EDF Group, through its subsidiary company Exaion, becomes the first French corporate to participate in the Tezos ecosystem as a corporate baker. Tezos is a third-generation decentralized blockchain dedicated to the creation and management of assets and distributed applications. By officially becoming a baker, Exaion will now validate transactions (blocks) and add them to the Tezos blockchain.
Tezos, the environmentally sustainable choice for institutional blockchain adoption
Created in January 2020 by EDF, Exaion is a start-up specializing in blockchain solutions and high-performance cloud computing. As digital is a highly energy-intensive industry, Exaion is committed to developing solutions to minimize the carbon footprint of its business and that of its customers. By providing an innovative liquid proof-of-stake consensus algorithm, Tezos technology reduces the energy required for its stability. This technical innovation results in a sustainable environmental performance in line with Exaion's philosophy to offer its customers simplified and complete access to a stable, energy-efficient node as well as services based on the Tezos blockchain.
The Tezos blockchain uses a consensus algorithm based on a Liquid Proof-of-Stake mechanism (LPoS). Block creators, called “bakers”, fulfill the same role as “miners” in previous generation blockchains. Each block is created by a randomly selected baker, endorsed by other bakers, and validated by the rest of the network. Bakers put up their stake of tez (XTZ) as collateral to ensure that blocks are validated correctly, incentivizing network participation and ensuring network security.
By joining the Tezos community, Exaion is making a strategic decision to utilize a protocol anchored in French scientific research, responsible in energy use and whose implementation is facilitated both by its open-source philosophy and by Nomadic Labs’ technical support.
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.“
Michel Mauny, President of Nomadic Labs, the Research and Development laboratory that contributes to the Tezos Blockchain development in France, added
“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."