iExec Delivers Blockchain Solution for Data Protection Using Intel SGX

On November 1, iExec, a decentralized marketplace for computer power based in Lyon, France, released its end-to-end trusted execution environment.

According to iExec developers,

this technology is “the first Intel SGX scalable solution for businesses to achieve privacy and security for blockchain-based computing.”

What is Intel SGX?

SGX is an abbreviation of Software Guard Extensions, the architecture solution introduced by Intel back in 2015. Designed to increase the security of application code and its data, Intel SGX introduced additional data protection through the use of “enclaves,” isolated regions of memory built into the CPU. The unique feature of this data protection solution is that it protects data from processes running at any privileged levels, including the operating system itself.

According to the iExec statement, enclaves are paradigm-shifting tools, and with their help, you could “run any applications on any computer without the fear of disclosing sensitive data to a third party.” In other words, enclaves are like “bubbles” or “safes,” protecting and isolating an application from a host machine, while even the root privilege administrator isn’t able to interfere.

On-demand marketplace for cloud resources

According to iExec, their marketplace solution allows application developers to access affordable, secure and scalable computing power on-demand, where Proof-of-Contribution algorithm audits and certifies each transaction between buyers and sellers.

iExec is currently in the process of building the “iExec V3” – the marketplace that will evolve beyond the trading of cloud power and will integrate the trading of datasets as well. iExec provides developers with toolkits for building decentralized applications to run on a decentralized network of nodes, delivering a high level of security and scalability.