Energy giant EDF subsidiary Exaion joins Cronos as a blockchain validator to bolsters security

Exaion, a subsidiary of France’s state-owned energy giant EDF (Électricité de France), has partnered with Cronos to become a validator on its blockchain network as part of the effort to boost security. The collaboration will enable Cronos to enhance its network’s stability and security.

As part of this partnership, Exaion will operate as a validator node within the Cronos EVM network, aligning with its mission to engage with leading blockchain protocols. Validators play a crucial role in maintaining the operation and security of blockchain networks by authorizing smart contracts and verifying transactions. By joining Cronos, Exaion enhances its contribution to the stability and security of the network and participates in its governance and approval of updates.

Exaion specializes in aiding industries with digital transformation, particularly focusing on the energy efficiency of data centers. By joining the pool of 32 validators on Cronos’ open-source Ethereum Virtual Machine (EVM) protocol, Exaion will contribute significantly to the network’s stability and security.

Validators, essential to the decentralized nature of blockchain networks, are responsible for producing or confirming new blocks approximately every five to six seconds. As a validator, Exaion will also participate in the governance of the blockchain and the approval of network updates. Cronos EVM utilizes a proof-of-authority consensus mechanism and interoperates with both Ethereum and the Cosmos network.

The EVM, similar to a computer’s operating system, is smart contract-executing software that powers the Ethereum protocol. By running a node, validators ensure the network’s operation and security, receiving revenue in return for their services.

Exaion’s addition to the Cronos validator network comes just three months after it joined the Chiliz Chain as a validator. This rapid succession underscores the increasing interest of EDF, one of the world’s largest energy companies, in the blockchain industry.

EDF, a global integrated energy company and Europe’s largest renewable energy producer, is renowned for providing responsible digital services. Exaion’s involvement with Cronos aligns with Cronos’ strategy of partnering with open-source contributors and validators recognized for their technical prowess. Notable contributors to the Cronos ecosystem include Crypto.com, Blockdaemon, Allnodes, and several top-tier validators.

Ken Timsit, Managing Director of Cronos Labs, the blockchain startup accelerator, emphasized the strategic significance of this partnership: “The Cronos ecosystem bridges crypto-native developers and communities with mainstream users and established enterprises. The collaboration with Exaion enhances Cronos’ brand recognition, introduces new talent and expertise into the ecosystem, and strengthens our participation in the French blockchain community.”

Commenting on the partnership, Exaion CEO Fatih Balyeli said: “We have been impressed with the technical depth of Cronos developers and the enthusiasm of the Cronos user community around use cases like decentralized finance, NFTs, and Web3 gaming. Cronos is a worthy addition to the select blockchain protocols we support as validators, including Avalanche, Bitcoin, Ethereum, and others.”

Cronos, a prominent blockchain ecosystem that seamlessly integrates with both Ethereum and Cosmos, has also partnered with Crypto.com and more than 500 application developers and contributors, reaching an addressable user base of over a hundred million people globally. Its mission is to facilitate the safe and easy adoption of self-custody in Web3, with a focus on Decentralized Finance and Gaming.

The Cronos ecosystem includes three chains: Cronos EVM, an Ethereum-compatible blockchain built on the Cosmos SDK; Cronos POS, a leading Cosmos chain for payments and NFTs; and Cronos zkEVM, a high-performance layer 2 network secured by Ethereum. Cronos ranks among the top 15 blockchain ecosystems, managing over 6 billion dollars in user assets and having securely settled more than 150 million transactions since its inception.

Founded in 2020 by Fatih Balyeli and Laurent Bernou-Mazars, Exaion supports industries in their digital transformation with a responsible and sustainable approach. Leveraging largely decarbonized electricity and innovative solutions, Exaion accelerates data processing, ensures data security, and facilitates user access and control. Exaion Inc., based in Montreal, Canada, caters to North American stakeholders’ needs, furthering Exaion’s mission and commitment to sustainable digital transformation.

Energy Giant EDF Subsidiary Joins Cronos as a Blockchain Validator