ibusinesslines.com
ibusinesslines.com October 23, 2017


Microsoft to release open source blockchain framework

11 August 2017, 10:52 | Jodi Jackson

Microsoft to release open source blockchain framework

Microsoft to release open source blockchain framework

The service aims to get businesses prepared for the arrival of the new disruptive technology, providing a means for firms to utilise blockchain applications easily and effectiveness from the outset.

That's been a major hurdle to enterprise adoption of distributed ledgers in the past.

Looks like Microsoft is doing its bit in efforts to make blockchains enterprise-suitable. The company plans to release more details on its approach later on Thursday.

First off, why is it called the Coco Framework?

"I believe Coco can only benefit from the diverse and talented open source communities that are driving blockchain innovation today", Russinovich said, speaking to Microsoft's intent to follow an open-source approach to Coco's development and release.

The focus on those three key features arose from conversations with enterprises about what they needed in order to implement blockchain technology, according to Mark Russinovich, CTO of Microsoft Azure. While providing sturdy security for the blockchain, the Xeon processors are also expected to boost the performance of the new technology. It is created to run in any cloud or on-premises environment that supports a compatible trusted execution environment, like Intel's Software Guard Extensions and Windows Server's Virtual Secure Mode. TEE stands for trusted execution environments.


Microsoft has announced that it is working with Intel and other blockchain leaders on a new framework geared towards bringing the technology to the enterprise. “Our mutual customers are excited by the potential of blockchain. It allows users to keep a record of transactions (or really anything that transpires between different entities) in a secure, decentralized "ledger". This then creates a trusted network that agrees on the CoCo code and ledger, removing the need to perform a proof-of-work, thereby increasing the transaction speed. Some businesses are such that they can not tolerate delays. Ethereum could only manage around 15 transactions per second at a latency of 56,520 milliseconds, or nearly a minute.

The Coco Framework is an open-source system meant to reduce the complexities of implementing high-scale, confidential blockchain network.

Integrated with a blockchain network, the Coco Framework promises performance of more than 1600 transactions per second while maintaining data confidentiality and providing a distributed governance model for running the consortium.

Implementation within an established corporate technology infrastructure-this is what Microsoft is hoping to solve with its approach. Accelerated throughput is achieved by isolating the transaction verification process.

"To start with a general framework is a step in the right direction for the advertising industry", said Ken Brook, CEO at MetaX, which is building out technology to run on top of the Ethereum blockchain specific for digital advertising.



Other News

Trending Now

Former Vanderbilt star Jordan Matthews traded to the Buffalo Bills
Matthews, along with a 2018 third-round pick, was traded from the Philadelphia Eagles to the Bills for cornerback Ronald Darby . Matthews is dealt to Buffalo just moments after news surfaced that the Bills traded top wideout Sammy Watkins to the Rams.

Korea War Would Be 'Catastrophic,' Diplomacy Bearing Fruit: US's Mattis
"The DPRK should cease any consideration of actions that would lead to the end of its regime and the destruction of its people". Since 2015, Guam has been defended by the U.S.

Quantum communication breakthrough: China sends 'hack-proof' cipher from space
The post China sets world record, sends unbreakable code from satellite to Earth appeared first on Vanguard News . Quantum-based computing is secure and relies on laws of physics instead of mathematical encryption.

#EndorseThis: Bill Hader Returns To SNL As 'The Mooch'
They proved that the summer series will be just as buzzworthy and unmissable as SNL's regular season. But the highlight of the evening, as she is every evening, was Leslie Jones as herself.

Arsene Wenger wants goal-a-game from top gun Alexandre Lacazette
The Gunners have won only one of their last seven opening day Premier League fixtures, losing three of the last four (W1 D3 L3). Arsenal could be without several key players with Alexis Sanchez ruled out by injury and Laurent Koscielny suspended.

100-year-old Antarctic fruitcake found in '(almost) edible' condition
Scott's famous Antarctic expedition was both scientific and powered by a desire to be the first person to reach the South Pole. Lizzie Meeks, the trust's artefacts manager, said the cake was found among a stock of food supplies abandoned by...

NVIDIA Corporation (NVDA) Stock Rating Lowered by Vetr Inc
Out of the 24 analysts polled in the past 3 months, 16 rate Nvidia stock a Buy, 6 rate the stock a Hold and 3 recommend a Sell. Cantor Fitzgerald maintained Cyanconnode Holdings PLC (LON:CYAN) on Tuesday, January 26 with "Buy" rating.