MicroStrategy Founder and CEO 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 benefit from the powerful and secure protection of the Bitcoin network.
During the MicroStrategy World 2024 conference, the US-listed company MicroStrategy, which holds the largest amount of Bitcoin, revealed its new plan. MicroStrategy Orange is a decentralized identity platform built on the Bitcoin network. According to Cezary Raczko, Executive Vice President at MicroStrategy, the platform consists of three key components, with its core being a cloud hosting service that allows enterprises to issue identities to users.
Raczko further explained that MicroStrategy Orange enables enterprises to deploy pre-packaged applications that can run on the platform. The Orange software development kit (SDK) will make it easy for programmers to use these functionalities 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 (DIDs), which means that documents can be created and updated with almost no limitations in terms of size and content, while leveraging Bitcoin’s Segregated Witness (SegWit) feature.
Raczko provided an example using email to illustrate how MicroStrategy Orange generates Bitcoin-based public and private keys. Additionally, he mentioned that the decentralized identities of MicroStrategy Orange can be used to verify users on social media applications or the authenticity of text messages, university degrees, and medical records.
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