Introducing The Coco Framework
A growing number of companies are showing interest in blockchains, but the underlying software does not meet key business requirements such as performance, confidentiality, governance, and required processing power.
However, Microsoft wants to help solve these problems and make it easier for companies to build their networks using any distributed log.
Microsoft unveiled a framework called “Coco” – an abbreviation for “Confidential Consortium” – a new open-source base for blockchain business networks.
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Coco framework is an Etereum-based protocol that is designed to help commercial companies and large corporations process information about the Ethereum Blockchain with more privacy.
“Coco framework presents an alternative approach to Ledger’s construction, giving companies the ability to scale-up, distribute governance and greater confidentiality needed without sacrificing the security and immutability they envisage,” said Mark Azinovo, Microsoft’s Azure CTO, in a statement. official.
The framework can be integrated with a variety of popular block networks and open-source distributed registers, including R3 chain Etereum, Intel Quorum sawtooth Hyperledger, and JPMorgan.
Since the Blockchain transaction speed is so slow that it can handle only a handful of transactions in a second, the company wants the technology to handle a thousand or more transactions per second.
To address this obstacle, the Coco framework leverages the power of existing blockchain protocols, the TEE – SGX including Intel (Guardian software extensions) and Safe mode of Virtual Windows (VSM), distributed systems, And encryption.
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TEE With these, you can build a network of trusted enclaves that all agree on the main book and the code execution Coco framework they provide:
- Performance and speeds close to the database latency rate.
- In comparison, the specific business models, more flexible confidentiality.
- The management of network policies through distributed governance.
- Support for the non-deterministic transaction.
In a video demo, Marco Coco has led to a volume increase of about 1,700 transactions per second using a private version of the ethereal block, compared to around 13 transactions per second without the frame.
However, the average transaction speed of the block strings integrated with the Coco framework is approximately 1,600 transactions per second, allowing companies to check permissions on a network without slowing down the process.
Microsoft said the company has already begun exploring Coco’s potential in a variety of industries, including supply chains, retail and financial services.
“Being able to manage the existing supply chain, the much faster Dapp code in the Coco framework is a great performance enhancement that will reduce friction when it comes to the availability of Blockchain business with our retail customers,” said Tom Racette, vice president of Mojix.
“By adding privacy-supporting data without sacrificing this improvement is what will enable us to lead the digital transformation we are seeing with Intelligent Supply Chains.”
Microsoft said the Coco framework will be ready in 2018 and will be published as open-source software. The company has created a technical document available on GitHub.