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MicroStrategy, the world’s largest corporate Bitcoin holder, has unveiled MicroStrategy Orange, a decentralized identity protocol built on the Bitcoin blockchain.
Announced at the Bitcoin for Conference by the company’s CEO Michael Saylor on Wednesday, the platform aims to provide secure, tamper-proof digital identities without relying on additional blockchain layers, processing thousands of identifiers within a single Bitcoin transaction.
MicroStrategy Orange capitalizes on the security features of the Bitcoin network, specifically using Ordinal-based inscriptions to store and manage DIDs.
This approach offers a new level of security for enterprise systems.
The company has already developed an application for email authentication and is looking to extend its technology to other platforms and industries.
The protocol’s introduction at MicroStrategy’s conference in Las Vegas highlights the company’s commitment to leveraging Bitcoin’s capabilities beyond traditional financial uses.
By utilizing a modified approach to inscriptions and Bitcoin’s SegWit feature, MicroStrategy Orange facilitates the creation and updating of documents with fewer size and content limitations.