Cardano’s Midnight Gains Recognition From Ripple CTO as NIGHT Surges
- Ripple CTO David Schwartz’s public recognition underscores Midnight’s growing importance in the crypto ecosystem.
- Recognition comes as NIGHT ranks among CoinMarketCap’s top gainers, highlighting its rising prominence on the crypto market.
Ripple CTO David Schwartz acknowledged Cardano’s Midnight, which gained notice from the crypto market. The acknowledgment came roughly two weeks after Cardano founder Charles Hoskinson officially unveiled Midnight, a privacy-focused blockchain built on ideas similar to XRP’s core ideology of efficiency, regulatory compliance, and interoperability.
In brief, the Cardano Midnight (NIGHT) project is all about providing a safe and private space to create smart contracts while staying within the rules. Which potentially seeks to unlock new possibilities to use sensitive information on the blockchain.
Since its launch, Midnight has drawn notable interest. NIGHT is currently trading around $0.09075, reflecting a 7.62% increase, as per CMC data, with a market capitalization of approximately $1.5 billion. Additionally, NIGHT ranked among CoinMarketCap’s top five gainers at the time of writing, highlighting growing relevance just weeks after its debut.
Hoskinson Highlights XRP Integration Potential
Charles Hoskinson, the founder of Cardano, stressed in a post on X on December 27 that Midnight’s zero-knowledge proof architecture could greatly enhance the XRP Ledger rather than rival it.
While XRP provides transparent public ledgers for rapid and efficient transactions, Midnight offers an alternative that aims to strike a balance between privacy and regulatory compliance.
He further said that by combining Midnight with XRP, the network will have compliant, privacy-preserving DeFi capabilities, establishing XRP as a legitimate rival to established banking infrastructure. However, he also mentioned possible advantages for Cardano and Bitcoin.
Then, the recent comments from Galaxy Digital CEO Mike Novogratz, who has warned that XRP and ADA’s long-term relevance depends on proving real-world utility. By that time, the rise of Midnight challenges the context, as it addresses a specific need for privacy while being business-oriented.
With this, David Schwartz’s brief acknowledgment of Midnight got more attention. As it involves only a small recognition, it didn’t confirm any partnership with Midnight. But that shows the Midnight project’s importance and its focus on cross-ecosystem talks.
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