Charles Hoskinson predicts Midnight blockchain will outperform Zcash

Cardano founder Charles Hoskinson has stated that the privacy-focused blockchain project Midnight is positioned to outperform Zcash. Hoskinson noted that Midnight offers capabilities beyond Zcash, including private smart contracts and a DeFi kernel designed for all major chains. He attributed this potential to a combination of privacy technology, artificial intelligence, cross-chain functionality, and Cardano infrastructure.

Midnight operates as a specialized layer-1 partner chain alongside Cardano, maintaining its own independent ledger while remaining architecturally connected to the Cardano network. The project aims to utilize technologies such as zero-knowledge proofs (ZK), trusted execution environments (TEE), and multi-party computation (MPC).

As of late September, the NIGHT token has seen increased market activity, with a 5% price rise and a significant jump in open interest to approximately $19.05 million. The token's market capitalization is reported at $437 million.