For over two years, T-Systems MMS has served as a node operator for the Chainlink Network, providing reliable real-world data and off-chain computation to decentralized applications (dApps) and supporting the vision of public blockchains as a foundation for novel use cases such as decentralized finance (DeFi). Currently, T-Systems MMS is part of 82 decentralized oracle networks (DONs) providing real-world price data to the Ethereum blockchain.
- T-Systems MMS anticipates growing adoption of blockchain technology.
- T-Systems MMS already supports Web3 by running a Chainlink node.
- By participating in Chainlink Staking, T-Systems MMS is continuing its support for decentralized infrastructure.
Now, Chainlink has launched Chainlink Staking to help further support the security of the Chainlink Network and enable higher-value use cases for Chainlink oracle networks, including tokenized real-world assets, real estate, derivatives, and more. By participating in Chainlink Staking, T-Systems MMS can help facilitate the real-world adoption and advancement of blockchains as novel computing platforms powering decentralized applications.
As an increasing amount of economic activity migrates to the blockchain economy, securely connecting on-chain and off-chain environments is one of the key challenges for both public and enterprise blockchains. Enabling smart contracts to interact with the external world and ensuring that the data and computation they receive is highly secure and reliable is critical.
Chainlink is a secure, open-source blockchain middleware (referred to as an "oracle" network) that provides smart contracts with any type of data or computation that they cannot inherently obtain on their native blockchain due to technical, financial, governance, or other constraints. Chainlink decentralized oracle networks aim to generate and deliver oracle reports to blockchains that accurately reflect the state of external events along with computation.
Since T-Systems MMS initially joined Chainlink as a node operator in June 2020, its underlying network has experienced significant growth. The number of decentralized oracle networks supplying off-chain data and compute services to decentralized applications has grown to more than 1000, while Chainlink nodes have delivered more than 5 billion data points to on-chain reference contracts across a multitude of different blockchain networks.
Chainlink Staking brings a new layer of cryptoeconomic security to Chainlink, whereby digital asset rewards and penalties are applied to help further incentivize the network’s proper operation. Chainlink Staking gives ecosystem participants—including node operators—the ability to help increase the security guarantees and user assurances of oracle services by backing them with staked LINK tokens. The staking of LINK in turn enhances the ability of nodes to earn fees within the Chainlink Network.
By applying its expertise in running a Chainlink node and staking LINK, T-Systems MMS is helping support the growth and adoption of blockchain-based applications while being rewarded for doing so. To help support the Chainlink Network’s long-term security, T-Systems MMS will be staking LINK tokens as a part of the initial v0.1 implementation of Chainlink Staking.
“The Chainlink Network has seen increasing adoption and growing momentum both across the blockchain ecosystem and across more traditional Web2 business sectors,” said Dirk Röder, Head of Blockchain Solutions Center at T-Systems MMS. “By participating in Chainlink Staking as a node operator, T-Systems MMS can further support the security of Chainlink oracle services while providing secure infrastructure for the growing smart contract economy.”
“We’re pleased that T-Systems MMS is participating in Chainlink Staking, which will help bring the Chainlink Network into the next stage of its sustainable growth through a further increase in cryptoeconomic security,” stated Johann Eid, VP of Go-To-Market at Chainlink Labs. “Supporting the adoption of blockchain technology through Chainlink Staking enables T-Systems MMS to play an important role in helping realize the transformative power of smart contracts.”
Chainlink is the industry-standard Web3 services platform and has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.