Cardano founder Charles Hoskinson has launched Midnight, a privacy-focused blockchain designed to address crypto’s usability, security and data exposure challenges.
The network introduces a hybrid model with “selective disclosure,” allowing users and businesses to verify information without revealing sensitive data, aiming to make blockchain applications more user-friendly.
“The last mile is simplicity, privacy and rules,”
Hoskinson said, adding that crypto must evolve to function like everyday apps to achieve mainstream adoption.
Midnight is backed by roughly $200 million in personal funding and was distributed via a large-scale airdrop to 37 million wallets, quickly reaching a valuation near $1 billion.
The platform uses a dual-token system, separating governance and speculation through NIGHT tokens from transaction fees handled by DUST, helping stabilise costs for users and developers.
Early use cases include confidential financial systems, identity verification and enterprise data workflows, with institutions already exploring tokenisation on the network.
The launch reflects a broader industry push to solve privacy and usability barriers, positioning Midnight as a potential bridge between blockchain technology and real-world applications.
At the time of reporting, Cardano price was $0.2479.