Cardano announced the new sidechain and the accompanying Dust token.
Input Output Global Inc., the firm behind the Cardano blockchain. (IOG) is launching a new data protection, privacy-centric blockchain, along with a token. The company’s CEO, Charles Hoskinson, announced it at an event at Edinburgh University in Scotland on Friday.
Cardano Announces Privacy-Centric Blockchain and New Token Dust
Dubbed Midnight, the blockchain is one of Cardano’s sidechains and will offer zero-knowledge smart contracts that allow parties to complete transactions without exposing any identifying data to each other. The accompanying token will be called “Dust”.
Hoskinson said that while the blockchain network balances the privacy of users, it will allow authorities access to the system if allowed.
Referring to existing privacy-centric blockchain networks Zcash and Monero, Hoskinson said Midnight will be built in a more widely accepted programming language to allow a wider range of developers to build on the network.
Midnight said it is still in development and will continue to deliver updates as IOG works on it until 2023.
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