Cardano founder Charles Hoskinson continues to emphasize the importance of Midnight’s focus on privacy in the blockchain space.
he recently shared podcast Thanks to Midnight, previous skepticism about trading securities on-chain has been resolved.
“For the first time, you can actually trade securities natively on the blockchain.” He stated that Midnight’s Creation is what makes this possible, stating:
Privacy issues and the role of Cardano sidechain Midnight
hoskinson We emphasized that certain requirements must be met in order to trade securities natively on the blockchain. He cited privacy, selective disclosure, and the ability to handle public and private information simultaneously as key elements.
While institutional adoption of blockchain technology grows, bringing securities on-chain for native trading continues to face significant obstacles. One major drawback is that public blockchains provide full disclosure, revealing certain details of transactions, such as sender and recipient addresses.
This is particularly different from what is seen in traditional markets, where exchanges retain certain user data for confidentiality and user protection.
However, Hoskinson pointed out that this flaw in the blockchain space has prompted the creation of projects like Midnight. For beginners, cardano The sidechain employs zero-knowledge proofs (ZKP) to protect user privacy.
Midnight allows for selective disclosure for regulatory compliance and reasonable privacy. According to the Cardano founder, this now encourages investors to trade traditional securities without the need for a third party, as long as the jurisdiction accepts algorithmic methods.
Notably, Midnight’s use case extends beyond encouraging on-chain native securities trading. Recently postHoskinson brought Midnight’s need to the fore as hackers stole and then extorted the data of adult content site PornHub’s premium members.
Topics in the midnight sustain market
On the other hand, the buzz surrounding the NIGHT token has not subsided, and it continues to outperform major cryptocurrencies. Data from CoinMarketCap shows a 22% increase over the past seven days, making it the largest among the top 100 crypto market capitalization rankings.
Additionally, its trading volume continues to be impressive. It currently ranks as the 10th largest cryptocurrency in terms of 24-hour trading volume with $1.56 billion.
NIGHT is also dominating the Cardano ecosystem despite being released recently. hoskinson previously highlighted The fully diluted volume (FDV) of the asset is greater than all other Cardano native tokens combined.
