Blockchain was already part of the Bitcoin cryptocurrency and was intended for unrestricted use with anonymous, untrusted actors and full business transparency.
This involves every member in the blockchain system would perform all transactions added to it, giving them visible to everyone with no confidentiality and inappropriate for enterprise use.
Existing blockchain rules also apply computationally intense consent algorithms, leading to poor scalability, with production as slow as 10 to 20 transactions per second.
Microsoft announced the Coco Framework is cooperative with current blockchain networks and was created specifically for individual consortia, where nodes and actors are explicitly listed and controlled.
Integrated with a blockchain network, the Coco Framework ensures the performance of more than 1600 transactions per second while preserving data confidentiality and providing a shared governance model for running the consortium.
It is not a blockchain itself, yet, but a company to deliver enterprise-ready shared ledger solutions, Microsoft said.
The Coco Framework will use trusted execution environments (TEEs) like Intel’s software guard extensions (SGX) and Microsoft’s Windows Virtual Secure Mode (VSM) to guarantee that the code is not tampered with.
Coco can run on any operating system and hypervisor layer that carries a compatible TEE, in the cloud or on in-house servers.
Microsoft will release Coco as open source on Github next year and has begun work on integrating the Ethereum cryptocurrency into the framework.
It will also be utilized by the JP Morgan Quorum, Intel Hyperledger Sawtooth, and R3 Corda business ledgers.
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