Cardano's ecological privacy public chain Midnight officially launched

According to CoinDesk, the Cardano ecosystem privacy public chain Midnight officially launched on Monday. The project is supported by approximately $200 million in funding from Cardano founder Charles Hoskinson, aiming to address what it sees as core design flaws in the cryptocurrency industry.

Midnight is built on the Cardano ecosystem, positioning itself not to compete with Bitcoin or Ethereum, but to operate as a complementary network in parallel, allowing users and businesses to use blockchain more securely and conveniently by hiding sensitive data and reducing operational complexity.

Hoskinson summarized the three core issues of the cryptocurrency industry as: insufficient privacy, operational complexity, and lack of compliance. In Midnight's design, users do not need to manage private keys themselves, transactions do not automatically expose balances or on-chain behavior, and in some scenarios, users may not even need to be aware of the underlying blockchain's existence.