Re: Storing data on the bitcoin blockchain

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For example Microsoft recently announced they are building their new decentralized identity system on top of Bitcoin, meaning they will be putting data on the blockchain. What data? I don't know, maybe it's only hashes, but they are putting data on the blockchain. That's a fact.

Odds are they are not building on the BTC blockchain but rather their own blockchain.

He is probably talking about ION
https://github.com/decentralized-identity/ion
It's a second layer solution on top of BTC blockchain

here is the official MS blog post on it.

It's built on Bitcoin core and IPFS and MongoDB. I think Bitcoin is mainly used as a timestamping mechanism, but there you go... the BTC chain being used to store data by one of the largest tech companies in the world.

Then Peter Todd's OpenTimestamps is for you, https://opentimestamps.org/#how-it-works

Thank Bitcoin's POW/high hashing power for making it very possible.