In a presentation at the annual MicroStrategy World conference in Las Vegas, MicroStrategy co-founder and executive chairman Michael Saylor announced the open source MicroStrategy Orange Decentralized Identity protocol.
“Michael presented a very compelling case for why we need and have introduced decentralized identities,” Cezary Raczko, MicroStrategy executive vice president of engineering, told the audience. Ta. “He made an even more compelling case for why it makes sense to digitally anchor his identity on the Bitcoin blockchain, protected by the strength and security of the Bitcoin network.”
In parallel with this announcement, MicroStrategy has published an unofficial draft of the MicroStrategy Orange specification on Github.
The timing of this news was unexpected, but Thaler had previously hinted that his company was working in the identity and authentication space.he said Decryption Last year, MicroStrategy said it was well aware of Ordinals after the protocol was launched in January and was interested in exploring how it could stimulate software innovation. .
“The whole idea of writing data on the blockchain opens the door to the possibility of writing digital signatures, writing registrations, or writing hashes of documents,” Saylor said. “Currently, corporate security is weaker than Bitcoin.”
Bitcoin supporters say innovations using the world's largest cryptocurrency could introduce a whole new level of security.
“The platform consists of three basic parts,” Latsko said late Wednesday.
“At the heart of it is a hosted service cloud that allows us to issue these identifiers to users within our organization,” he explained. “You can also deploy pre-packaged, ready-to-use applications that run on the MicroStrategy Orange platform.”
Raczko said the Orange software development kit makes it easy for programmers to take advantage of these features and integrate them into their own applications and systems.
Using email as an example, Raczko said that Bitcoin-based public and private keys generated using MicroStrategy Orange are recorded using the Ordinals protocol.
According to MicroStrategy Orange documentation, the decentralized identity protocol uses a modified approach for ordinal inscriptions, but only stores data related to decentralized identities (DIDs). This means that documents can be created and updated while utilizing DID, with almost no limits on size and content. Bitcoin Separated Witness (SegWit) feature.
“Once we verify that the email is genuine, we accept the invitation, at which point a unique decentralized identifier and a public/private key pair are generated,” Laczko explained. “Send your decentralized identifier and public key to the Orange server to register on the Bitcoin blockchain. [and] From that point on, you will be able to send emails with Orange signatures. ”
“[The] The opportunity we see and want to pursue is to integrate Bitcoin-based digital identities with this larger verifiable authentication ecosystem. “This opens up another very interesting use case where you can authenticate your identity based on Bitcoin,” Latsko said.
He added that MicroStrategy Orange decentralized identifiers can also be used to authenticate users in social media applications, as well as authenticate text messages, college degrees, and medical records.
“We present them and have everything verified in a decentralized way, but the final identity resides and is fixed on the Bitcoin blockchain,” Latsko added, adding that Orange allows for authentication and validation. He hinted that it might be possible to show an “orange check” to users who have already done so. platform.
Edited by Ryan Ozawa.
