Leading Electrical Company EDF teams up with Ethereum based dApp iExec

Electricite de France (EDF), one of the top electrical companies in the world teaming up with iExec, an Ethereum based application. Both companies came together to optimize cloud computing with Blockchain Technology.

EDF is the fifth largest electricity provider in the world with a market cap of $33 Billion. They use a simulator named “GPUSPH” for a wide range of uses including studying about water dams and even on the lava cooling subject. iExec is an Ethereum app which does the same. It combines Blockchain technology, cloud computing, and server computing services on demand.

In a blog post, Blair Maclennan, Marketing and Community Manager at iExec also mentioned the news of the union. He wrote,

iExec announced its work with EDF, one of the worlds largest electricity providers, to optimize its cloud computing infrastructure. By combining distributed computing, blockchain consensus, and trusted execution environments, iExec can address the needs of enterprises and consortiums to do business with blockchain.

EDF is joining forces with iExec to use their visual simulator GPUSPH on iExec to see how their simulator runs in a Blockchain based environment. The news so far is that they have teamed up for this work, and the results are yet to be announced.

iExec has been serving people since 2016 with its cloud services using blockchain. Ethereum is known to have scalability issues which are yet to be solved, one might wonder if iExec is facing the same problems in implementing the solution.

But the team at iExec are giving a valid point to prove this statement false. They have come up with their own scaling solution wherein the heavy computing operations are done off the chain and not on Ethereum.

It is good to see how the top companies of the world are showing interest in implementing Blockchain solutions. EDF took a step further and are on trials to embed this technology in their simulator. If this goes well or even if it doesn’t, they plan to work with iExec in the future on various other platforms.

Also Read:

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Manisha Agrawal

Manisha Agrawal is a cryptocurrency and blockchain enthusiast. She has worked as a content writer for two years and worked as a research based blockchain blog writer too. Also, she worked as a crypto news writer with various known firms like Crypto-News India, Coingape and The Coins Report.

Published by
Manisha Agrawal

Recent Posts

Binance.US in Trouble as SEC Strives for A Temporary Restraining Order To Freeze Its Assets, Summons CZ

It doesn't seem a good time for Binance as just after getting sued, the US…

22 hours ago

Atomic Wallet Was Hacked By North Korean Hackers, Drain Millions in Cryptocurrency

In a recent development, cryptocurrency users of Atomic Wallet have fallen victim to a breach…

1 day ago

SEC Designates 61 Cryptocurrencies as Securities in Binance Lawsuit

In a recent lawsuit filed against Binance, the United States Securities and Exchange Commission (SEC)…

2 days ago

Binance Enables Tether (USDT) Integration on Arbitrum One and Optimism Networks, Unveils Deposits for Users

In a recent announcement, Binance, a leading cryptocurrency exchange, has successfully integrated Tether (USDT) onto…

6 days ago

From Scarcity to Accessibility: Ommniverse’s Fractional NFT Marketplace Redefines Ownership

It is only logical that we have seen the growth of non-fungible tokens (NFTs) in…

6 days ago

Tether USD₮ Beats Own Market Cap High of $83.2 Billion, Enjoys An All-Time High Market Cap

Tether, the firm operating a blockchain-powered platform tether.to has surpassed its own all-time high records…

7 days ago