Exaion (EDF Group) To Become Corporate Baker On Tezos
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 a 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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