Blockchain technology is expected to dramatically transform many common business processes. The fundamental reason is it promises to enable a new form of trustworthy business processes among multiple,
mutually distrusting entities by offering the much-needed automation, auditability, transparency, and integrity without requiring enormous trust in the participating entities. However, existing proposals do not fully deliver the promises of blockchain technology. We are investigating new distributed systems and cryptographic techniques to build a secure and efficient blockchain.
Our principal work in this area is the VOLT project, which is exploring new consensus algorithms (with resource efficiency and scalability properties) as new mechanisms to ensure strong security and privacy in blockchain networks.
- Enabling secure and resource-efficient blockchain networks with VOLT (PDF)
Srinath Setty, Soumya Basu, Lidong Zhou, Michael L. Roberts, and Ramarathnam Venkatesan
Microsoft Research Technical Report MSR-TR-2017-38, August 2017.
Srinath Setty (srinath at microsoft dot com)