MicroStrategy, the largest corporate holder of Bitcoin, has made entry into the world of decentralized identity with the launch of its new system, “MicroStrategy Orange.” Michael Saylor announced the launch at the just concluded “Bitcoin For Corporations” conference.
Leveraging Bitcoin’s Security for Digital Identity
The system seeks to redefine digital identity by leveraging the Bitcoin network’s robust security and decentralized nature. The MicroStrategy Orange utilizes a modified version of the Ordinals inscription method, embedding data within the Bitcoin blockchain’s transaction outputs.
This is distinct from traditional blockchain-based identity solutions as Orange operates directly within the Bitcoin blockchain, harnessing its inherent security and stability.Â
According to Saylor,Â
“MicroStrategy Orange aims to redefine the landscape of digital identity by harnessing the untampered security and widespread recognition of the Bitcoin network.”
Saylor highlighted that the system could handle up to 10,000 decentralized identifiers (DIDs) in one transaction. At the same time, an unofficial draft of the MicroStrategy Orange system on GitHub shows it follows the W3C’s Decentralized Identifiers (DID) standard, ensuring reliable, tamper-resistant digital identities.
Core Components and Applications of MicroStrategy Orange
The technical framework of MicroStrategy Orange consists of three main components: the Orange Service, the Orange SDK, and various Orange Applications. The Orange Service acts as the platform for issuing DIDs, unique digital identifiers allowing verification of identity without disclosing personal information.
The Orange SDK equips developers with the necessary tools to seamlessly incorporate decentralized identity features into their current applications, such as bolstering email security through digital signatures or validating identities across social media platforms.
A notable application developed using the Orange SDK is “Orange for Outlook,” which integrates digital signature verification to confirm the authenticity of email senders. This demonstrates how Orange can bolster security and trust in everyday digital communications.
MicroStrategy Orange addresses vulnerabilities in traditional digital identity systems, such as fraud and identity theft by securing digital identities on the Bitcoin blockchain. The launch of Orange coincides with a challenging financial period for MicroStrategy, which reported a $53.1 million net loss for the first quarter of the year.
