MicroStrategy announces MicroStrategy Orange, a decentralized identity solution based on the Bitcoin blockchain: reactions to the proposal.
On May 1st, during the MicroStrategy World 2024 event in Las Vegas, MicroStrategy announced the development of a new open-source solution for decentralized identity management called MicroStrategy Orange. The solution is based on Bitcoin’s decentralized identity (DID) protocol, which utilizes UTXOs to control identities. Decentralized Identifiers (DIDs) are a type of unique identifiers that allow entities to be identified in a decentralized manner, without the involvement of a central authority.
The DID method of inscriptions on Bitcoin (did:btc), used by MicroStrategy Orange, leverages inscriptions embedded in the witness data field to store and retrieve information about DIDs, utilizing UTXOs for DID control.
MicroStrategy Orange provides three main components: the Orange service for organizations wanting to issue DIDs, the Orange Software Development Kit (SDK) for developers, and Orange applications such as “Orange For Outlook,” which integrates digital signatures into emails to verify the identity of the sender.
During the presentation, Michael Saylor stated:
According to Saylor, MicroStrategy Orange is capable of processing up to 10,000 DIDs in a single Bitcoin transaction. The system aims to simplify the adoption of DIDs for organizations and individuals, offering a way to manage online identities securely and pseudonymously.
The community’s reactions
The reactions to the proposal have been mixed. While proponents of the Ordinals and inscription protocol have enthusiastically welcomed the proposal, skeptics have expressed their doubts about it.
Giacomo Zucco, director of the Plan B Network project, stated:
Francis Pouliot, CEO of Bull Bitcoin, stated:
The LNP/BP Standards Association commented:
