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MicroStrategy to launch Bitcoin-based decentralized ID solution

MicroStrategy has already built an application on “MicroStrategy Orange” — Orange For Outlook — which integrates digital signatures into emails to verify the identity of the sender.

MicroStrategy, the largest corporate holder of Bitcoin (BTC), has announced it will launch a decentralized identity solution on the Bitcoin network that uses Ordinal-based inscriptions to store and retrieve information.

The solution, MicroStrategy Orange, was unveiled by executive chairman Michael Saylor during the company’s Bitcoin For Corporations conference on May 1.

MicroStrategy Orange is open-source, not dependent on sidechains and can process up to 10,000 decentralized identifiers in a single Bitcoin transaction, Saylor claimed.

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ICP’s Schnorr integration ushers in Bitcoin DeFi era

Internet Computer Protocol smart contracts will soon be able to etch Runes, trade BRC-20 tokens and enable Bitcoin-based DeFi functionality.

The Internet Computer Protocol (ICP) plans to use advanced threshold cryptography to unlock decentralized finance capabilities and smart contract functionality on Bitcoin’s base layer.

Speaking to Cointelegraph during Paris Blockchain Week, Dfinity senior research scientist Aisling Connolly outlined how ICP’s integration of threshold-Schnorr signatures will enable the protocol’s smart contracts to obtain addresses and authorize transactions directly to the Bitcoin blockchain.

Schnorr signatures are a specific type of digital signature named after mathematician Claus Schnorr. They work like a secret handshake between two parties, proving that one person has signed off on something without revealing their secret code.

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