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Crypto analyst Juan M. Villaverde just revealed he's buying Midnight's NIGHT token below five cents. That's kinda surprising given Cardano's mixed track record. But here's the thing - this isn't just another altcoin play.
Villaverde made serious money on Cardano years back. He liked the tech stack then and still does. Problem? No apps came. Users never showed up. The blockchain was too slow. But ADA pumped anyway and he got out with profits.
Why Midnight's Getting Another Shot
Now the same team's building Midnight with NIGHT token. It's a private smart contract platform using zero-knowledge proofs. Villaverde's willing to give them another chance despite Cardano's letdown.
"I made a lot of money on Cardano because I like and I still do the way it was built. Problem is there are no apps. It doesn't work. It's too slow,"
.
The dual blockchain setup keeps NIGHT transfers transparent. But smart contracts? Those use zk proofs by default. Privacy's baked into the programming language itself.
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No VCs, Just Old School Distribution
Here's what's different - no venture capital involved. Distribution happened through exchanges and airdrops. They're running incentive programs now to spread tokens around. It's an old school fair launch approach.
"There are no VCs involved. It was distributed across exchanges. It was airdropped," Villaverde explained.
According to Weiss Crypto on X, skepticism's essential in crypto. After all, most new projects are junk. But they think Midnight appears completely different.
Charles Hoskinson, who's an Ethereum founder by the way, is leading this. Yeah he sided with Ethereum Classic during the hard fork. And yeah he's super eccentric. But he believes in crypto and keeps building stuff.
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The Privacy Tech Nobody Else Built
Midnight's the only private smart contract platform on the planet. Probably the only one that'll ever get created unless privacy becomes sexy again. Maybe Solana will try. Maybe Ethereum could do a completely private layer two. But they're not building it - IOG is.
The tech came from Zcash research. Back then researchers couldn't figure out how to do smart contracts with the math. Only payments worked. Now they've solved it. But nobody actually created a private smart contract platform until Midnight.
"I can write private smart contracts and I don't know anything about privacy. I can write smart contracts. I don't know anything about zero knowledge proofs and the math," Villaverde noted.
The compiler handles everything. You just say which sections should be private. The platform uses what's apparently the best privacy technology available.
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Cardano Team's Mixed Track Record
Look the Cardano team's track record isn't perfect. They're excellent researchers for sure. But they get stuck in theory and fail to deliver good products sometimes. Doesn't mean they can't succeed though.
All the building blocks are there for Cardano to be amazing. It just isn't. There were flaws. Maybe lessons got learned. Maybe Midnight benefits from those mistakes.
Villaverde's buying whenever NIGHT drops below five cents. He's not saying it'll hundred x or anything crazy. Just thinks it might work out. It's a bet on whether the team can finally deliver.
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Private smart contracts don't exist in crypto right now. Everything's transparent. If Midnight delivers that capability with easy-to-use tools, it could catch on. Who knows - maybe it becomes one of the most widely used layer ones for niche privacy applications.
The token's trading now. Distribution's ongoing. And one analyst who profited from Cardano before is taking another shot on the same team's new project.
3 Key Takeaways:
Analyst buying NIGHT token below 5 cents despite Cardano's disappointing app ecosystem and slow performance
Midnight offers only private smart contract platform using zero-knowledge proofs with no VC involvement
Fair launch distribution through exchanges and airdrops sets old school approach apart from typical launches
#Midnight #NIGHTtoken #Cardano #CharlesHoskinson #PrivacyCrypto
This Article First Appeared on: https://www.cryptonewslive.org/article/cardano-founders-midnight-token-sparks-privacy-revolution-bet