Charles Hoskinson presents Midnight Protocol as a cross-chain privacy layer expanding Cardano’s reach and driving new blockchain adoption.
Charles Hoskinson has unveiled Midnight Protocol as a major evolution beyond Cardano. He referred to it as a common privacy layer. The platform is designed to support multiple blockchains. Significantly it focuses on Bitcoin and the XRP Ledger. Consequently, the announcement attracted a huge market attention.
Hoskinson Positions Midnight as Shared Privacy Infrastructure
Hoskinson described that Midnight is not a Cardano sidechain. Rather, it acts as a cross-chain privacy layer. The protocol is based on the use of zero-knowledge proofs. Therefore, it allows compliant privacy on different networks. In a December 27 post on X, he emphasized the importance of collaboration over competition.
According to Hoskinson, Midnight can be a way to boost rival ecosystems. He noted that it enhances what exists in blockchain. Instead of replacing networks, it complements them. This strategy differs from the traditional platform competition. As a consequence, Midnight could be used as neutral infrastructure.
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Hoskinson said Midnight supports Bitcoin’s initial vision. He said it permits private functionality at scale. Moreover, he said adding Midnight at XRP DeFi could break legacy banks. Such statements made Midnight a transformative technology.
Meanwhile, Cardano remains at the center of the strategy. Hoskinson emphasized that Midnight would give a boost to Cardano’s DeFi ecosystem. He foresaw great growth in number of users and activities. Therefore, Midnight is also a catalyst for Cardano growth.
Market interest followed soon after. The NIGHT token flew off the charts. CoinGecko data revealed NIGHT leading in the trending list. It offbeat Bitcoin, Ethereum and Solana. Consequently, retail speculation increased in spite of recent price declines.
Midnight’s Impact on Cardano and Market Momentum
Hoskinson correlated Midnight with the growth metrics of Cardan directly. He said the protocol would be able to increase monthly active users. Further, he predicted increased transaction volumes. Total value locked could also increase drastically. These projections are based on the private adoption of DeFi.
He said Cardon would be the first to market with private DeFi at scale. This positioning may be attractive to institutional participants. Privacy-oriented compliance tools are still in demand. Therefore, Midnight can potentially open new use cases for real-world assets.
Source: XFurthermore, Hoskinson presented Midnight as 4th-generation blockchain infrastructure. He underlined interoperability and privacy simultaneously. This combination distinguishes Midnight from previous solutions. As a result, the protocol attracted attention in ecosystems.
Despite enthusiasm, NIGHT’s price performance was volatile. After launch, the token fell drastically. However, speculative interest grew and grew. Trending status reflected attention and not valuation stability. Analysts warn against short-term volatility.
On-chain communities responded negatively to Hoskinson’s statements. Social engagement increased across the board. There were notable increases in mentions of Midnight. This visibility helped NIGHT to go head to head with major assets in trending rankings.
On the whole, Midnight is a strategic growth for Cardano. It expands the utility beyond a single chain. By targeting Bitcoin and XRP, it is targeting broader markets. Consequently, the relevance of Cardano could go across the crypto sector.
If adoption is to materialise, Midnight could alter the landscape of the privacy infrastructure. Its success requires integration and acceptance of compliance. However, Hoskinson’s vision has put Cardano at the heart of cross-chain privacy innovation.
Source: https://www.livebitcoinnews.com/cardano-founder-pitches-midnight-as-cross-chain-privacy-layer/
