- The IOG is setting the stage to launch its Midnight Network.
- This network is a privacy-friendly sidechain that uses zero-knowledge proofs (ZKPs).
- Charles Hoskinson, CEO of Cardano and IOG talks about connecting identity with privacy.
Input Output Global (IOG) is putting Cardano (ADA) further in the spotlight with the upcoming devnet launch of Midnight. The Midnight Network is a privacy-friendly sidechain that uses zero-knowledge proofs (ZKPs).
Read CRYPTONEWSLAND on
google news
A cryptic introduction via X-Page unfolds a new chapter for developers and users that aims to strengthen privacy and optimize data protection in blockchain interactions and the creation of decentralized applications (DApps).
From the post above, we see how CEO of IOG, Charles Hoskinson explains how one can link identity to privacy in the right way. He talks about how blockchain development, privacy and innovative functionality often stand as two pillars, occasionally at odds with each other, but fundamentally inseparable.
So, Cardano, under the clever development of Input Output Global (IOG), introduces the Midnight Network, a ZK-based privacy sidechain that seamlessly connects these two pillars, forging a path rarely taken.
Midnight is shrouded in mystery as there is little explicit information about its technical architecture and potential opportunities for blockchain engineers. What shines through the silence, however, is a commitment to improving privacy through the use of zero-knowledge proofs (ZKPs), a technology that confirms the accuracy of information without disclosing the data itself.
IOG elegantly staged the unveiling of the Midnight Network by inaugurating its X account along with an official website in the third quarter of 2023. These platforms not only serve as information portals, but they also act as channels for lively communication between potential users and developers intrigued by the prospect of building on them.
As Midnight’s clock inches closer to the Devnet phase, working methodically for almost a year, there is an expectant silence in the decentralized world. Developers and Cardano enthusiasts are being urged to embrace the new protocol.
Additionally, Midnight is positioning itself as a potentially revolutionary player in the space of tokenized digital assets, including NFTs, where users can interact, transact and engage without losing their anonymity.
Read Also
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
