The solution, MicroStrategy Orange, was introduced by Michael Saylor.
Users may deploy apps and issue DIDs using Orange Service, and customize experience.
Using Ordinal-based inscriptions to store and retrieve information, MicroStrategy—the biggest corporate holder of Bitcoin—will create a decentralized identification solution on the Bitcoin network.
Similar to how actual people’s identities are not associated with Bitcoin addresses or transactions, decentralized identifiers (DIDs) will provide anonymity.
Open-source and Not Reliant on Sidechains
Moreover, the Orange Service, Orange SDK, and Orange Applications are all parts of MicroStrategy Orange. Also, users may deploy apps and issue DIDs using Orange Service, and customize their experience by using Orange SDK and Orange Applications to integrate particular services on desktop and mobile devices.
The solution, MicroStrategy Orange, was introduced by Michael Saylor, executive chairman of MicroStrategy, at the Bitcoin For Corporations conference on May 1. A single Bitcoin (BTC) transaction can handle up to 10,000 decentralized identifiers, according to Saylor, and MicroStrategy Orange is open-source and not reliant on sidechains.
“Orange For Outlook,” an existing product by MicroStrategy, incorporates digital signatures into emails so that recipients may confirm the sender’s identity. After a user accepts an invitation email signed by MicroStrategy’s DID, the system will create a unique DID, together with a public and private key pair, for the user as part of the onboarding process.
Furthermore, after a user has their DID and public key recorded on the Bitcoin network, they may invite their employees to do the same. The company is hoping that additional messaging platforms, social media networks, and e-commerce, corporate, and finance apps can integrate with MicroStrategy Orange.
This follows MicroStrategy’s announcement on April 30 of a first-quarter net loss of $53.1 million. Nevertheless, the conventional accounting system failed to take into consideration the 65% quarterly gain in market value of MicroStrategy’s 214,400 Bitcoin, which was worth $15.2 billion at the time.
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