MicroStrategy, renowned for its substantial corporate Bitcoin holdings, unveiled 'MicroStrategy Orange,' a decentralized identity system at the 'Bitcoin For Corporations' conference on May 1.
š¶ This innovative system utilizes a unique version of the Ordinals inscription method to embed data directly into Bitcoin's transaction outputs, distinguishing it from other identity solutions reliant on additional networks or sidechains.
š MicroStrategy Orange has the capacity to process up to 10,000 decentralized identifiers (DIDs) in a single transaction, showcasing its scalability for large-scale operations.
š An early version of MicroStrategy Orange on GitHub adheres to the World Wide Web Consortiumās (W3C) Decentralized Identifiers (DID) specifications, ensuring secure, enduring, and independent identities solely on the Bitcoin
blockchain.
š Comprising the Orange Service, Orange SDK, and various applications, the framework enables secure verification of identities without disclosing personal information, ideal for sectors like healthcare and finance.
š ļø The Orange SDK empowers developers to integrate identity verification features into existing systems, enhancing security across digital platforms, such as email verification through the 'Orange for Outlook' application.
š¼ Despite a reported $53.1 million loss for the quarter, MicroStrategy has seen a 65% increase in the value of its Bitcoin holdings, now totaling about $15.2 billion.
š This strategic shift signifies MicroStrategy's intent to leverage its Bitcoin resources for innovation beyond traditional cryptocurrency investments, potentially revolutionizing digital identity management with universally recognized verification standards.
