Bitcoin

MicroStrategy Unveils Bitcoin-Powered Decentralized ID Solution, Introducing MicroStrategy Orange

MicroStrategy, headed by Michael Saylor, has revealed plans to introduce a decentralized identity solution on the Bitcoin blockchain network. This new solution, named MicroStrategy Orange, will utilize Ordinal-based inscriptions for storing and accessing information.

During the Bitcoin For Corporations conference on May 1, Saylor announced the launch of MicroStrategy Orange as an open-source platform capable of handling up to 10,000 decentralized identifiers without relying on sidechains. According to a draft document on GitHub, MicroStrategy Orange aims to provide trustless and tamper-proof decentralized identities using only the public Bitcoin blockchain. This system will allow for pseudonymity, ensuring that real-world identities remain detached from Bitcoin transactions.

The platform consists of three main services – Orange Service, Orange SDK, and Orange Applications. With the Orange Service, users can assign decentralized IDs to their staff members for application deployment. The Orange SDK and Orange Applications offer customization tools for integrating specific services on mobile and desktop devices.

MicroStrategy has also developed an application called “Orange For Outlook” that integrates digital signatures into emails, enabling recipients to verify the sender’s identity. To use this application, users must accept an invitation email signed by MicroStrategy’s DID, generating a unique DID for the user along with a public and private key pair. These identifiers are recorded on the Bitcoin network, allowing users to send invitations to their staff members to establish their own digital identities.

Saylor emphasized the importance of anchoring digital identities in the secure Bitcoin blockchain, highlighting the system’s robust security compared to traditional enterprise security measures. The company aims to expand MicroStrategy Orange applications to various messaging platforms, social media networks, and other industries like e-commerce and fintech.

For more information, visit the original article on Coinspeaker: https://www.coinspeaker.com/microstrategy-bitcoin-id-solution-orange/

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