Deutsche Telekom Partnering with Subsquid to Boost Blockchain Data Efficiency

Jul. 03, 2024. 2 min. read. Interactions

Deutsche Telekom partners with Subsquid to enhance blockchain data security and efficiency, aligning with its decentralization strategy and recent venture into Bitcoin mining, announced at BTC Prague.

Source: Racoonknits via DALL.E

Deutsche Telekom is partnering with Subsquid, a decentralized data platform, to enhance blockchain data security and efficiency. This move aligns with Deutsche Telekom’s strategic vision of embracing decentralization and follows their recent announcement to venture into Bitcoin mining at BTC Prague.

T-Mobile Deutsche Telekom MMS has joined forces with Subsquid to run dedicated worker nodes within Subsquid’s decentralized “data lake.” According to a press release shared with Cointelegraph, this collaboration aims to improve the security and efficiency of blockchain data retrieval and delivery. Worker nodes in the Subsquid network process data queries, retrieving requested information for data consumers.

Alexander Ebeling, co-founder of Web3 Unit Deutsche Telekom MMS, stated, “For Deutsche Telekom, this collaboration aligns with our strategic vision of embracing decentralization and supporting the development of new, decentralized business models.”

Marcel Fohrmann, co-founder of Subsquid, emphasized that this partnership would help “strengthen and secure permissionless data access” across Web3. The collaboration follows Deutsche Telekom’s recent role as a validator for the Ethereum layer-2 scaling platform Polygon, becoming one of the network’s 100 staking and validation providers.

Dmitry Zhelezov, co-founder of Subsquid, discussed data handling, explaining that each piece of data is “cryptographically validated” to ensure authenticity. “Once [data] has been added to the Subsquid Network, every piece of data is replicated across dozens of nodes across the network, so even if a node goes offline all the data remains available for consumers.”

Security remains a top priority for Deutsche Telekom. Ebeling noted, “Security remains a paramount concern, as enterprise-scale systems are prime targets for cyber threats.” He added that Deutsche Telekom implements rigorous security audits and maintains an on-call duty team available 24/7 to guarantee the uptime of their blockchain infrastructure.

Addressing the challenges in data security, Zhelezov mentioned the need for efficient data partitioning and enterprise-grade security measures in a decentralized space.

In related news, Dirk Röder, head of Web3 infrastructure and solutions at Deutsche Telekom, revealed at the BTC Prague event that the firm had been running a Bitcoin node since 2023 and hinted at their upcoming engagement in “digital monetary photosynthesis.” When asked if this meant Bitcoin mining, Röder confirmed, “we will.”

SOURCE: Deutsche Telekom joins Subsquid decentralized network

About the writer

Knits By Racoon

14.80655 MPXR

A writer at heart, fascinated by AI and its potential to shape our future. My journey started with a law degree, arming me with analytical skills enriching my narratives. Next to writing, I find joy in knitting and crocheting, where each loop and stitch is a meditation in creativity.

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