What is Coco?
Coco, short for Confidential Consortium, is a blockchain framework developed by Microsoft. It is designed to improve the scalability, privacy, and safety of a blockchain network for enterprise use. Firstly announced in 2017, Coco aims to address the limitations of traditional blockchain technology by providing a modular, pluggable, and flexible framework.
Key Features of Coco
- Scalability: Coco uses a consensus mechanism based on Proof of Elapsed Time (PoET) to achieve high transaction throughput.
- Privacy: Coco integrates trusted execution environments (TEEs) like Intel’s Software Guard Extensions (SGX) to ensure confidentiality of transactions.
- Safety: Coco offers a secure and compliant environment for sensitive data and transactions, ensuring regulatory requirements are met.
Examples of Coco Implementations
Several companies have adopted Coco for various use cases. One notable example is the partnership between Microsoft and R3 Corda to enable seamless integration of Corda distributed ledger technology with the Coco framework for enhanced privacy and scalability.
Case Study: Coco in Healthcare
In the healthcare industry, Coco has been leveraged to create secure and private networks for sharing patient data among healthcare providers. This ensures patient privacy while allowing efficient collaboration and data exchange.
Statistics on Coco Adoption
According to a survey conducted by Deloitte, 67% of enterprises are exploring or already deploying blockchain technology, with privacy and security being their top concerns. Coco’s focus on confidentiality and scalability addresses these concerns, making it an attractive choice for enterprise blockchain solutions.
