Deutsche Telekom starts staking cryptocurrencies

Deutsche Telekom attracted attention in the crypto scene several months ago. As it became known at the time, the largest telecommunications company in Europe operates several Chainlink nodes. Another step has now followed in order to benefit from the crypto market.

Deutsche Telekom operates Chainlink Codes

T-Systems is a subsidiary of Deutsche Telekom AG, which generated sales of more than $ 2019 billion in 90. T-System, based in Frankfurt, employed 2017 people in over 20 countries in 37.000, including 18.000 at T-Systems International GmbH in Deutschland.

It was this subsidiary that jumped on the crypto bandwagon several months ago. As announced in July 2020, the company operates so-called Chainlink nodes. Node operators are the core element of the Chainlink (LINK) network and their oracles. They guarantee the reliability of external data linked to smart contracts. In return, the operators of the nodes are rewarded in the form of cryptocurrencies. This is proving to be an innovative and lucrative opportunity for companies to invest their capital.

Deutsche Telekom enters the staking business

But chainlink doesn't stop there for Deutsche Telekom. As coindesk reports, the company is now entering the business of staking digital assets. More precisely, Deutsche Telekom has started to stake the cryptocurrency Flow Network (FLOW). Flow Network is a cryptocurrency based on PoS. It was launched by the developers of the well-known CryptoKitties and has only been tradable for a few weeks.

But staking from FLOW should not end. As coindesk reports, the Head of Blockchain at Deutsche Telekom states in an interview that they also have other cryptocurrencies in their sights:

We haven't started staking Ethereum 2.0 yet. (...) There are some networks in the pipeline that we are planning to go live with. Obviously, the larger networks are ideal here, be it Tezos, Polkadot or Ethereum 2.0 "

With a market capitalization of USD 270 million, FLOW is still outside the top 100 cryptocurrencies. In the last 24 hours, the price was able to gain 15,4%. The high is just under $ 12 and was hit on February 1st, shortly after the digital asset first performed.


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