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[SITUATION] · [QUIET] · [TECHNOLOGY]

5 clusters · 13 sources · 21 days · First seen · Last updated

Charles Hoskinson predictions for Midnight blockchain

Overview

Charles Hoskinson, founder of Cardano and Input Output Global, has predicted that the Midnight blockchain will eventually outgrow Zcash. Hoskinson suggests Midnight possesses superior capabilities, such as private smart contracts and a DeFi kernel designed for major chains, driven by a combination of privacy technology, artificial intelligence, and cross-chain functionality. Midnight operates as a specialized layer-1 partner chain to Cardano, utilizing zero-knowledge proofs, trusted execution environments, and multi-party computation while maintaining an independent ledger. The network focuses on selective privacy, enabling users to reveal only specific necessary information through features like selective disclosure and private agents. Following these predictions, the native NIGHT token experienced a significant price rally, rising from $0.022 to approximately $0.032. This movement was accompanied by a 50% increase in spot volume to $54 million and a surge in derivatives activity. Market interest has been fueled by discussions regarding Midnight’s potential to surpass Zcash through programmable and rational privacy. However, skepticism remains among analysts who point to the massive liquidity and decade-long history of Zcash, suggesting it may be difficult for Midnight to close the gap quickly. Additionally, technical indicators show the NIGHT token entering overbought territory, with an RSI of 80.09, indicating that recent momentum may require a period of cooling. Building on this momentum, the NIGHT token recently surged approximately 90% to 100% in a single week, reaching prices between $0.047 and $0.05. This rally brought its market capitalization to between $762 million and $800 million, placing it among the top 100 cryptocurrencies. Technical progress has accelerated with the granting of permissionless access for mainnet smart-contract deployment. Chief Technology Officer Sebastien Guillemot has outlined a roadmap where version 8 will enable private smart contracts and version 9 will focus on composability.

Entities

Charles Hoskinson · Midnight · Cardano · Zcash · Monument Bank

Timeline

  1. [TECHNOLOGY] 4 sources
    Cardano founder targets network completion with Leios upgrade

    Cardano founder Charles Hoskinson states the network is nearing completion with the Leios upgrade, while teasing a career-defining new concept involving the Midnight privacy-focused network.

  2. [TECHNOLOGY] 3 sources
    Midnight's NIGHT token surges 100% amid privacy network development

    Midnight’s NIGHT token surged nearly 100% in a week, reaching a market cap of approximately $800 million as the Cardano-based privacy network advances its smart contract and tokenization roadmap.

  3. [TECHNOLOGY] 2 sources
    Midnight cryptocurrency rallies on privacy feature speculation

    Midnight (NIGHT) cryptocurrency has rallied toward $0.032 amid speculation that its programmable privacy features could allow it to eventually surpass Zcash in market significance.

  4. [TECHNOLOGY] 4 sources
    Charles Hoskinson predicts Midnight blockchain will outgrow Zcash

    Cardano founder Charles Hoskinson predicts the Midnight privacy blockchain will eventually surpass Zcash, citing advanced features like selective disclosure and a cross-chain DeFi kernel.

  5. [TECHNOLOGY] 2 sources
    Charles Hoskinson predicts Midnight blockchain will outperform Zcash

    Cardano founder Charles Hoskinson predicts the Midnight blockchain will surpass Zcash by leveraging private smart contracts, AI, and cross-chain functionality.

Sources

ad-hoc-news.de · ambcrypto.com · blockonomi.com · captainaltcoin.com · coinedition.com · coingape.com · comparic.pl · crypto-insiders.nl · it-boltwise.de · kriptoworld.hu · tokenpost.com · u.today · zycrypto.com

This summary has been updated 3 times: see revision history