Cardano Founder Launches Privacy Chain Midnight, Adopting ZK Technology and Dual Token Model

March 31st News, according to The Block, Cardano founder Charles Hoskinson announced the launch of the privacy-preserving blockchain Midnight, which generated its genesis block on Monday. Midnight utilizes zero-knowledge proof (ZK) technology, allowing users to selectively disclose or hide data while supporting compliance requirements. Its hybrid ledger can mix public and private data in a single transaction and supports shielded assets that hide balances and counterparty information. Midnight employs a dual-token model: the governance token NIGHT serves as an ecosystem store of value, and holders receive a regenerative gas token DUST. DUST is generated proportionally to holdings and can be transferred to others for paying transaction fees. The network opened a year-long NIGHT airdrop to 37 million eligible wallets in December last year. Early node operators include Worldpay, Bullish, MoneyGram, and Google Cloud. Midnight achieves bidirectional asset interoperability with Cardano, and Cardano's stake pool operators can also run Midnight validator nodes.