The EDF group is involved in the French blockchain Tezos (XTZ)

The EDF group, through its subsidiary Exaion, will participate in the operation of the French blockchain Tezos (XTZ).

EDF, the third largest energy production company in the world, in which the French state is an 83.6% shareholder, will get involved in the Tezos blockchain. This will be one of the first times that an international public company has become so involved in blockchain technology.

At the same time, the EDF group, through its subsidiary Exaion, becomes the first institution to participate in the Tezos ecosystem.
Fatih Balyeli, P.-D.G. and co-founder of the company, commented:

“Our choice to use the Tezos blockchain came naturally. Mining on Tezos will significantly reduce our energy consumption and is part of our sustainable development approach ".

As digital technology is a sector with a large energy footprint, Exaion is committed to developing solutions to minimize its carbon footprint and that of its customers.

Tezos uses a so-called “Liquid Proof-of-Stake” validation consensus, and blockchain miners are called “bakers”.

Any new Tezos block is created by a baker selected at random, before being approved by others and validated by the entire network. In addition, bakers put their own tezos as collateral to ensure proper validation and network security. This validation consensus therefore does not require a mining machine and therefore does not consume energy.