That's a lot of obstacles, but Microsoft wants to help the blockchain space jump all of these hurdles at once with the release of its Coco Framework, a new open-source foundation for enterprise blockchain networks. Coco gives enterprises a distributed governance model for blockchain networks built into the software, allowing networks to configure their own voting rules and vote on upgrades or new members in the same fashion as validating a transaction. Using Coco, each node in an enterprise blockchain network would have a confidential computing environment. According to Russinovich, this eliminates the need for blockchain's compute-intensive Proof of Work model, giving enterprises the ability to manage confidential data on a blockchain while speeding up performance to more than 1,600 transactions per second. "Processing transactions inside the TEE, in which all parties trust that code, can help a distributed network achieve centralized database levels of latency and throughput while handling votes directly in the blockchain," said Russinovich. By using tools such as Azure Resource Manager (for creating complex cloud apps) in combination with its Blockchain-as-a-Service (BaaS) platform, the company built an environment designed to make it easy for enterprises to spin up their own blockchain networks, and then develop, test, and deploy cloud apps on top of them. For blockchain to achieve mainstream commercial adoption, Russinovich said it needs not just greater speed and scale but better distributed governance and data confidentiality in how the network achieves consensus and verifies transactions. To test whether Coco actually accelerates transaction speeds to enterprise-grade levels of throughput and latency, Microsoft ran a demo of a blockchain network running on the Coco Framework against one using a private Ethereum blockchain. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full