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4 years ago

Exaion (EDF Group) To Become Corporate Baker On Tezos

Jordan Lyanchev Oct 22, 2020 06:59
A subsidiary of a giant French electric utility company will become a baker on the Tezos blockchain. The company aims to reduce the carbon footprint of its business and clients.
  • Exaion, a subsidiary of the French multinational electric utility company EDF Group, will join the Tezos ecosystem as a corporate baker.
  • The press release shared with CryptoPotato disclosed that Exaion is EDF’s arm specializing in blockchain solutions and high-performance cloud computing. The company aims to utilize distributed ledger technology to develop solutions to minimize the carbon footprint of its business and its customers.
  • Tezos is third-generation decentralized blockchain project creating and managing distributed applications. By providing an innovative liquid proof-of-stake (LPoS) consensus algorithm, Tezos technology reduces the energy required for its stability.
  • Exaion CEO and co-founder Fatih Balyeli asserted that choosing Tezos “came naturally” due to the aforementioned reasons. He added that “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.”
  • The name “bakers” represent block creators. They have the same role as “miners” in other blockchain projects based on proof-of-work consensus algorithms such as Bitcoin.
  • Each block is created by a randomly selected baker, endorsed by other bakers, and validated by the rest of the network. The primary difference with PoW comes as bakers lock up their XTZ tokens as collateral to ensure that the blocks are validated correctly. This incentivize network participation and enhances network security.
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Jordan Lyanchev

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Tags: Proof of Stake (PoS)Tezos

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