Exaion, EDF group subsidiary, becomes a Tezos baker
Paris, October 22nd, 2020. 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.
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 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.
"Baking" on Tezos
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.
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."
About Exaion Exaion is EDF Group’s subsidiary company specialized in Cloud provision of Blockchain and high-performance Computing (HPC and AI) solutions. Exaion's offer contributes to reduce the numeric sector's environmental footprint, by offering ISO 50001-certified infrastructures and by planning its periods of activity to optimize its energy consumption, thereby reducing its carbon footprint. All its assets are based in France and benefit from EDF Group’s high standards and cyber security.
About Tezos Tezos is a decentralized, public blockchain that evolves by upgrading itself. Stakeholders of the Tezos network vote on amendments to the protocol to reach social consensus on proposals, creating a secure and organic upgrading mechanism. The protocol's on-chain governance system, its consensus algorithm based on Proof-of-Stake (PoS) , and its ability to facilitate formal verification of smart contracts, make Tezos an ideal long-term solution for high-value financial applications. Learn more about Tezos.
About Nomadic Labs Nomadic Labs is one of the largest research and development centers within the Tezos ecosystem. Based in Paris, it brings together more than 40 engineering researchers working on the development of the Tezos protocol. Learn more about Nomadic Labs and you can follow us on Twitter @LabosNomades.