Cardano (ADA) founder Charles Hoskinson reveals insights into Midnight, a data protection-based sidechain designed to address the longstanding challenge of privacy within the blockchain ecosystem. The primary objective of Midnight is to seamlessly integrate the public and private aspects of blockchain while incorporating smart contracts.
Bridging Public and Private Spheres
Midnight is designed to bridge public blockchains and private data, allowing smart contracts and decentralized applications to utilize confidential user information without exposing it on-chain. According to Hoskinson, Midnight brings together the private side of things and the public side of things.
IOG, Cardano’s parent company, states that Midnight gives users control over what personal data they share while keeping other information entirely offline. This represents a new era for online interaction, Hoskinson asserted.
Enabling Commerce, Expression, and Association
In October 2022, Hoskinson introduced the Midnight Protocol to achieve Cardano’s vision for Commerce, Freedom of Expression, and Freedom of Association (ACE). Midnight aims to facilitate private yet lawful commercial transactions, self-expression, and user association control.
Additionally, Hoskinson noted that Midnight could provide confidentiality and privacy capabilities to other blockchains. He stated that Midnight can be sold as a service to external ecosystems. From their perspective, Midnight operates like a layer 2 solution settling on Cardano(ADA). This transaction may drive further adoption across blockchains.
Core Benefits for Users
Earlier, Hoskinson outlined important user-focused advantages of the Midnight protocol. These include providing internet users control over their personal information, enabling private communication channels, supporting anonymized transactions, and powering censorship-resistant social media.
Midnight represents a concentrated effort to fuse blockchain’s natural transparency with robust data privacy. The sidechain may resolve a central tension for decentralized networks aiming for mass adoption of the ability to keep user data private amid public environments. As Midnight development progresses in 2023, its capabilities and applications will come into clearer focus across the Cardano (ADA) ecosystem and beyond.
Tether’s Reaction Fuels Doubts on Tron Support Post Circle’s Decision
European Investors Eye Crypto ETFs Amid
Shibarium Hits New Milestones in Transactions and Wallets
You have not selected any currencies to display