MicroStrategy Unveils Inscription-based DIDs Spec and Enterprise Platform
"Wouldn't it be great if instead of a blue check, green check, etc., there was an orange check that was a global standard? With MicroStrategy, maybe we could approach this idea of decentralized identity, with Bitcoin," Michael Saylor said in the announcement.
- 'Bitcoin Development Company' MicroStrategy announced a new platform for Bitcoin-based decentralized identity (DID) management called MicroStrategy Orange, and an accompanying open source protocol
did:btcwhich leverages inscriptions and UTXOs for DID control. - The open source
did:btcDecentralized Identifier specification aims to "deliver trustless, tamper-proof, and long-lived decentralized identities using only the public bitcoin blockchain as a data source, while enabling full compatibility with the [DID-CORE] specification and forward compatibility for future extensions."
"The Bitcoin Inscription DID method (did:btc) uses the bitcoin blockchain exclusively to store and retrieve DID information. UTXOs on chain are used to control DIDs. Inscribing data in the witness of transactions allows for greater extensibility and verbosity when creating DID documents, while reducing fees and block space consumed," explains the unofficial draft of the specification.- According to the announcement, the solution is able to onboard 'up to 10000 DIDs in a single bitcoin transaction.'
MicroStrategy Orange is the company's implementation of inscription-based Bitcoin DID's (did:btc), designed to streamline their integration into other enterprise apps and services.
"At the heart of it is a service cloud hosted that allows you to issue those identifiers to your users and your organization," said Cezary Raczko, Executive Vice President at MicroStrategy.
- The solution consists of three components: the Orange service for organizations issuing DIDs, the Orange SDK for developers, and Orange Apps for integrating verifiable digital signatures into specific applications.
The aim of the platform is to simplify the adoption of DIDs for organizations and individuals, as well as provide a way convenient to manage online identities.
"Custodial or non-custodial, the obvious thing is every Bitcoin wallet out there should incorporate the capability of creating a Bitcoin based digital identity. Many messaging platforms suffer from the same challenges that email does. When you get a text message, how do you know the person who sent you the text message...We would want to include an orange check for these different messaging platforms," added Raczko.
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You can watch the full announcement, as well as other talks from Day 1 of the Bitcoin For Corporations event below:
- MicroStrategy Orange is the second Bitcoin-based solution offered by the company. Last year the company announced the MicroStrategy Lightning platform.
Atlas21 Article / Archive
Bitcoin Magazine Article / Archive
Method Documentation Page (draft)
GitHub Repo
