MicroStrategy (MSTR), the largest corporate holder of bitcoin, unveiled plans to develop a decentralized identity service using Ordinals inscriptions.
The software consulting firm began pitching itself as a “bitcoin development company” earlier this year, saying it would work on development of the Bitcoin network through financial markets, advocacy and innovation. “MicroStrategy Orange,” as it has been called, is a sign the company is putting this aim into practice.
The goal of MicroStrategy Orange is to provide “trustless, tamper-proof and long-lived” decentralized identities using the Bitcoin blockchain, founder Michael Saylor said at the company’s Bitcoin For Corporations conference on Wednesday.
The service allows users to issue decentralized identifiers (DIDs), which enable pseudonymity. Just as bitcoin transactions are not linked to real-world identities, neither will DIDs.
Orange harnesses Bitcoin’s Ordinals Protocol, which allows for information to be stored and communicated on individual satoshis (the smallest increment of bitcoin (BTC), equal to 1/100,000,000th of a BTC).
MicroStrategy has already built one application using its service called “Orange For Outlook,” which integrates digital signatures into emails to enable recipients to verify the identity of the sender.
MicroStrategy holds 214,400 BTC ($10 billion), which is more than 1% of the all the bitcoin will ever exist.
Elon Musk's artificial intelligence company xAI has filed a federal lawsuit challenging Minnesota's landmark law banning AI-powered "nudification" technology, arguing…
Bitcoin climbed toward $65,000 as an unusual shift in traditional financial markets created one of the rarest conditions…
Hyperscale Data has sold 100 Bitcoin to accelerate development of its planned artificial intelligence campus in Michigan, sending shares…
A newly launched memecoin called PIPEDOG ($PIPEDOG) became the latest breakout token on Robinhood Chain, surging more than 140x within…
BNY, the world's largest custodian bank, is bringing one of its core financial businesses onto…
A bipartisan group of U.S. senators has reportedly reached a new compromise on the ethics provisions of…