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Cardano Is Launching New Privacy Blockchain and Token

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Input Output Global (IOG), the firm behind the Cardano blockchain, is releasing a new privacy-focused blockchain called Midnight and a token called dust to accompany the new network.

Midnight, which is underpinned by zero-knowledge-proof technology, is one of many side chains now being deployed around Cardano, and will go beyond previous privacy-coin projects by delivering zero-knowledge-proof smart contracts, IOG CEO Charles Hoskinson said during an event at Edinburgh University in Scotland on Friday.

The system will walk the line between preserving privacy and allowing regulators and auditors a backdoor into the system when permission is granted, he said.

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