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Deutsche Telekom partners with Polygon, becomes POS validator

  • Deutsche Telekom has joined Polygon as a network validator.
  • The telecommunications giant’s subsidiary Deutsche Telekom MMS will offer staking services to Polygon POS and Supernets.
  • Deutsche Telekom MMS provides validation and staking services on Ethereum, Flow and Chainlink among other chains.

Deutsche Telekom, the Germany telecommunications giant that has recently been actively expanding its footprint in the blockchain technology space, has partnered with Polygon, the leading Layer-2 scaling platform for Ethereum.

On Wednesday, Deutsche Telekom announced its subsidiary Deutsche Telekom MMS, had joined Polygon as a validator – one of only 100 validators on Polygon’s POS network.

In this case, Deutsche Telekom MMS will participate in the Polygon ecosystem by providing staking services for both Polygon’s PoS sidechain and Supernets. This will be achieved through deployment of a full node and producing blocks as part of contributing to the network’s security, governance, and decentralization. 

As a validator, the company will also help strengthen the Ethereum network.

Deutsche Telekom supports Ethereum and other POS networks

The collaboration is a key step in Deutsche Telekom’s commitment to aid the blockchain adoption process, with Polygon the latest POS chain to add the company as a validator.

Deutsche Telekom MMS already provides validation services for multiple POS networks. As CoinJournal highlighted, the telco giant launched an Ethereum validator in September last year, with this coming after the “Merge”. Other blockchains it supports are Chainlink, Q, Flow, and Celo.

“The collaboration with Polygon is an important step for Deutsche Telekom MMS to fully exploit the potential of blockchain technology and enable applications suitable for mass deployment. Deutsche Telekom MMS also supports Polygon staking, contributing to the security and decentralization of the blockchain,” said Dirk Röder, the Head of the Blockchain Solutions Center at Deutsche Telekom.

Michael Blank, the Chief Operating Officer at Polygon Labs, said in a statement that the collaboration will see many more businesses tap into the benefits of Web3 and blockchain technology, with these businesses leveraging Polygon’s network to empower consumers.

As a leading scaling solution for Ethereum, Polygon’s suite of protocols include zero-knowledge rollups, sidechains, and app-specific chains.

The blockchain platform currently hosts tens of thousands of dApps, accounts for over three million daily transactions, and has $1.2 billion worth of assets in Total Value Locked (TVL). Some of crypto industry’s biggest projects, such as Uniswap, Aave, and OpenSea are live on Polygon.

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JPMorgan analyst sees ‘conditional’ upside to $45,000 in Bitcoin

  • Nikolaos Panigirtzoglou says BTC should be trading at $45,000.
  • His forecast is based on gold that’s currently near the $2,000 level.
  • Despite recent weakness, Bitcoin is up more than 60% year-to-date.

Nikolaos Panigirtzoglou – a JPMorgan analyst remains bullish on Bitcoin even though it has taken a hit in recent weeks.

A gold-based forecast for BTC

Last week, Panigirtzoglou said BTC should be trading at about $45,000. His forecast is hinged on gold that’s currently trading near the $2,000 level. In his research note, the analyst said:

$45,000 price for bitcoin is under the assumption that it equalizes gold in private investors’ portfolio in risk capital or [volume] adjusted terms.

Remember that the price of both assets are historically known to move in tandem.

It is also noteworthy that several whales saw the recent dip in Bitcoin as an opportunity and have accumulated about $100 million worth of BTC over the past 24 hours.

Bitcoin supply will halve in 2024

It is conceivable that strength of the U.S. dollar index and uncertainty, be it related to the federal debt, the rate hikes, or on the regulatory front, could continue to weigh on Bitcoin in the short-term.

Long-term, though, JPMorgan’s Panigirtzoglou is convinced of the upside especially as bitcoin halving next year sees the cost of producing a bitcoin hit $40,000.

Indeed, the previous halving events of 2016 and 2020 were accompanied by a bullish trajectory for bitcoin prices that had accelerated post the halving event.

Despite the recent dip, Bitcoin is up more than 60% for the year at writing.

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EOS EVM v0.5.0 launches, bringing Yield+ Liquidity mining to EOS

  • EOS Network Foundation announces launch of EOS EVM v0.50, first major update of EOS EVM.
  • The update will enable new yield farming opportunities for DeFi investors.
  • EOS EVM v0.50 also includes other updates set to make EOS more optimized for DeFi.

In what could be the biggest EOS news this week, the community is celebrating yet another milestone for the blockchain network – the release of EOS EVM v0.5.0.

On Wednesday, the EOS Network Foundation (ENF) announced the release had reached code completion today, revealing new liquidity benefits for the ecosystem via the integration of Yield+ Liquidity.

EOS EVM v0.50 also includes key updates on network optimization and improvements to user experience for EOS’ developer community.

First major update to EOS EVM

V0.50 is the first major EOS EVM version since the EOS Network Foundation, the lead developers of EOS (EOS), launched the EOS Ethereum Virtual Machine mainnet. The beta launch went live in mid-April, around the same time as Ethereum 2.0 activated the highly anticipated Shapella upgrade.

The EOS EVM for Solidity developers enabled interoperability between EOS and Ethereum and marked an important step for further growth of the EOS network.

EOS EVM v0.50 brings Yield+ Liquidity to ecosystem

With EOS EVM v0.50, DeFi traders can now access more dApps and tap into new yield farming opportunities.

Yield+ brings a liquidity rewards program that will not only attract more DeFi dApps to EOS, but also help increase the Total Value Locked (TVL). The program was unveiled in August and sees dApps rewarded in tokens, with this based on the total value of deposits they bring into the EOS ecosystem. 

Per details on DeFiLlama, EOS currently has $98 million in TVL, a tiny portion of the $27 billion in TVL on Ethereum.

What are the other key updates of EOS EVM v0.50?

Apart from Yield+, EOS EVM has also introduced several updates on optimization, performance and user experience. The updates include read-only transaction execution support, removal of advanced execution, updated “inevm” table and modification to the withdraw action.

The ENF says code completion for the EOS EVM v0.50 also now allows EOS engineers to strategize for a testnet for the smart contract upgrade. This testnet is currently in development and will pave the way for mainnet deployment.

A roadmap highlighting upcoming key milestones for EOS will also be released soon, with developers, dApps and DeFi investors all likely to benefit immensely from new capabilities and opportunities.

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XDC token trending after SBI VC Trade partnership in Japan

  • At press time, the price of the XDC token was $0.03539.
  • The token had gained 12.88% in the last 24 hours at the time of writing.
  • The token is trending after XDC Network formed a strategic partnership with SBI Group’s subsidiary SBI VC Trade in Japan.

The XinFin Digital Contract (XDC) token has been the talk of the day following its splendid performance after XDC Network announced that it has inked a strategic partnership with SBI VC Trade, a subsidiary of SBI Group. 

The partnership, which is a major milestone for the XDC Network also referred to as the XinFin Network, is aimed at enhancing trade finance efficiency in Japan by ensuring that the SBI VC Trade provides comprehensive services to customers in Japan. It comes after the recent XDCNFT launch by the BlocksWorkz tech firm causing an XDC price Bull Run.

The Japanese finance market sees an annual trading volume of about 2,000 trillion Yen and XDC Network’s involvement in the market is beneficial for both the network and the market.

Importance of a hybrid blockchain ecosystem

The XDC is the digital asset that powers the eXchange inFinite (XinFin) Network, which is a Delegated Proof of Stake Consensus network (XDPoS), enabling Hybrid Relay Bridges, Instant Block Finality and Interoperability with ISO20022 messaging standards, making XinFin’s Hybrid Architecture Developer friendly.

The XDC Network’s partnership with SBI VC Trade underscores the growing importance of a hybrid blockchain ecosystem that facilitates seamless transactions.

The partnership definitely holds huge potential for revolutionizing the XDC Network, positioning it as a promoter of digital transformation within the finance trade market and solidifying its position as a leading global player in the blockchain industry.

Furthermore, XDC has introduced several initiatives aimed at enhancing user experience by delivering more intuitive and user-friendly solutions.

In addition, the Japanese finance trade sector is strategic to the expansion of the XCD ecosystem and positions XCD as an ideal choice for businesses looking for streamlined operations and an enhanced financial framework.

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Swiss blockchain firm Anoma secures $25 million funding round

  • The Swiss-based non-profit said the funding was led by CMCC Global and backed by Electric Capital, Delphi Digital, Dialectic, KR1, Spartan, and NGC.
  • Anoma will use the funds to accelerate development of its third-generation intent-centric blockchain architecture.
  • In recent weeks, Anoma has submitted proposals to airdrop its NAM token to Zcash and Osmosis holders.

Anoma Foundation, the Swiss-based non-profit behind L1 privacy blockchain Namada, has successfully completed a $25 million fundraising round. In an announcement on Wednesday, Anoma said the round was co-led by CMCC Global, a leading blockchain-focused venture capital firm.

According to the foundation, also backing it are several prominent investors including Electric Capital, Delphi Digital, Dialectic, KR1, Spartan, and NGC. Others were MH Ventures, Perridon Ventures, Anagram Bixin Ventures, No Limit, Plassa and Factor.

Anoma also received backing from more than 30 angel investors from across L1s, dApps and ZK cryptographers.

The funding round is targeted at accelerating the non-profit’s efforts of bringing the third generation blockchain architecture to the market, the foundation said. 

Anoma’s third-generation blockchain architecture

Per Anoma, the significant backing is an illustration of the confidence industry players have in its innovative intent-centric architecture. This includes novel primitives that are set to bring full decentralisation to Web2.5 apps, such as rollups, DEXs and NFT marketplaces.

“We are thrilled to have co-led this fundraising round of Anoma,” said Charlie Morris, co-founder & managing partner of CMCC Global. He added:

“The team is pushing the boundaries of protocol design and reimagining how base layer infrastructure should operate. It is refreshing to see Anoma’s designs and philosophy against the backdrop of a homogenous group of layer-1 smart contract platforms.”

Other than supporting further development of its blockchain architecture, Anoma Foundation will use the $25 million war chest to fund ongoing R&D initiatives. The funds will also be crucial in developing tools that help drive adoption across the ecosystem.

The Anoma Foundation’s Namada blockchain, which brings multichain privacy to users, is getting closer to its mainnet launch.

In recent weeks, the non-profit has looked to integrate with some of the leading ecosystem platforms and networks ahead of the launch. 

As CoinJournal reported, it includes proposals to bring shielded airdrops to Zcash (ZEC) and Osmosis (OSMO) holders. The proposals also include a grants pool and bridge to top blockchains Ethereum and Cosmos.

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