Microsoft unveils Coco: blockchain protocol technology

Microsoft launches Coco Framework - a blockchain protocol technology 
11 August 2017   1449

Microsoft, an American multinational technology company which develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and services, announces the Confidential Consortium Framework, a technology that strives to make blockchain systems quicker and more secure.

Thus, according to the report, the Coco Framework will include Ethereum, R3 Corda, Intel’s Hyperledger Sawtooth, and JP Morgan’s Quorum.

Blockchain is a transformational technology with the ability to significantly reduce the friction of doing business. Microsoft is committed to bringing blockchain to the enterprise. We have listened to the needs of our customers and the blockchain community and are bringing foundational functionality with the Coco Framework. 
 

Mark Russinovich
Chief technology officer of Azure at Microsoft

However, the Microsoft team draws special to the fact that the Coco Framework is not a blockchain itself and it is not tied to Azure, Microsoft’s cloud computing service.

According to the Coco Framework white paper, “enterprise-ready blockchains networks” will deliver many benefits including:

  • Throughput and latency approaching database speeds.
  • Richer, more flexible business-specific confidentiality models.
  • Network policy management through distributed governance.
  • Support for non-deterministic transactions.
  • Reduced energy consumption.

The Coco-enabled blockchain networks now can achieve transactions speeds in excess of 1,600 transactions per second. 

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   83

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.