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.
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.