Cardano’s Charles Hoskinson unveils privacy-preserving Midnight partner chain
Charles Hoskinson launched Midnight, a new blockchain focused on privacy for real-world asset tokenization, backed by $200 million of his own investment.Summary
Cardano founder Charles Hoskinson has unveiled Midnight, a new “fourth generation” blockchain developed by Input Output Global (IOG) designed to bring real-world assets onchain with end-to-end privacy. Midnight utilizes zero-knowledge proofs to selectively reveal or hide data, and features a hybrid ledger capable of handling both public and private transactions. A unique dual-token model introduces NIGHT, a governance and utility token, and DUST, a renewable gas token recharged proportionally to NIGHT holdings. The network launched with a federated validator model including major players like Worldpay and Google Cloud. Midnight is designed to be interoperable with Cardano, allowing for asset movement and the potential for Cardano apps to utilize Midnight’s privacy features. Hoskinson aims for Midnight to foster a DeFi and Real World Asset (RWA) ecosystem, citing the limitations of Cardano in these areas, and Monument Bank plans to tokenize £250 million in retail deposits on the network.
(Source：The Block)