Charles Hoskinson, Cardano (ADA) founder, has explained how the cryptocurrency\u2019s future privacy protocol (Midnight) would work within their ecosystem.\u00a0<\/p>\n
In a recent YouTube interview<\/a>, he claimed that the planned integration would help establish a confidentiality network of smart contracts. According to him, Midnight aims to resolve the paradoxical issue of having privacy and disclosure of a protocol\u2019s rules simultaneously.<\/p>\n The announcement yielded positive results, evident with a spike in on-chain activity. Data from Santiment<\/a> on Cardano\u2019s Age Consumed showed a movement of over 107 billion ADA (including old coins) on December 7.\u00a0<\/p>\n Below are the critical remarks made by Charles Hoskinson in the interview streamed on Corey Costa\u2019s Crypto Coins YouTube channel.<\/p>\n From a regulatory perspective, you\u2019re not actually allowed to use blockchain systems [for privacy]. Why? There\u2019s [the] Bank Secrecy Act, GDPR [General Data Protection Regulation], you have all these privacy departments.<\/p>\n He continued:<\/p>\n Anytime you could engage in a regulated business, there\u2019s a privacy requirement because regulated business requires you to give away some personally-definable information, and there\u2019s a privacy law on the other side of it that says you have to keep it a secret.<\/p>\n Hoskinson further added,<\/p>\n The problem is that if you try to do it in a blockchain setting, your private information becomes public to everybody\u2026 so it made sense to me to find a way to\u2026 create a confidentiality network, so like what Ethereum did to Bitcoin, where Ethereum said \u2018we have programmability,\u2019 Midnight does to [Cardano], where instead of having a privacy coin, what you do is you have a confidentiality network, you have smart private contracts.<\/p>\n Cardano\u2019s Midnight targets a general issue\u2014concurrent privacy and disclosure legislation\u2014that most blockchain protocols face<\/a>. And the result is a surge in on-chain activity, which many experts believe would add more value to the network.<\/p>\n Please note ADA has a fixed maximum supply of 45 billion tokens maximum supply. This figure would eventually have an impact on the cryptocurrency\u2019s value in the future when it reaches its max supply. The future value of this coin may depend on its new privacy technology.<\/p>\n Cardano Crypto (ADA), according to CoinMarketCap<\/a>, traded at a 3.33% loss. Even on its intraday charts, it prints a 0.12% loss. However, it experienced much volatility before grabbing profits. On the bright side, the token\u2019s wallet addresses have increased, signaling a possible spike in demand. Possible catalysts could be the blockchain\u2019s increased push for development. We can only wait to see how this surge affects the overall sentiment.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Charles Hoskinson, Cardano (ADA) founder, has explained how the cryptocurrency\u2019s future privacy protocol (Midnight) would work within their ecosystem.\u00a0<\/p>\n In a recent YouTube interview<\/a>, he claimed that the planned integration would help establish a confidentiality network of smart contracts. According to him, Midnight aims to resolve the paradoxical issue of having privacy and disclosure of a protocol\u2019s rules simultaneously.<\/p>\n The announcement yielded positive results, evident with a spike in on-chain activity. Data from Santiment<\/a> on Cardano\u2019s Age Consumed showed a movement of over 107 billion ADA (including old coins) on December 7.\u00a0<\/p>\n Below are the critical remarks made by Charles Hoskinson in the interview streamed on Corey Costa\u2019s Crypto Coins YouTube channel.<\/p>\n From a regulatory perspective, you\u2019re not actually allowed to use blockchain systems [for privacy]. Why? There\u2019s [the] Bank Secrecy Act, GDPR [General Data Protection Regulation], you have all these privacy departments.<\/p>\n He continued:<\/p>\n Anytime you could engage in a regulated business, there\u2019s a privacy requirement because regulated business requires you to give away some personally-definable information, and there\u2019s a privacy law on the other side of it that says you have to keep it a secret.<\/p>\n Hoskinson further added,<\/p>\n The problem is that if you try to do it in a blockchain setting, your private information becomes public to everybody\u2026 so it made sense to me to find a way to\u2026 create a confidentiality network, so like what Ethereum did to Bitcoin, where Ethereum said \u2018we have programmability,\u2019 Midnight does to [Cardano], where instead of having a privacy coin, what you do is you have a confidentiality network, you have smart private contracts.<\/p>\n Cardano\u2019s Midnight targets a general issue\u2014concurrent privacy and disclosure legislation\u2014that most blockchain protocols face<\/a>. And the result is a surge in on-chain activity, which many experts believe would add more value to the network.<\/p>\n Please note ADA has a fixed maximum supply of 45 billion tokens maximum supply. This figure would eventually have an impact on the cryptocurrency\u2019s value in the future when it reaches its max supply. The future value of this coin may depend on its new privacy technology.<\/p>\nCardano\u2019s Growth Booster: New Privacy Protocols And A Surge In On-Chain Activity<\/h2>\n
Should You Buy Cardano Now?<\/h2>\n
Cardano\u2019s Growth Booster: New Privacy Protocols And A Surge In On-Chain Activity<\/h2>\n
Should You Buy Cardano Now?<\/h2>\n