Midnight Network
is a Layer 1 blockchain developed by Input Output Global (IOG) focused on programmable, zero-knowledge privacy. It enables compliant, confidential smart contracts and transactions, allowing users to selectively disclose data. The network utilizes a dual-token system: $NIGHT for governance and $DUST for transaction fees.
Midnight Network +5
Key Aspects of Midnight Network:
Technology: Uses zero-knowledge (ZK) cryptography to ensure data privacy while allowing verification.
Tokenomics: $NIGHT is the native, unshielded governance token. Holding $NIGHT generates $DUST, which is a shielded, non-transferable resource used to pay for transaction fees.
Interoperability: Designed to work alongside existing blockchains, with a native bridge to the Cardano ecosystem.
Purpose: Aims to provide "rational privacy," allowing developers to build dApps that comply with regulations while protecting user data.