CDS Crypto News MicroStrategy Introduces MicroStrategy Orange: A Decentralized Identity Solution Built on Bitcoin Blockchain
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MicroStrategy Introduces MicroStrategy Orange: A Decentralized Identity Solution Built on Bitcoin Blockchain

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MicroStrategy Introduces MicroStrategy Orange: A Decentralized Identity Solution Built on Bitcoin Blockchain

MicroStrategy Introduces MicroStrategy Orange: A Decentralized Identity Solution Built on Bitcoin Blockchain

MicroStrategy has developed an application named Orange For Outlook on its platform, MicroStrategy Orange. This application integrates digital signatures into emails, providing verification of the sender’s identity.

Renowned as the largest corporate holder of Bitcoin, MicroStrategy has unveiled plans to launch a decentralized identity solution on the Bitcoin network. This solution, named MicroStrategy Orange, utilizes Ordinal-based inscriptions for storing and retrieving information.

During the Bitcoin For Corporations conference held on May 1, MicroStrategy’s executive chairman, Michael Saylor, introduced MicroStrategy Orange. Saylor highlighted its features, emphasizing its independence from sidechains and its capability to process up to 10,000 decentralized identifiers (DIDs) in a single Bitcoin transaction.

An unofficial draft document of the solution, shared on GitHub by MicroStrategy, outlines its objective as delivering trustless, tamper-proof, and enduring decentralized identities, solely utilizing the public Bitcoin blockchain as a data source.

DIDs enable pseudonymity, ensuring that real-world identities remain detached from Bitcoin addresses and transactions.

MicroStrategy Introduces MicroStrategy Orange: A Decentralized Identity Solution Built on Bitcoin Blockchain
MicroStrategy Introduces MicroStrategy Orange: A Decentralized Identity Solution Built on Bitcoin Blockchain 1

MicroStrategy Orange consists of three components: Orange Service, Orange SDK, and Orange Applications. The Orange Service enables users to issue DIDs to their personnel and deploy applications. Meanwhile, the Orange SDK and Orange Applications provide customization tools for integrating specific services across mobile and desktop devices.

One such application, already developed by MicroStrategy, is “Orange For Outlook,” which seamlessly integrates digital signatures into emails, enabling recipients to verify the authenticity of the sender.

The onboarding process entails accepting an invitation email signed by MicroStrategy’s DID. Subsequently, a unique DID, along with a public and private key pair, is generated for the user. The user’s DID and public key are then inscribed on the Bitcoin network, facilitating the initiation of invitations to personnel for creating their digital identities.

MicroStrategy envisions extending the reach of MicroStrategy Orange applications to other messaging platforms, social media networks, as well as applications in the e-commerce, enterprise, and fintech sectors.

This development unfolds against the backdrop of MicroStrategy reporting a net loss of $53.1 million for the first quarter on April 30. However, this report, based on traditional accounting methods, did not account for the substantial 65% increase in the market value of MicroStrategy’s 214,400 Bitcoin—valued at $15.2 billion at the time—during the quarter.

MicroStrategy Introduces MicroStrategy Orange: A Decentralized Identity Solution Built on Bitcoin Blockchain

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