Microsoft has launched its latest blockchain protocol in the Confidential Consortium (Coco) framework, an open-source system that offers large-scale,
Microsoft has launched its latest blockchain protocol in the Confidential Consortium (Coco) framework, an open-source system that offers large-scale, confidential blockchain networks for companies and organizations.
Cryptocoinnews.com reported Microsoft`s announcement regarding their Coco Framework. The latter is reportedly addressing critical needs for commercial adoptation like high-transaction speed, distributed governance and logistics.
“Coco achieves this by designing specifically for confidential consortiums, where nodes and actors are explicitly declared and controlled.”, according to Mark Russinovich, technology chief at Microsoft Azure, the technology company`s cloud computing platform.
As stated in Microsoft`s press release, the Coco Framework provides some benefits like:
- Transaction speeds of more than 1,600 transactions per second
- Easily managed data confidentiality without sacrificing performance
- A comprehensive, industry-first distributed governance model for blockchain networks that establishes a network constitution and allows members to vote on all terms and conditions governing the consortium and the blockchain software system
“By design, Coco is open and compatible with any blockchain protocol. Microsoft has already begun integrating Ethereum into Coco and we’re thrilled to announce that J.P. Morgan Chase, Intel and R3 have committed to integrating enterprise ledgers, Quorum, Hyperledger Sawtooth and Corda, respectively. This is just the beginning, and we look forward to exploring integration opportunities with other ledgers in the near future.”, stated Mark Russinovich, CTO, Microsoft Azure.