Just a week after news of Deutsche Telekom's plan to mine BTC through a subsidiary, the telecommunications giant is once again in the crypto news after announcing partnership with the NEAR blockchain as a validator. Deutsche Telekom is the first telecommunication company to operate a validator within the NEAR Protocol. It's also the only major company I know of to operate a validator node.
What is a Validator?
Validators play an important role in maintaining a blockchain's integrity and security. They do so by watching the blockchain for any signs of malicious activity. Validators also check new transactions and add them to the blockchain. In exchange for their work, validators receive transaction fees. There are qualifications to become a validator, such as staking a minimum amount of the network’s native cryptocurrency.
What This Means
In addition to NEAR's price gained 10% after the news was released, this collaboration shows growing involvement of established companies to crypto, thus paving the way for adoption and acceptance of mass use of cryptocurrency . Coupled with the current pro-crypto stance of the Donald Trump and the Republicans, this is favorable news to the crypto industry as a whole.
Posted Using InLeo Alpha