A Bitcoin community KOL named “Dylan LeClair” posted on Wednesday (1st) that the US listed company MicroStrategy, holding a large amount of Bitcoin, plans to launch a decentralized identity protocol based on Bitcoin.
LeClair learned about this news from a live business demonstration, and he also mentioned that the solution, named “MicroStrategy Orange,” intends to utilize unspent transaction outputs (UTXO) on the Bitcoin blockchain to store and call users’ personal information. The goal of this protocol is to provide decentralized ID services at lower costs while minimizing the energy consumption of block production.
It is currently unclear when MicroStrategy will launch this project. MicroStrategy did not immediately respond to a request for comment from The Block.