Gate News message: On March 30, the Cardano ecosystem privacy chain Midnight officially went live on March 24 (Monday). The project is backed by approximately $200 million in funding from Cardano founder Charles Hoskinson and is intended to address the crypto industry’s core design problems. Built on top of the Cardano ecosystem, Midnight is positioned as a complementary network that runs in parallel with Bitcoin and Ethereum. By hiding sensitive data and reducing operational complexity, it enables users and enterprises to use blockchain more securely and conveniently. Hoskinson summarizes the crypto industry’s core problems into three areas: insufficient privacy, operational complexity, and missing compliance. In Midnight’s design, users don’t need to manage their own private keys, transactions won’t automatically expose balances or on-chain activity, and in some scenarios users may not even need to be aware of the underlying blockchain.
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