The EDF Group, through one of its subsidiary company Exaion, is all set to participate in the Tezos ecosystem as a corporate baker. Exaion will be the first French organization to participate in the Tezos ecosystem which will allow them to validate transactions and add them to the Tezos blockchain.
Exaion is a company created by EDF this year in January. It is a start-up that specializes in blockchain solutions and high-performance cloud computing. Exaion has been established with the commitment to develop solutions to decrease the carbon footprint considering how energy-intensive it is. With Tezos proof-of-stake consensus algorithm, it reduces the energy that is required for it to function thereby resulting in sustainable environmental performance.
Fatih Balyeli, Exaion CEO and co-founder commented;
“Our choice to use the Tezos blockchain came naturally. Baking on Tezos allows us to significantly reduce our energy consumption and is in line with our sustainable development policy while keeping a high-quality digital offering.”
By becoming a part of the Tezos community, the French corporation is making rapid progress because this forms a part of its strategy. Baking on Tezos will allow Exaion to significantly bring down the energy consumption. It will also be in sync with its innate organizational policies of sustainable development along with maintaining high-quality digital offerings. It will also have the technical support of Nomadic Labs.
Block creators are also called ‘bakers’ and they fulfill the same responsibilities as ‘miners’ which are a part of blockchain networks. Each block will be created by a baker selected randomly, endorsed by the remaining bakers, and corroborated by the entire network. Bakers will put their stake of XTZ as collateral to make sure that the blocks are validated correctly. This will further incentivize network participation along with strengthening all measures of network security.
Nomadic Labs, the research and development laboratory, is continuously contributing to the Tezos Blockchain development in France and is a strong support in the entire process. Based in Paris, it collates the efforts of more than 40 engineering researchers working on the development of the Tezos protocol.
Michale Mauny, President of Nomadic Labs commented:
“Nomadic Labs is pleased to have supported Exaion in its efforts to join the Tezos ecosystem, which currently boasts more than 400 bakers around the world. By becoming the first French corporate baker on Tezos, Exaion reinforces its status as a pioneer in the blockchain sector and, by considering the use of this technology for certain customer and business cases, validates the viability of the Tezos project, paving the way for a growing commitment from French institutional players.”
Tezos, as well known, is a highly prominent and popular decentralized public blockchain that is on a continuous evolution thanks to its strategies of upgradation. The protocol boasts of an on-chain governance system, and consensus algorithm based on the Proof-of-Stake system which provides the ability to facilitate formal verification of smart contracts. This also makes Tezos a very ideal player for solutions stretching long-term and especially for high-valued financial applications and products.