Inside Hoskinson’s Plan to Unlock $20 Trillion in Crypto Assets with Cardano’s Midnight Protocol ⋆ ZyCrypto
The post Inside Hoskinson’s Plan to Unlock $20 Trillion in Crypto Assets with Cardano’s Midnight Protocol ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Charles Hoskinson, the CEO of IOHK, is setting his sights on helping unlock a staggering $20 trillion in crypto assets through the launch of the Midnight protocol. In a recent interview on the Blockster podcast, Hoskinson shared his ambitious vision for the Cardano ecosystem, highlighting how the privacy-focused protocol could tap into a massive pool of value that has been sidelined due to restrictive regulatory barriers. Notably, Midnight is designed to provide privacy as a service through the use of zero-knowledge proofs (ZKPs), which allow transactions to occur without revealing sensitive data. The protocol addresses the growing demand for privacy in blockchain networks, where concerns over privacy and regulatory compliance are becoming increasingly prominent. “Privacy is the biggest pie ever seen in the history of any business endeavor,” Hoskinson stated, emphasizing the vast, untapped potential of assets that require privacy protections. Another major aspect of the Midnight protocol’s innovation is its ability to facilitate interoperability across multiple blockchains. According to the crypto mogul, the protocol will create a “meta-chain,” enabling various cryptocurrencies, including Cardano, Ethereum, XRP, and Solana, to coexist and transact seamlessly. He further noted that this multi-resource consensus is crucial for fostering a truly decentralized and privacy-oriented ecosystem. Advertisement   “It looks like it’s a layer two to everybody,” he explained, noting that Midnight’s privacy layer will appear as an extension of any major blockchain while maintaining full cross-chain compatibility. Hoskinson also discussed the importance of the tokenomics model behind Midnight. The protocol will utilize a dual-token structure, balancing deflationary assets for governance with inflationary tokens for gas fees. This approach aims to create stability and predictability in transaction costs, a crucial factor for businesses and users alike. That said, by focusing on privacy, interoperability, and a sustainable economic model, Cardano’s Midnight protocol could attract…
Filed under: News - @ December 20, 2024 3:19 pm