Cardano Pioneer Exposes Blockchain’s Incapacity For Secrecy

Charles Hoskinson, founder of Cardano, recently discussed Midnight in an interview. Midnight is the company’s sidechain focusing on data protection. The interview aired on the “Crypto Capital Venture” YouTube channel. Midnight, as per Hoskinson, introduces smart contracts. It incorporates public and private blockchain elements.

While blockchain technology is renowned for its decentralized structure and transparency, its primary challenge lies in its inability to maintain confidentiality,” declared Hoskinson,

They excel in revealing the truth but struggle to conceal the confidential nature of matters.

According to Charles Hoskinson, businesses possess both private and public facets, and maintaining confidentiality in the private domain is crucial. Consequently, Cardano embarked on projects six years ago to explore ways to safeguard privacy in smart contracts.

Midnight, an extension of these experimental initiatives, represents a breakthrough. Input Output Global (IOG), led by Hoskinson, describes Midnight as a “novel paradigm for online interaction,” empowering users to have control over the data they disclose while keeping the remainder secure from the internet.

Crypto Capital Venture Unveils Cardano Strategic Move

In the interview with the Cardano Founder, it was emphasized that the introduction of the Midnight sidechain was aimed at realizing the fundamental principles of the platform, which are collectively referred to as ACE—Association, Freedom of Commerce, and Freedom of Expression. In October 2023, Hoskinson shared an X post. He introduced the Midnight protocol. This envisions a system with confidentiality, privacy, and freedom to associate.

Crypto Capital Venture’s host, Dan Gambardello, utilized platform X to highlight Hoskinson’s insightful words, capturing the attention of his followers. The message conveyed:

Midnight is one of Cardano’s partner chains.Other ecosystems could purchase that capability from you as a service.and even if it lands on Cardano, it appears to be a layer 2 on their system from their point of view.

If the upward buying momentum persists, ADA’s price could potentially reach $0.65. The last instance of ADA reaching this level occurred on December 28, with the RSI reading at 64.17, as indicated in the chart below.

In a prior post about X, Hoskinson provided detailed insights into the potential advantages of the Midnight protocol. He highlighted the ways in which the upcoming Cardano project could bring about positive changes in the blockchain ecosystem, leading to a significant increase in network adoption.

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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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