October 02, 2017 By BlueAlly
October 2, 2017
Blockchain is transformative technology that has the potential to change the way enterprises, governments, and consumers coordinate workflows and exchange data and assets. Today at Oracle OpenWorld, Intel announced that its blockchain technology is being utilized by Oracle to deliver a cloud-based blockchain service to its enterprise customers.
Oracle’s Blockchain Cloud Service utilizes Intel® Xeon® Scalable processors, which include a broad set of hardware-based features that enhance blockchain security and performance. Intel Xeon Scalable processors are an ideal foundation for building Blockchain solutions, and partners see technologies like AVX-512 and AES-NI as valuable in optimizing the performance of cryptographic hashing and improving Blockchain security.
Intel’s collaboration with Oracle advances the use of blockchain technology within enterprises. Together, Intel and Oracle plan to:
- Simplify and refine database blockchain interactions by enabling both block updates for blockchains and a transaction update for traditional databases.
- Ensure transaction confidentiality and keep transactions private, even when multiple companies participate on the same blockchain network.
- Secure off-chain events (known in the industry as ‘oracles’) that inform smart contracts.
Intel and Oracle will advance these initiatives in the Linux Foundation’s open source project Hyperledger Sawtooth, and Oracle will seek to rapidly deploy new capabilities from this collaboration in its Blockchain Cloud Service.
Intel technologies establish a chain of trust rooted in hardware, protecting confidential information such as personal data and encryption keys, and accelerating crypto-operations so that strong blockchain security doesn’t mean compromised performance. On the software side, Intel is the creator of the open source Hyperledger Sawtooth project, which enables blockchain usages for enterprise and other segments and is designed to run on the Intel® Xeon® platform.
“Intel’s silicon, software and security technologies can improve blockchain privacy, security and scalability,” said Doug Fisher, senior vice president and general manager of the Software and Services Group at Intel. “We look forward to collaborating with Oracle to advance these capabilities and deliver new blockchain innovations to the industry.”
