menuIcon
$ 84,923.6
BTC
$ 84,923.6
5.96 %
$ 1,943.04
ETH
$ 1,943.04
4.97 %
$ 0.7404
ADA
$ 0.7404
6.14 %
$ 589.09
BNB
$ 589.09
2.08 %
$ 134.59
SOL
$ 134.59
10.88 %
Gungun Bhatia
Nov 19, 2022
by Gungun Bhatia

IOG Introduces New Privacy Blockchain And Token "Midnight"

IOG Midnight

Table of contents

  1. Midnight to Protect Privacy
  2. Kachina Study
The company that created the Cardano blockchain, Input Output Global (IOG), is launching a brand-new network called Midnight that focuses on privacy and a token called dust to go along with it.

Midnight to Protect Privacy

IOG CEO Charles Hoskinson stated during a talk at Edinburgh University in Scotland on Friday that Midnight, supported by zero-knowledge-proof technology, is one of several side chains now being implemented around Cardano. Midnight will surpass earlier privacy-coin efforts by offering zero-knowledge-proof smart contracts.

According to Charles, the technology would balance protecting privacy with providing regulators and auditors with a gateway into the system when granted permission. In an interview, Hoskinson compared the evolution of midnight's privacy-coin concept to that of Zcash and Monero's use of Snarks and ring signatures. Hoskinson was alluding to the two other privacy currencies and their encryption techniques.

Kachina Study

According to Hoskinson, the "Kachina" study, which explores privacy-enhanced smart contracts, was released by IOG two years ago. He continued, describing how Midnight would be collaborating with Hyperledge, saying this has increased interest in the previously-hyped business sector blockchains.

Follow us on: News
token bitcoin blockchain Cardano blockchain how cryptocurrency work Input-Output Global (IOG) block chaining technology news about cryptocurrency Midnight zero-knowledge-proof technology
IOG Introduces New Privacy Blockchain And Token "Midnight"
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Top Picks