Kategorie: Ethereum News

• Ethereum gas fee tanked all the way down to under $5 in May.
• BlackRock CEO Larry Fink reiterates dedollarisation as a real risk.
• Ethereum is currently down more than 10% versus its YTD high.

Ethereum gas fee declined by close to 70% in just under a month, data from Santiment – an on-chain data provider confirmed on Thursday.

Ethereum gas fee is back under $5

Interestingly, that said fee was seen at a year-to-date high of $14 per transaction in early May. By the end of the month, though, it tanked all the way down to under $5. The Santiment report reads:

More affordability encourages more utility. Additionally, crypto’s number 2 asset is at an all-time low 9.9% on exchanges as selfcustody reigns.

Earlier this week, strategists at JPMorgan warned that Ethereum could see a sell-off in the coming months following its recent Shanghai upgrade that shifted the Ethereum network to a more energy efficient proof-of-stake.

ETH is currently down over 10% versus its year-to-date high.

Could Ethereum surge in coming months?

On the flip side, though, there are catalysts that could push Ethereum up moving forward as well. For one, BlackRock CEO Larry Fink this week reiterated dedollarisation as a real risk.

The United States is jeopardising its reserve currency status with U.S. debt ceiling drama. There will be pockets of problems, like the commercial real estate.

The recent banking crisis has also shaken confidence in the fiat currencies. That has also pushed many to crypto assets like Bitcoin and Ethereum which are seen as safer alternatives.

In 2022, BlackRock itself launched a spot Bitcoin private trust for U.S. clients and also partnered with the crypto exchange Coinbase.

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• Germany’s Deutsche Telekom is one of Europe’s largest telecommunications companies.
• Deutsche Telekom provides consulting and software development services.
• Polygon has about 100 validators providing staking and validation services for the network.

Germany’s Deutsche Telekom is set to leverage its infrastructure in Web3 to become a Polygon Network validator. The Ethereum scaling protocol Polygon has about 100 validators providing validation and staking services for the network and the Polygon Supernets solution.

Deutsche Telekom provides consulting and software development services while also using its infrastructure to boost network security and explore new revenue streams as a validator for several blockchain protocols. Besides Polygon, Deutsche Telekom is a validator for Celo, Q, Flow, Ethereum, and Chainlink blockchains.

Deutsche Telekom as a Polygon validator

Polygon has grown into an important layer 2 within the Ethereum ETH ecosystem, offering a wide range of scaling solutions including side chains, data availability, and the zero-knowledge rollups whose holy-grail beta recently hit the mainnet.

By operating as a Polygon validator, Deutsche Telekom MMS will help secure Polygon’s proof-of-stake sidechain and Sepernets chain resulting in improved security, decentralization, and governance of the protocol.

The company will run a full node, produce blocks, and validate transactions while also committing checkpoints to the Ethereum mainnet.

Speaking to one of the popular media outlets, Deutsche Telekom’s Blockchain Solutions Center head, Dirk Röde said:

“Deutsche Telekom is not only a renowned infrastructure provider for mobile and internet services but is also making significant commitments to expand its presence and reliability as an infrastructure provider in the web3 domain.”

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• 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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