Cardano Founder Charles Hoskinson Pitches Midnight as a Privacy Layer for Bitcoin and XRP

Cardano founder Charles Hoskinson is promoting his new venture, Midnight Protocol, not just as a sidechain for Cardano, but as a shared infrastructure layer offering programmable privacy to rival blockchains, specifically mentioning Bitcoin and the XRP Ledger. Hoskinson argued that integrating Midnight with XRP DeFi could challenge legacy banking systems privately and compliantly, while adding it to Bitcoin would deliver the private capabilities Satoshi envisioned. He also claimed Midnight would significantly boost Cardano's DeFi ecosystem, potentially increasing Monthly Active Users (MAUs) and Total Value Locked (TVL) by being first to market with private DeFi at scale. Furthermore, Hoskinson sees Midnight's privacy design as crucial for the estimated $10 trillion Real-World Assets tokenization market, criticizing permissioned solutions like the Canton Network as inadequate. This strategy marks a shift for Hoskinson, aiming to leverage Midnight to access liquidity beyond Cardano, coinciding with growing speculative interest in Midnight's native token, NIGHT, despite its recent high volatility.

(Source：BeInCrypto)