MicroStrategy, renowned as the leading corporate holder of Bitcoin, has introduced a groundbreaking decentralized identity solution named "MicroStrategy Orange" on the Bitcoin network, leveraging Ordinal-based inscriptions for data storage and retrieval.

The revelation came during MicroStrategy's Bitcoin For Corporations conference on May 1, with executive chairman Michael Saylor unveiling the innovative solution.

MicroStrategy Orange is designed as an open-source platform that operates independently of sidechains, boasting the capability to process up to 10,000 decentralized identifiers (DIDs) in a single Bitcoin transaction, as disclosed by Saylor.

The primary objective of MicroStrategy Orange is to deliver trustless, tamper-proof, and enduring decentralized identities, solely utilizing the public Bitcoin blockchain as a data source, as outlined in an unofficial draft document shared by MicroStrategy on GitHub.

DIDs ensure pseudonymity, akin to real-world identities not being directly linked to Bitcoin addresses and transactions. The MicroStrategy Orange ecosystem comprises three key components: Orange Service, Orange SDK, and Orange Applications.

With Orange Service, users can issue DIDs to their personnel and deploy various applications, while Orange SDK and Orange Applications offer customization tools for seamless integration across mobile and desktop platforms.

One notable application developed by MicroStrategy, dubbed "Orange For Outlook," integrates digital signatures into emails, enabling recipients to authenticate the true identity of the sender.

The onboarding process entails accepting an invitation email signed by MicroStrategy's DID, which generates a unique DID along with a public and private key pair for the user. These credentials are then inscribed on the Bitcoin network, enabling users to initiate the creation of their digital identity.

MicroStrategy envisions extending the reach of MicroStrategy Orange applications to encompass other messaging platforms, social media networks, as well as applications in the e-commerce, enterprise, and fintech sectors.

The unveiling of MicroStrategy Orange coincides with the company's recent financial report, which revealed a net loss of $53.1 million for the first quarter. Notably, the traditional accounting method employed did not account for the impressive 65% surge in the market value of MicroStrategy's Bitcoin holdings, totaling 214,400 BTC valued at $15.2 billion during the quarter.