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Microsoft Launches Advanced Enterprise Blockchain Service

· August 20, 2017 · 1:00 pm

Microsoft has announced the launch of Coco – a first-of-its-kind ultra fast and secure blockchain service for companies that can process over 1,600 transactions per second.

Microsoft’s New Blockchain Service

Recently, Washington-based tech giant Microsoft announced a new blockchain framework designed for enterprise systems. The new framework, called Coco, will utilize Microsoft’s technology to offer an advanced, fast and reliable blockchain system. The main advantages of the Coco framework are its ability to process over 1,600 transactions per second, something which neither the Bitcoin nor Ethereum blockchain can support at the moment.

The Coco framework will also use a unique technology called trusted execution environment (TEE). The trusted execution environment will be able to host the blockchain code in a secure box which will use Intel’s Software Guard Extensions or Windows’ Virtual Secure Mode in order to validate the environment. Coco framework will also be integrated into Microsoft’s Azure cloud storage service.

Coco Framework Generates Major Interest

Coco Framework Generates Major Interest

Even though Coco hasn’t been released yet, many enterprise corporations have already expressed their desire to use the blockchain service for their systems. Most prominent users of the Coco framework include Intel, R3 and JPMorgan Chase.

Rick Echevarria, the vice president of Software, Services Group and General Manager, Platforms Security Division at Intel expressed following about the new CoCo framework:

We are thrilled to work with Microsoft to bring blockchain to the enterprise. Our mutual customers are excited by the potential of blockchain. Intel is committed to accelerating the value of blockchains powered by Azure on Intel hardware, by improving the scalability, privacy, and security of the solutions based on our technologies.

In an article by TechSource, the CTO of Microsoft’s Azure platform, Mark Russinovich, expressed his following thoughts about CoCo:

Through an innovative combination of advanced algorithms and trusted execution environments, like Intel’s Software Guard Extensions or Windows Virtual Secure Mode, we believe this takes the next step toward making blockchain ready for business.

The most interesting aspect of Microsoft’s new blockchain service is the rising interest by a huge amount corporation for blockchain technology. In its current state, the Bitcoin and Ethereum blockchains are unable to support such large-scale amount transactions for big companies like JPMorgan or Intel. But with the new Coco framework, corporations will be able to use blockchain technology without having to sacrifice speed or the security of their systems.

What do you think about Microsofts new Coco framework? Do you think that more tech giants will use it for their internal systems? Let us know in the comments below!

Image courtesy of Pixabay, Microsoft

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Lisk Gears Up for May 24th Launch

Source: bitcoin


After a 5 month-long period of development, fundraising and community-building, Lisk is set to launch on May 24, 2016.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

The May 24 launch follows a highly successful ICO between February 22 and March 21, during which the team raised over $6 million USD. The team says that the funds raised during the ICO were in bitcoin “and other digital currencies.” Preparing for the launch on Tuesday, the team is putting the “final touches” on their platform.

With Lisk, developers can create applications on dedicated sidechains. Utilizing “the most widely used programming language, JavaScript,” the platform hopes to draw in developers from all different backgrounds.

The platform’s team believes that it gives developers “endless possibilities” for building blockchain applications. They say that the apps built on the List platform use “heavily customizable” sidechains, that “can be hosted on any cloud platform by creating a Blockchain as a Service (BaaS) Virtual Private Server (VPS).

Going into the launch, the team has organized a campaign to spread the word about their platform. The team currently has “ambassadors representing and actively promoting Lisk in 11 countries.” The team has also brought PR firm Transform PR on board to provide further promotional services.

In its 6 short months of life, the platform has partnered with Microsoft and Chain of Things “to offer world class support to developers using the platform.”

About Lisk

Started earlier this year, Lisk is a decentralized start-up, founded by two former Crypti team members Max Kordek and Oliver Beddows. This project is an open source platform built on an unreleased version of Crypti. The platform is positioned as an alternative to Ethereum platform and allows developers to create blockchain-based applications easily using JavaScript and publicly available Lisk APIs. Development is currently handled by a team of 5 along with Boris Povod and Alex Hellinger as advisers.

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Images courtesy of Lisk.

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Lisk Gears Up for May 24th Launch

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Credits Brings Blockchain-as-a-service To UK Public Sector

Source: bitcoin

Bitcoinist_Skyscape Cloud Services

Over the past few months, there have been some minor headlines regarding the UK government looking closely at blockchain technology. Credits has announced their strategic partnership to deliver blockchain-as-a-service to the UK public sector.

Also read: Crypto Valley In Switzerland Now Accepts Bitcoin For Train Tickets

Credits Delivers BaaS to UK Public Sector

The name Credits may ring a bell among blockchain aficionados as they are one of the blockchain infrastructure providers in the world. Their bread and butter is helping organizations in building robust blockchains focusing on authentication, reconciliation, and provenance. Moreover, the Credits blockchain solution is interoperable with existing legacy systems and other blockchain providers.

Now that this company has partnered with Skyscape Cloud Services Ltd, the blockchain will be brought to public sector organizations in the UK. But this will not be done in the traditional sense, as the partners roll out blockchain-as-a-service, giving government services complete access and freedom as to how they want to integrate this technology to complete day-to-day operations.

It is not the first venture for blockchain provider Credits in the public sector, as they have been working together the with Isle of Man Government on various initiatives. In fact, they developed the first-known government service running on the blockchain, a feat which has attracted a lot of attention from other governments around the world.

Nick Williamson, CEO, and founder of Credits, told the media:

“We’re seeing a growing number of organisations across industries beginning to explore how blockchain technology can help to streamline or modernise operations, or allow them to offer new, compelling services, and are thrilled to bring Blockchain-as-a-Service technology to the UK public sector in collaboration with Skyscape.”

Combining the blockchain-as-a-service business model by Credits with the assurance and security credentials provided by Skyscape will be quite an interesting project, to say the least. In this Information Age, the digitization of services need to pick up the pace, and collaborations like these seem tailored towards making that happen.

What are your thoughts on this blockchain-as-a-service model for the UK public sector? Let us know in the comments below!

Source: Press Release Via Email

Images courtesy of Credits, Skyscape

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Credits Brings Blockchain-as-a-service To UK Public Sector