Microsoft has announced its latest foray into blockchain technology in the form of the Coco Framework, which is hoped to catalyze blockchain development when it is eventually released to the public in 2018.
This project will aim to provide a environment to catalyze the development of blockchain applications. Garnering interest from many of its clients, Microsoft has announced the framework will essentially allow code to be executed in individual environments called Trusted Execution Environments which are to be backed up with various technologies such as Intel’s software guard extensions and Windows virtual mode. Allowing developers to run code in confidence and safety, the framework will also allow developers access to a much faster platform allowing ledgers to process up to 1600 transactions every second while current blockchain technology is limited in the rate of transactions it can handle.
“Our mutual customers are excited by the potential of blockchain. Intel is committed to accelerating the value of blockchains powered by Azure on Intel hardware, by improving the scalability, privacy and security of the solutions based on our technologies.”
The framework being developed is also aiming to satisfy the needs of companies as it develops a privacy layer on top of current ethereum blockchain technology. Not only is it predicted to be blazing fast, but the framework will also protect identities of clients and parties despite blockchain services being public for all. Furthermore the framework also allows multiple TEE’s to operate alongside each other and communication between blockchains will also be possible.
To conclude, Microsoft have announced their biggest blockchain project, the Coco Framework. It aims to deal with some of the inherent limitations of blockchain technology such as speed and versatility while handing developers the tools needed to encourage the adoption of the technology around the globe.