HomeCrypto NewsMarketCardano Founder Calls This New Midnight-Affiliated Explorer The Bedrock of Cooperative Economics

Cardano Founder Calls This New Midnight-Affiliated Explorer The Bedrock of Cooperative Economics

Date:

Written By:

Follow TheCryptoBasic

Cardano founder Charles Hoskinson has reacted to a recent development that would enhance the multi-chain functionality of the Midnight Network.

Midnight, a privacy-focused Cardano sidechain, is imminent, and the crypto community remains expectant. Paima Studios, one of the partners of the Midnight Network, recently announced an ongoing project to build a hybrid DApp feature for Midnight, drawing accolades from Charles Hoskinson, the founder of Cardano.

Hybrid dApps Coming to Midnight

Sebastien Guillemot, the co-founder of Paima Studios, disclosed that his team is working on bringing hybrid decentralized applications (dApps) to Midnight. According to the June 29 tweet, this feature will enable applications with multi-chain functionalities.

- Advertisement -

Meanwhile, Guillemot shared a prototype of the Paima Explorer, featuring the different chains a developer’s dapp connects to, the primitive data dashboard, and the state machine table. The Paima Studio co-founder emphasized that the state machine column enables developers to visualize how smart contracts update based on data across multiple chains.

Prototype of the Paima Explorer

Recall that it was on this basis that Midnight forged a collaboration with Paima Studio. The Web3 gaming studio partnered with Midnight to bring Ethereum Virtual Machine (EVM) compatibility to the Cardano sidechain. 

For context, this feature will enable Ethereum developers to deploy dapps on Midnight with just a few lines of code. Furthermore, Paima Studios would also explore the application of zero-knowledge technology (ZK) in Web3 gaming.

Hoskinson Applauds New Explorer

As usual, Hoskinson cheered the development, calling it a “bedrock of cooperative economics.” He argued that the multi-chain explorer is one of the most essential workstreams in the crypto industry, alongside Midnight’s dual token model and the capacity exchange.

The founder’s comment echoes his new belief that crypto projects should collaborate more for the greater good of the industry, shifting from the current zero-sum game. It is with this narrative that he has linked up with Ripple executives for a potential partnership and is also pushing for Bitcoin DeFi on the Cardano blockchain.

Meanwhile, Midnight is already enforcing unity among different projects with its multichain airdrop. Eligible XRP, Bitcoin, Solana, and BNB holders would receive Midnight’s native NIGHT token in the Glacier drop, expected to happen in July

DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Elendu Benedict
Elendu Benedict
Elendu Benedict is a refined cryptocurrency writer with over two years of experience in the field. With a thorough understanding of blockchain technology, cryptocurrencies, and market trends, as well as proficiency with ETFs, DeFi, and Web3, he specializes in writing engaging and educational articles on a variety of crypto-related subjects.

More from Author

Latest Stories

Ethereum Price Analysis: Will ETH Start ‘Eating’ With Next Resistance at $3,060?

Ethereum shows potential for reversal with mixed momentum indicators and tokenization dominance signaling strength. Ethereum (ETH) has seen a modest 1.1% increase in the past...

Shiba Inu Analysis for Jan 22: Where Next as SHIB Tests Bollinger Band Support?

Shiba Inu is testing the middle Bollinger Band support, with a recovery in open interest, signaling potential bullish momentum if the price holds. The Shiba...

Cathie Wood: Bitcoin Is “Pretty Well Through” the Down Cycle

Bitcoin may be nearing a turning point after months of choppy and uneven price action. According to Ark Invest CEO Cathie Wood, the world’s largest...

VanEck Base Case Sees Bitcoin Hitting $3M by 2050

Asset manager VanEck has released a long-term outlook projecting that Bitcoin could reach a price of $3 million by 2050. Notably, VanEck’s projection is grounded...

Ethereum Price Analysis: Will ETH Start ‘Eating’ With Next Resistance at $3,060?

Ethereum shows potential for reversal with mixed momentum indicators and tokenization dominance signaling strength. Ethereum (ETH) has seen a modest 1.1% increase in the past...

Ethereum Analysis for Jan 20: ETH Must Reclaim the $3,200 Level as Analyst Says $4K Next

Ethereum must reclaim key resistance levels to stabilize and avoid further downside, with analysts expecting a potential surge toward higher targets. Notably, Ethereum (ETH) is...

XRP ‘Looks Good’ for a $4 Price Run: Details

XRP is showing early signs of strength after months of sideways movement, with traders pointing to a familiar price structure that previously led to...

Four Chart Overlays Show XRP Historically Rallies from the Current Levels

Four chart overlays originating from XRP price movements in past cycles indicate that the price often rallies from levels such as the current one. While...

Can Buying Shiba Inu Today Deliver Profits by December 2026?

Amid the broader crypto market downturn, investors are evaluating whether buying Shiba Inu today could deliver profits by year-end 2026. Despite SHIB’s drop to 25th...

Shiba Inu Analysis for Jan 22: Where Next as SHIB Tests Bollinger Band Support?

Shiba Inu is testing the middle Bollinger Band support, with a recovery in open interest, signaling potential bullish momentum if the price holds. The Shiba...

Dogecoin Prediction for Jan 21: Can DOGE Hold Above Key Fib Support to Test $0.129?

Dogecoin shows potential for a bullish shift after breaking key resistance, but it needs to maintain support to avoid further downside risks. Dogecoin (DOGE) has...

Dogecoin Prediction for Jan 16: Resistance Holds But Analyst Eyes Massive Surge to $9

Dogecoin faces resistance, but analysts predict a potential surge if key indicators align. Dogecoin (DOGE) changes hands at $0.14 during this press, a 2.6% decline...

Guides