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Microsoft updates Ethereum consortium blockchain network

Friday 4 November 2016 11:20 CET | News

Microsoft has announced plans to update its Ethereum consortium blockchain network and will enable groups of companies to deploy a private Ethereum network with a single click.

The company intends to build a sandbox for developers, working with customers and partners to develop and test combinations of technologies. If successful, the tech giant hopes the project will help entire industries work together to build more easily complex consortia that better leverage the network effects of shared, immutable ledgers.

The update includes also five new tools specifically designed to let consortia networks develop more complex smart contracts for any number of self-executing business applications. Furthermore, the Ethereum Consortium Blockchain Network automatically creates user private keys to satisfy security requirements.

Initially, the improved Ethereum Consortium Blockchain Network is available as part of a free trial to anyone. However, on the long-term the company might charge users to host the network in the Microsoft Azure cloud computing environment.

Currently, Microsoft is not sharing the names of the companies building with the network, but the company has already customers using the service.


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Keywords: Microsoft, Ethereum, blockchain, cryptocurrency, Bitcoin, blockchain consortium, private Ethereum, US, innovation, Microsoft Azure, software, cloud computing
Categories: DeFi & Crypto & Web3
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Countries: World
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DeFi & Crypto & Web3






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