Midnight, a privacy-focused public blockchain backed by Charles Hoskinson, has been launched within the Cardano ecosystem.

Midnight, a privacy-focused public blockchain backed by Cardano founder Charles Hoskinson with approximately $200 million in investment, has launched within the Cardano ecosystem, aiming to address what he calls "core cryptographic design flaws." Midnight does not directly compete with Bitcoin or Ethereum, but operates in parallel, allowing users and businesses to use blockchain without exposing asset and behavioral details by hiding sensitive data and simplifying interactions. The project will advance infrastructure, applications, and governance in phases, with early applications including confidential financial products, identity systems, and enterprise data processes. Midnight also seeks to lower the barriers to private key management, allowing users to "click and authenticate to use," and in some cases even use the blockchain without being aware of it.