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New Intel processor to help secure blockchain consortium

Business news |
By Rich Pell

The announcement came at Intel’s recent launch event for its new Xeon Scalable processors, which feature extended security features for cloud computing applications. According to R3, the Xeon’s hardware capabilities are especially suited for the banking consortium’s members.

“Transaction privacy is usually the top issue blocking real-world deployment,” says Mike Hearn, lead platform engineer at R3. According to Coindesk, R3 says that by integrating Xeon with Corda, its consortium members will be able to capitalize on a shared, distributed ledger on which they can all agree.

“What it allows you to do,” Hearn told Coindesk, “is send a counterparty a chain of custody, proof that an asset or a current state of the ledger has a valid history. Yet, the counterparty can’t actually read that history itself. They can only process it to verify that it is valid and that the rules were followed.”

According to Intel, the new Xeon Scalable platform “can support up to 4.2x more virtual machines and up to 5x more transactions per second than 4-year-old systems.” The processors offer up to 28 cores and up to 6 terabytes of system memory, and can process up to 5x more inputs/outputs per second at up to 70% lower latency for data storage.

“Intel is the perfect partner for Corda,” says R3 CEO David Rutter. “The platform was developed from the ground up to address the specific needs of the industry, with design choices such as its unique approach to data privacy and security that make it the only appropriate distributed ledger technology solution for regulated wholesale financial markets.”

Earlier this year, Intel along with several major banks invested $107 million into R3 as part of a three tranche financing process. The final funding installment is expected to occur later this year.

R3
Intel

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Bitcoin technology to be tested in stock market
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IoT blockchain alliance promises security down to chip level
3D printing: Blockchain locks copycats out


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