Business technology major Microsoft today announced blockchain technology innovation called Coco Framework.
Microsoft said the Coco Framework reduces complexity, and addresses critical needs for commercial adoption like high-transaction speed, distributed governance and confidentiality.
“Blockchain is a transformational technology with the ability to significantly reduce the friction of doing business,” said Mark Russinovich, chief technology officer of Azure at Microsoft. “Microsoft is committed to bringing blockchain to the enterprise.”
“Through an innovative combination of algorithms and trusted execution environments (TEEs), like Intel’s Software Guard Extensions (SGX) or Windows Virtual Secure Mode (VSM), this takes the next step toward making blockchain ready for business,” Mark Russinovich said.
Benefits of Coco Framework
# Transaction speeds of more than 1,600 transactions per second
# Easily managed data confidentiality without sacrificing performance
“Our mutual customers are excited by the potential of blockchain. Intel is committed to accelerating the value of blockchains powered by Azure on Intel hardware, by improving the scalability, privacy and security of the solutions based on our technologies,” said Rick Echevarria, vice president, Software and Services Group and General Manager, Platforms Security Division at Intel.
The Coco Framework by design will be compatible with any ledger protocol and can operate in the cloud and on premises, on any operating system and hypervisor that supports a compatible TEE. Initial Coco Framework implementations will include R3 Corda, Intel Hyperledger Sawtooth, J.P. Morgan Quorum, and Ethereum.
Microsoft said it will launch Coco Framework on GitHub in 2018 as an open source project and will work with customers and partners, as well as the blockchain technical and business communities, to advance foundational blockchain technology.