Microsoft unveils open-source blockchain framework

Microsoft unveils open-source blockchain framework

Coco Framework compatible with existing blockchain protocols

Microsoft has unveiled details of the Coco Framework, which it says will help boost enterprise efforts to develop blockchain-based services.

Coco Framework is an “open-source system that enables high-scale, confidential blockchain networks that meet all key enterprise requirements—providing a means to accelerate production enterprise adoption of blockchain technology,” Microsoft Azure CTO Mark Russinovich wrote in a blog entry.

“Coco achieves this by designing specifically for confidential consortiums, where knots and actors are explicitly announced and managed. Based on these requirements, Coco presents an alternative treatment to ledger construction, providing enterprises the scalability, distributed governance and enhanced confidentiality they need without sacrificing the inherent security and immutability they expect.”

The software company has released a technical whitepaper on the framework.

Coco re-evaluates existing assumptions for public blockchain protocols “in the context of a confidential consortium, where knots and actors (including voting members and other non-voting participants) are explicitly announced and managed,” the whitepaper states.

Coco relies on trusted execution environments (TEEs) such as Intel’s SGX and Windows Virtual Secure Mode (VSM), Microsoft said. This enables the creation of a “trusted network of physical nodes” on which a blockchain-style distributed ledger can run.

The framework can produce throughput and latency close to database speeds, according to Microsoft, potentially achieving one thousand six hundred transactions per 2nd.

Coco is not restricted to a particular blockchain protocol: Initial Coco Framework implementations will include R3 Corda, Intel Hyperledger Sawtooth, J.P. Morgan Quorum, and Ethereum, Microsoft said.

The framework is compatible with on-premise and cloud implementations.

“We have already begun exploring Coco’s potential across a multitude of industries, including retail, supply chain and financial services,” Russinovich wrote.

In Australia, businesses have been exploring the potential application of blockchain and distributed ledger technology (DLT) to a range of industries.

Western Australia’s CBH Group recently exposed it has partnered with startup AgriDigital for a pilot that will test the capability of blockchain to suggest an efficiency boost for grains treating.

Australia’s banks have publicly exposed details of some of the trials they have run using DLT. The ASX has said it will potentially substitute one of its major systems with a DLT-style solution.

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