MicroStrategy to Launch a Decentralized Identity Protocol
MicroStrategy has announced plans to introduce a decentralized identity protocol based on Bitcoin.
The solution, known as MicroStrategy Orange, utilizes the unspent transaction output (UTXO) of the Bitcoin blockchain to store and access personal information.
The company, headquartered in Virginia, aims to offer decentralized identity services at a lower cost and with reduced energy consumption compared to traditional methods.
However, the exact launch date for this project is not yet known. Despite reaching out to MicroStrategy for comment, no response was received from the company outside of their regular business hours.
By utilizing UTXO-based transactions, MicroStrategy’s decentralized identity protocol aims to provide heightened security measures to protect against identity theft and tampering of personal information.
