Microsoft, the $561 bln US-based technology company, has released the Confidential Consortium (Coco) Framework. It is an Ethereum-based protocol which commercial companies and large-scale organizations will be able to utilize to process information on the Ethereum Blockchain with increased privacy.
In an official announcement, Mark Russinovich, the CTO at Microsoft Azure, the company’s cloud computing arm, said: “Coco presents an alternative approach to ledger construction, giving enterprises the scalability, distributed governance and enhanced confidentiality they need without sacrificing the inherent security and immutability they expect.”
One of the most unique aspects of the Coco Framework is that it leverages local hardware-based environments such as Intel’s trusted execution environments (TEEs), to facilitate the settlement of information in an off-chain Ethereum Blockchain ecosystem. By processing data in a separate ecosystem, it allows Microsoft to provide a more functional and flexible infrastructure for decentralized applications.
Microsoft’s Coco Framework and some other smart contract-based platforms that are being developed by organizations within the Enterprise Ethereum Alliance will further enhance Ethereum’s scalability by leveraging off-chain solutions and as a result, allow decentralized applications to secure active user bases and process large amounts of data without running into conflict with security issues.
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