PANews reported on March 31 that, according to The Block, Cardano founder Charles Hoskinson announced the launch of the privacy-preserving blockchain Midnight, whose genesis block was generated on Monday. Midnight uses zero-knowledge proof (ZK) technology, allowing users to selectively disclose or hide data while supporting compliance requirements. Its hybrid ledger can mix public and private data in a single transaction and supports shielded assets that hide balances and counterparty information.

Midnight employs a dual-token model: the governance token NIGHT serves as the store of value for the ecosystem, while holders receive renewable Gas tokens, DUST. DUST is generated proportionally to holdings and can be transferred to others to pay transaction fees. Last December, the network launched a one-year NIGHT airdrop to 37 million eligible wallets. Early node operators include Worldpay, Bullish, MoneyGram, and Google Cloud. Midnight also enables two-way asset interoperability with Cardano, and Cardano staking pool operators can also run Midnight validator nodes.