As a node operator, T-Systems Multimedia Solutions ensures the reliable connection of external data to smart contracts and, in doing so, earns digital assets.
Dresden, July 22, 2020 – T-Systems MMS enters the Chainlink network as a node operator as the next step in its blockchain infrastructure activities. Chainlink uses a distributed oracle network to provide various off-chain data such as Web APIs, asset prices and sensor data to smart contracts. As a node operator, T-Systems Multimedia Solutions enables the connection of verified external data to smart contracts in real-time. Developers having access to reliable off-chain data opens up numerous possibilities for new applications and use cases, for example in the domains of Decentralized Finance (DeFi) and Internet of Things (IoT).
By providing real-world data to the Chainlink network, T-Systems MMS engages in a so-called “Generalized Mining”, where it provides an IT service to a blockchain network while getting paid in digital assets for reliably doing so. As there is a significant value locked in DeFi, such IT services play an important role in the overall Ethereum ecosystem.
"Our globalised and digitalised economy requires the cooperation of multiple actors. At the same time, the requirements for verifiability, availability and authenticity of digital assets are increasing. Any meaningful blockchain application scenario would thus require interaction with the real world," says Dr. Andreas Dittrich, Head of Blockchain Solutions Center at T-Systems Multimedia Solutions, explaining the intention behind the project. "With the decision to become a Chainlink node operator, we are making exactly that possible. Chainlink is the first public blockchain network to which we are currently providing infrastructure and staking services in the future. This brings us a lot closer to our vision of establishing public blockchains as the basis for numerous use cases".
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Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux , and many others. Learn more by visiting the Chainlink-Website or Twitter.