The privacy public chain Midnight, supported by Charles Hoskinson, has been launched within the Cardano ecosystem

According to CoinDesk, Cardano founder Charles Hoskinson has invested approximately $200 million to support the privacy public chain Midnight, which has now launched within the Cardano ecosystem, aiming to address what he calls "the core design flaws of crypto."

Midnight does not directly compete with Bitcoin or Ethereum but runs in parallel, allowing users and businesses to use the 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 scenarios including confidential financial products, identity systems, and enterprise data processes. Midnight also aims to lower the threshold for private key management, enabling users to "click and authenticate to use," and in some cases, even use the blockchain without awareness.