Cardano's Midnight testnet brings privacy to blockchain work
Cardano's Midnight sidechain has launched its testnet, offering developers a platform to create blockchain applications focused on data protection.
This initiative addresses increasing data privacy concerns while upholding transparency.
Developed by Input Output Global (IOG), Midnight aims to secure smart contracts using zero-knowledge cryptography, balancing privacy and regulatory compliance.
The testnet introduces ZK Snark upgradability, enhancing security without contract rewrites, giving developers control over public and private data.
Charles Hoskinson noted Midnight's role in resolving blockchain privacy issues, bridging transparency with business confidentiality needs.
According to Hoskinson, this launch marks a significant achievement in advancing privacy-focused blockchain applications.
Eran Barak, CEO of Midnight, emphasised the necessity of privacy in blockchain technology, especially with the rise of AI.
He pointed out that blockchain metadata can expose sensitive information, potentially compromising individuals and organisations.
"Privacy isn't a luxury in crypto; it's a necessity," Barak stated.
This perspective is supported by Paul Brody from EY and Avidan Abitbol from the Data Ownership Protocol, who highlight the importance of privacy solutions for protecting business data.
Midnight enables efficient and secure smart contract execution on the Cardano (CRYPTO:ADA) network.
It allows users to maintain control over their personal data while ensuring transaction visibility on the blockchain.
The sidechain supports various programming languages, including Typescript, to simplify smart contract development.
By utilising zero-knowledge cryptography, Midnight establishes a secure ecosystem for sensitive data.
The sidechain is designed to be interoperable with other blockchains, enabling developers to build dApps that interact across different blockchain ecosystems.
This interoperability is achieved through sidechain bridges, which facilitate data and asset transfer between blockchains.
At the time of reporting, the Cardano (ADA) price was $0.6889.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Navigating Crypto Volatility: How Bitcoin and Altcoins Influence Your Trading Choices
Understanding the Impact of Market Volatility on Crypto Trading: A Look at the Risk and Reward in Bitcoin and Altcoins

Bitcoin Plunge Signals Opportunity to Buy as USDT Flow Peaks in Six Months
Analyzing Stablecoin Spikes amid Bitcoin's Decline: A Sign of Impending Rally or a Word of Caution?

Keeping Faith in Bitcoin: Unraveling the 2017 Cycle and the Power of HODLing Strategy
Identifying Parallels Between BTC's Current Trends and Its Performance Four Years Prior - Should Investors Hold Firm or Alter Approaches?

Fantom’s Solid Pattern of Higher Lows: What’s Next for FTM Price?

Trending news
MoreCrypto prices
More








