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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.
Updated Jun 20, 2024, 10:00 a.m. Published Jun 20, 2024, 10:00 a.m.
- 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.
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.
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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
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