MicroStrategy, often known as the biggest company holder of bitcoin, has introduced its intention to develop a decentralized id service using Ordinals inscriptions.
Earlier this 12 months, the software program consulting agency rebranded itself as a “bitcoin growth firm,” emphasizing its dedication to advancing the Bitcoin community by means of varied means reminiscent of monetary markets, advocacy, and innovation. The disclosing of “MicroStrategy Orange” signifies the corporate’s dedication to realizing this goal.
MicroStrategy Orange goals to supply decentralized identities which are “trustless, tamper-proof, and long-lived,” in line with founder Michael Saylor. The service will allow customers to concern decentralized identifiers (DIDs), making certain pseudonymity much like bitcoin transactions, which aren’t instantly linked to real-world identities.
Leveraging Bitcoin’s Ordinals Protocol, MicroStrategy Orange allows the storage and communication of knowledge on particular person satoshis, the smallest unit of bitcoin.
MicroStrategy has already developed an utility known as “Orange For Outlook” utilizing its decentralized id service. This utility integrates digital signatures into emails, permitting recipients to confirm the id of the sender securely.
At present, MicroStrategy holds a considerable quantity of bitcoin, totaling 214,400 BTC, which quantities to roughly $10 billion. This constitutes greater than 1% of the overall bitcoin provide that may ever exist.
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