Michael Saylor is a Bitcoin Builder
Saylor launches MicroStrategy Orange: an enterprise platform for building identity applications on Bitcoin
Hi Bitcoin Builders,
The Bitcoin Halving is behind us. But builders aren’t slowing down. Thanks for reading BBA’s weekly newsletter!
Michael Saylor, Executive Chairman of MicroStrategy, is officially building on Bitcoin.
MicroStrategy unveiled MicroStrategy Orange, an enterprise platform for building decentralized identity applications on the Bitcoin blockchain, at the MicroStrategy World: Bitcoin for Corporations 2024 event.
The platform aims to integrate Bitcoin-based digital identity with the broader verifiable credential ecosystem. It enables users to anchor their identity on the Bitcoin blockchain and present credentials like university degrees, certifications, and medical records in a decentralized manner.
Bitcoin Layers
Coinbase is rolling out support for the Lightning Network via Lightspark. Tens of millions just got access to fast, low-cost BTC transfers via Lightning.
BOB (Building on Bitcoin) goes live on mainnet. The platform is already seeing traction with $300M in TVL.
Researchers from Rootstock Labs and FairGate Labs unveiled the BitVMX whitepaper at the btcplusplus event in Austin. Read the whitepaper.
Forbes calls Stacks a Zombie chain, but the data says otherwise. Stacks hit a record high in active users as interest in Bitcoin DeFi grows.
Alpen Labs introduces SNARKnado. Read the release.
SNARKnado is a protocol that allows complex computations (like SNARKs) on the Bitcoin blockchain to be verified more efficiently.
It does this by replacing the computational model used in previous approaches like BitVM with one based on evaluating polynomials, which aligns better with how SNARKs work internally.
This polynomial approach allows SNARKnado to dramatically reduce the number of back-and-forth rounds needed for verification, lowering the overall time and cost.
Meta Protocols and Layer 1
Runes transactions fees are down.
However, Runes transaction volume remains steady.
Other
Block announced it will buy Bitcoin monthly to put on its corporate balance sheet. Read their “Bitcoin Blueprint For Corporate Balance Sheets” announcement.