Today, The Blockchain Group, through its subsidiary Blockchain Xdev, a blockchain service and technology company, announced that it has become an Institutional baker on Tezos. Tezos is a Proof-of-Stake public blockchain with a unique on-chain governance mechanism which allows the protocol to upgrade itself. The protocol has successfully upgraded four times with the most recent upgrade, Delphi, slashing gas fees by as much as 75%, creating a development environment more conducive to elaborate smart contracts and decentralised applications (DApps). By leveraging its technical skills, The Blockchain Group will now be able to produce its own blocks on Tezos, thus contributing to the security and stability of the network.
The Blockchain Group, the only publicly traded French company in the blockchain industry, specialises in the provision of integrated services dedicated to supporting blockchain companies and entrepreneurs. The Blockchain Group has prior experience working on Tezos after launching a Tezos-based tokenization platform in December. The platform enables issuers to create and manage digital assets intuitively and securely within the blockchain.
Its arrival on Tezos as an institutional baker will enable it to play a more active role in securing Tezos, which is experiencing significant growth and serves as a public platform for smart contract development. The Blockchain Group, as a baker, will have different roles to play in Tezos governance: in addition to validating the transactions, it will be at the core of the protocol’s evolution by having voting rights proportional to the tez (Tezos tokens) it owns or that is delegated to it.
Xavier Latil, CEO of The Blockchain Group underlines
"We are already familiar with the Tezos protocol and believe in the project, which is why we’ve decided to expand our involvement by becoming a corporate baker. This protocol combines technical excellence with high security standards. Although it is still young, it has already proven the strength of its model and the relevance of its governance mechanism, and we’re excited to further our involvement."
Michel Mauny, President of Nomadic Labs, the largest research and development centre within the Tezos ecosystem in France said
"We are delighted to welcome a French firm like The Blockchain Group into our ecosystem and are thrilled for their participation in the governance of the Tezos protocol as a baker. By furthering their involvement in the Tezos community, the Blockchain Group is actively participating in the enrichment of Tezos and the future of the project."