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Microsoft to release open source blockchain framework
11 August 2017, 06:44 | Patty Hardy
Microsoft announces Coco Framework to smooth blockchain adoption
This will also help Microsoft receive feedback on improvements to its Coco Framework as well as expand the scope on how the blockchain service is deployed. Microsoft says Coco and Ethereum can handle up to 1,600 transactions per second making the platform roughly 100 times faster. We think blockchain is going to potentially transform every industry. However, like a lot of emerging technologies, it is quite complicated to implement within an established corporate technology infrastructure, which is what Microsoft is hoping to solve with its approach. The company now supports various blockchain efforts including Ethereum and the Linux Foundation'sHyperledger project. While providing sturdy security for the blockchain, the Xeon processors are also expected to boost the performance of the new technology.
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.
"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". For example, an enterprise that wants to use a blockchain to manage its relationships with suppliers might want one or two companies to be able to view all the transactions on a network while limiting other participants to viewing a subset of those deals.
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Throughput and latency approaching database speeds.
Coco is compatible with any ledger protocol which can be run anywhere from in the cloud or on premises, and on any operating system and hypervisor that supports a compatible trusted environment. 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. 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.
Blockchain is a digital record-keeping system where digital transactions are executed, validated and recorded chronologically and publicly. "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". "Opening up Coco is a way to scale development far beyond the reach and imagination of our initial working group, and our intent is to contribute the source code to the community in early 2018".
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