We make these investments from the funds of our division and not through a venture fund. But in cooperation with them, the telecom giant did not purchase their cryptocurrency (except for Celo).Ĭompany representatives said: We are investing in Polkadot tokens to manage the network and support its ecosystem with money. The company also works with the Dapper Labs NFT project and the Celo mobile payment network. It supports the Chainlink oracle network infrastructure. The telecommunications company has long been interested in the cryptocurrency and blockchain space. The corporation will launch several nodes for staking DOT tokens and stack its tokens. T-Systems Multimedia Solutions will own tokens. The para chain model is designed to provide a third-generation internet in which many different networks will work together.ĭeutsche Telecom has invested in Polkadot Europe’s largest telecommunications company Deutsche Telecom announced the purchase of a “significant amount” of Polkadot tokens. Each network has its strengths and is suitable for decentralized applications but not others. Gavin Wood said that there is no single blockchain that would suit all goals at once. The networks raise money from the community to participate in auctions to connect to Polkadot. Polkadot was founded by Ethereum native Gavin Wood to address interoperability issues between decentralized networks.Īt the same time, the connected networks can retain their specificity and perform tasks that are different from each other.
They all work in decentralized finance, NFT, smart contracts, loans, and investments.Īll five connected networks are more than $2.3 billion to participate in para chain auctions. The first five connected networks (parachains) of Polkadot were Astar, Clover, Moonbeam, Parallel Finance, and Acala. This shows that Polkadot technology is successful, and the network can expand its ecosystem. The networks that won the para chain auctions have started releasing blocks and showing normal performance.
After five years of work, Polkadot, created to combine blockchains, launched the first networks to become parts of its infrastructure. The first experiment with parachains in Polkadot was successful. The German telecom giant showed interest in Polkadot, which acquired many network tokens on the market. All of them are now successfully releasing blocks. The first para chain auctions took place on the Polkadot cryptocurrency network, and five networks started working in the DOT ecosystem.