Charles Hoskinson asks the Cardano community to enlighten Srinivasan about Midnight features.
Following last month’s unveiling of Cardano’s upcoming privacy-focused blockchain, Cardano founder Charles Hoskinson traveled back in time to react to a September tweet by American entrepreneur and investor Balaji S. Srinivasan.
In September, Srinivasan noted that Ethereum and Zcash implemented two of Bitcoin’s significant innovations – programmability and privacy.
Srinivasan stated that while Ethereum focuses on the programmability aspect of Bitcoin, Zcash focuses on the privacy feature.
“The two major innovations on Bitcoin were in the direction of programmability (Ethereum) and privacy (Zcash),” he said.
Srinivasan, a former CTO at Coinbase, said “Zethereum” is the ideal blockchain that can unify Bitcoin’s two significant innovations – programmability and privacy – at the base layer. He added that “Zethereum” might become a new Layer-1 protocol in the cryptocurrency ecosystem.
Hoskinson Reacts to Srinivasan’s Tweet
Since Srinivasan tweeted, many cryptocurrency proponents have taken the opportunity to name some crypto projects with similar features. Interestingly, Cardano’s founder also reacted to the post. However, it took Hoskinson three months to respond to Srinivasan’s tweet. Hoskinson indirectly implies that the Cardano privacy blockchain has both features of programmability and privacy.
Someone tell this man about Midnight https://t.co/PDbn4puteP
— Charles Hoskinson (@IOHK_Charles) December 14, 2022
Midnight is a new privacy-focused blockchain that Cardano’s development team plans to launch soon. Hoskinson unveiled the project during last month’s Cardano IO ScotFest: The Age of Voltaire event.
The upcoming Cardano sidechain will be underpinned by zero-knowledge-proof technology. It is worth noting that Midnight will have its token, named Dust. According to Hoskinson, Midnight will supersede the functionality of existing privacy-coin projects, including Zcash and Monero, by delivering zero-knowledge-proof smart contracts.
“Midnight has evolved privacy-coin technology where everything was anonymous by default, which is what Zcash and Monero did with Snarks and ring signatures,” Hoskinson said in a recent interview.
He added that Midnight would offer a new way for developers to write and run private smart contracts and computation. The upcoming Cardano sidechain will grant regulators access while preserving users’ privacy.
Per a statement on the official Midnight website, the team said:
“Midnight will enable developers to quickly build and deploy data protection-first dApps using many programming languages, starting with Typescript, while companies will be able to share mission-critical information without the fear of leaks or censorship.”
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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