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Charles Hoskinson presents his latest project, Midnight Protocol, as more than a sidechain to Cardano.
Instead, Cardano’s founder is positioning the privacy-centric platform as a shared infrastructure layer that can extend programmable privacy to competing blockchain networks, including Bitcoin and the XRP Ledger.
Hoskinson goes beyond Cardano with a cross-chain privacy play
in Manifesto Posted on December 27 on X, Hoskinson argued that Midnight’s zero-knowledge architecture could enhance the capabilities of competing ecosystems rather than replace them.
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Join Midnight with XRP Ledger It will allow the network to challenge legacy banking systems, allowing for the complete decentralized private finance of the system. He extended the argument to Bitcoin, saying that Midnight offers programmable privacy features that Bitcoin currently lacks.
As photographed Hoskinson’s movie Midnight as a catalyst for Cardano same He suggested that the protocol can help raise the number of monthly active users and the overall value of Cardano by expanding the utility of the ecosystem beyond its original chain.
“Midnight does what it touches best. Adding Midnight to XRP DeFi will massively destroy legacy banks. Adding Midnight to Bitcoin makes a world that Satoshi imagined possible. Adding Midnight to Cardano strengthens our DeFi ecosystem and will increase MAUs, transactions and TVL tenfold as we are the first to market with private DeFi funding at scale.”
Beyond interoperability, Hoskinson pointed to the scale of opportunity in tokenizing assets in the real world. He said the $10 trillion real-world asset market would benefit greatly from Midnight’s privacy design.
In this context, he criticized traditional financing companies for continuing to associate with… Canton Network, a permissioned blockchain, under the pretext Partial solutions do not meet what institutional adoption requires.
“There are no half-and-half technologies. You need a comprehensive end-to-end strategy, great partners and great communities.” He said Hoskinson.
This strategy represents a shift for Hoskinson, who has historically focused on building within the Cardano ecosystem.
To promote the program Midnight as a layer of privacy By augmenting other single-layer blockchains, Hoskinson seeks to access liquidity and user bases outside of the existing Cardano network.
This change coincided with growing speculative interest in Midnight’s native token, NIGHT.
Data from CoinGecko showed that the asset has recently passed Bitcoin and Ethereum In the search volume on the list of popular platforms.
However, trade the symbol With high volatility Since its launch earlier this month. According to data from BeInCrypto, the price of the token has fallen by more than 80% to $0.08 at the time of writing.
