Reportedly, Microsoft published its two of its new patent applications. As per the industry experts, the recent move from Microsoft indicates that the firm is looking for the utilization of trusted execution environments (TEEs) within its blockchain contributions.
As per the data collected from two filings that were earlier published by the U.S. Patent and Trademark Office, a TEE is stipulated for the storage of the priorly committed form of blockchain or other security protocol code in a validation node.
With such type of data, an attestation of TEE can validate members of the structure possessing identical data apprehended in the node. In blockchain, a node can be defined as a spot of connection that can accept, store, and dispatch data within the network.
And the usefulness of the same can be explained in two ways. Initially, a TEE might be helpful in the organization of a consortium blockchain network. By introduction of the initial node of the blockchain for the storage of a priorly established membership list among other parts of data, a TEE attestation might be utilized to strongly onboard associates of the consortium network.
Secondly, a TEE may also be useful to verify blockchain dealings on a parallel system in which numerous pre-authorized individuals have to interact. For instance, with the use of this attestation process using programmed TEEs again, specifically encrypted dealings on the system may possibly be processed as well as verified only to the authorized state of the blockchain without any requirement for decryption.
On a similar note, earlier, tech firm Tencent proclaimed that the company believes blockchain might help in speeding up the repayment of expenses for company employees. The firm is testing the latest feature on its WeChat app to check the same.
As per the blog post by Tencent, the company has introduced the application at a local eatery in Shenzhen, China, where the user paid the bill using its present payments service WeChat Pay.