MicroStrategy Launches Bitcoin-Based Decentralized Identity Protocol

May 2, 2024, 01:25 AM

MicroStrategy has announced the launch of a new decentralized identity (DID) protocol named MicroStrategy Orange, which leverages the Bitcoin blockchain. This innovative platform is designed for building decentralized identity applications, utilizing a method known as the Bitcoin Inscription DID method (did:btc). This method employs inscriptions in witness data to store and manage DIDs, while leveraging unspent transaction outputs (UTXOs) for DID control. The protocol, which is open-source, aims to facilitate the creation and management of digital identities with minimal restrictions on size and content, making it a significant advancement in the realm of blockchain-based identity solutions.