Microsoft releases new Ethereum protocol
Ethereum Enterprise Alliance goes live
Microsoft, member of Ethereum Enterprise Alliance released released Confidential Consortium (Coco) Framework, Ethereum based protocol. Microsoft is aiming corporations to help them process information on Ethereum blockchain with lower cost without sacrificing security.
Mark Russinovich, CTO of Microsoft Azure, in an official statement 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.”
Microsoft approach to Ethereum scalability is to develop off-chain protocols. This off-chain protocols, also known as "side-chains" will help Ethereum protocol reaching millions of transactions per second. If scaling is successful, Ethereum network will be direct competition to cloud services like Amazon Cloud with lower costs and higher security. Some even speculate that if Ethereum reaches millions of transactions per second could potentially boost the value of ether tokens to $2,000 per coin.
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as always reat post
Great news, just would have liked if you could have added the date when this was announced.
Good point. It was released on August 10. I added the source too.
Microsoft and Ethereum? Interesting... Really interesting. :)
Cheers mate!
Microsoft is only one of the members of EEA. There are many other big names like JP Morgan, Intel, Cisco, MasterCard, UBS etc. We like them or not, they are going to bring great value to the ecosystem.
Cheers.
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