Sci-tech

Microsoft introduces Coco Framework, makes blockchain networks enterprise ready

Microsoft introduces Coco Framework, makes blockchain networks enterprise ready”

IBM released a commercial blockchain product in March of this year, but enterprise computing vendors have been taking baby steps toward adopting this technology.

The Coco Framework needs a trusted execution environment because it relies on shared trust between machines running modified blockchain software in order to avoid the need for transaction verification. The CoCo Framework is a big help for enterprises, as more and more enterprises are looking to apply blockchain to meet business needs. This is because existing systems were created to function-and to achieve consensus-in public scenarios amongst anonymous, untrusted actors with maximum transparency. These safeguards, while necessary to ensure the integrity of public blockchain networks, require tradeoffs in terms of key enterprise requirements such as scalability and confidentiality.

"Blockchain is a promising and exciting new technology for secure online transactions", Change Healthcare CTO Aaron Symanski said in a statement.

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.

The Coco Framework looks to address these problems by "designing specifically for confidential consortiums", the post said.

"Coco presents an alternative approach to ledger construction", said Mark Russinovich, chief technology officer at Microsoft Azure (pictured), "giving enterprises the scalability, distributed governance and enhanced confidentiality they need without sacrificing the inherent security and immutability they expect".

There are obvious security benefits to using this type of approach for transactions between companies and their suppliers, and it could be a much more efficient way of doing business than 90-day purchase orders and invoices.

The framework isn't a distributed ledger itself, but it's created to replace and augment parts of other blockchain software, like Ethereum, in order to accelerate transaction throughput, allow access controls for transactions, and help organizations manage governance.

Support for non-deterministic transactions.

Blockchain is the underlying technology behind the Bitcoin digital currency, but it has lots of other potential uses that have technologists and venture capitalists excited. Microsoft has already begun integrating Ethereum into Coco and JP Morgan Chase, Intel and R3 have committed to integrating enterprise ledgers, Quorum, Hyperledger Sawtooth and Corda, respectively. By using that shared trust, it's possible to bypass transaction verification operations like those required by the current open source version of Ethereum.

Coco, itself, isn't a ledger. We are building in this flexibility in part to allow the community to integrate Coco with additional protocols, try it on other hardware and adapt it for enterprise scenarios we haven't yet thought of. The aim is to speed up the adoption of blockchain-based systems in the enterprise, whilst simultaneously increasing privacy.



Like this

Latest


10 August 2017
BMO Capital Markets Reaffirms Outperform Rating for Huntington Bancshares Incorporated (HBAN)
The bank reported $0.26 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.23 by $0.03. Over the last three months, the shares of the company have changed -15.52% and performed -21.87% over the last six months.

10 August 2017
Take a look at Price Move: KAR Auction Services, Inc. (KAR)
Hbk Sorce Advisory Limited Liability Corp holds 0.06% of its portfolio in KAR Auction Services Inc (NYSE:KAR) for 7,239 shares. Over the last three months, the shares of the company have changed -5.61% and performed -10.31% over the last six months.

10 August 2017
UCF student accused of sexual battery; another suspect sought
The alleged rape took place during Alpha Tau Omega's on-campus house party "Christmas in July", on July 22, according to police. UCF Police said Tuesday the second suspect is a UCF graduate and not from the area, the Orlando Sentinel reported .

10 August 2017
Game of Thrones TV company suffers breach
The group also leaked multiple internal documents related to " Game of Thrones ", including internal marketing material. Last month's hack of HBO may be more extensive than originally thought.

10 August 2017
Police investigate unidentified substance in envelope delivered to London business
Police are not treating the incident as terror-related and said that the substance has been identified as "naturally occurring". Feng Sushi was caught up in the recent terror attack at Borough Market when three attackers killed eight people on June 3.

10 August 2017
Obama llama a elecciones "pacíficas y creíbles" en Kenia
La votación en Kenia suele basarse en los sentimientos de pertenencia étnica. Se considera que otros candidatos no parecen que tengan mucha suerte.

10 August 2017
Distressed boater call leads Coast Guard to marijuana seizure
The Coast Guard got a radio distress call from a power boat in worldwide waters about 29 miles off Point Loma on Sunday morning. A blue kayak and a yellow kayak were seen floating in Sound and authorities are trying to figure out who the kayaks belong to.

10 August 2017
Battery inside woman's purse explodes, catches fire
Firefighters don't know what type of battery caused the explosion but do believe it was from a cell phone. Nicholson advises everyone to carefully read device manuals and take note of its care and maintenance.

10 August 2017
Kohl's Corp. reports higher net income, earnings in Q2
Kohl's Corporation has a dividend payout ratio of 60.9% indicating that its dividend is sufficiently covered by earnings. Inc. now owns 5,732 shares of the company's stock worth $228,000 after buying an additional 66 shares during the period.

10 August 2017
Tata Motors and Volkswagen call off joint development talks
Mumbai: Tata Motors and Volkswagen Group's Skoda Auto are set to call off their proposed agreement to co-develop cars. In March, VW and Tata agreed to cooperate on mobility services for developing countries.



Recommended