The tech giant Microsoft launched its Coco Framework that will advance enterprise adoption of blockchain technology, The Cointelegraph reports.
Current blockchain protocol technology requires complicated development techniques to meet the operational and security needs of enterprises. The Coco Framework reduces this complexity, and when integrated with blockchain networks addresses critical needs for commercial adoption like high-transaction speed, distributed governance and confidentiality.
“They trust the TEE to prevent outside tampering – so a transaction processed by one of them is simply broadcast and you use a normal quorum-based algorithm for achieving consensus like any kind of distributed system. You don't have to worry about hostile parties, because the network is fully trusted. That removes the need for complex proof of work mining and other complex algorithms, and that gives you throughput and latency that looks like what you would get out of any distributed database,” Microsoft Azure chief technology officer, Mark Russinovich, explained.
He added that their Coco Framework’s TEE enables the creation of a trusted network between every player in a consortium Blockchain.
According to Russinovich there are already several users of the Coco Framework including such big players as Intel, Chase Bank, and the Ethereum (ETH/USD) network.