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Finance

Energy Giant EDF Subsidiary Joins Cronos as a Blockchain Validator

EDF subsidiary Exaion helps industries with digital transformation by focusing on addressing the energy efficiency of data centers.

By Jamie Crawley
AccessTimeIconJun 20, 2024 at 10:00 a.m. UTC
(Léo Crouzille/Unsplash)
(Léo Crouzille/Unsplash)
  • Exaion joins Cronos as a validator three months after doing the same on Chiliz Chain.
  • Validators maintain the operation and security of a blockchain network by authorizing smart contracts and verifying transactions.
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    • A subsidiary of France's state-owned energy company EDF has become a validator on Cronos, the blockchain network developed by crypto exchange Crypto.com just months after doing the same on Chiliz Chain.

    Exaion, which helps industries with digital transformation by focusing on addressing the energy efficiency of data centers, joins a pool of 32 validators on Cronos' open-source Ethereum Virtual Machine (EVM) protocol. Cronos EVM interoperates with Ethereum and the Cosmos network and uses a proof-of-authority consensus mechanism.

    An EVM is smart contract-executing software that powers the Ethereum protocol, comparable to a computer's operating system. Validators maintain the operation and security of a blockchain network by authorizing smart contracts and verifying transactions. They do this by running a node and receiving revenue in return.

    Joining Cronos so soon after Chiliz further demonstrates the interest that one of the world's largest energy companies is taking in the blockchain industry.

    Read More: Ethereum's Rising Validator Count Is Causing Concerns, Fidelity Digital Assets Says

    Edited by Sheldon Reback.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter