MicroStrategy Founder and Chairman Michael Saylor announced on the 1st the launch of MicroStrategy Orange, a decentralized identity protocol built on the Bitcoin Ordinals protocol. Saylor believes that anchoring digital identities on the Bitcoin blockchain is highly meaningful because it will be protected by the powerful and secure Bitcoin network.
During the 2024 MicroStrategy World conference held on the 1st, MicroStrategy, the dominant holder of Bitcoin among US-listed companies, announced a new plan to launch the decentralized identity platform MicroStrategy Orange. According to Decrypt, Cezary Raczko, the Executive Vice President of MicroStrategy, stated that MicroStrategy Orange is a decentralized identity application enterprise platform built on the Bitcoin network. The platform consists of three basic components, with its core being a cloud-hosted service that allows enterprises to issue identification for users.
Raczko further explained that MicroStrategy Orange allows enterprises to deploy pre-packaged applications that can run on the platform. The Orange software development kit will enable programmers to easily utilize these functions and integrate them into their own applications and systems.
According to the MicroStrategy Orange introduction document, the protocol uses a method similar to Ordinals, but with some modifications, to handle documents. It only stores data related to decentralized identities (DID), which means that documents can be created and updated with almost no limitations in terms of size and content, while utilizing Bitcoin’s Segregated Witness (SegWit) functionality.
Decentralized identity applications have wide-ranging uses. Raczko provided an example of using MicroStrategy Orange to generate Bitcoin-based public and private keys for email. Raczko added that the decentralized identifiers of MicroStrategy Orange can also be used to verify the authenticity of users on social media applications, as well as the authenticity of text messages, university degrees, and medical records.
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