Microsoft is developing a blockchain-based Ethereum.

Microsoft is developing a blockchain-based Ethereum.

Microsoft is developing a blockchain - based Ethereum Azure Blockchain. The project aims at the integration of Microsoft technologies in the Ethereum network, with the aim of creating a platform for business.

Unlike traditional blockchains, for example, Bitcoin, the Blockchain is Azure implemented algorithm "proof of authority" (Proof-of-authority), which makes the blockchain is centralized, but at the same time, allows to improve network performance.

Microsoft representatives spoke about their plans: "Azure Blockchain will consist of the approved node-validator, which will interact users and applications to complete transactions. The processing time of the money transfer will be from 5 to 45 minutes depending on the amount and load of the network. After the completion of the transaction, the user will be able to vote for validators in a decentralized Governance application. Blockchain Azure will be compatible with existing networks."

It is also important to note that Azure Blockchain has a high level of cryptographic security and uses the platform's cloud storage Microsoft.

At the moment in Azure Blockchain already created apps for the following areas of business:

  • Insurance.
  • Payment service for payment of transport services.
  • Issuance of licenses to publishers of Xbox games.
  • Tracking the supply chain of goods.
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