Crypto Investors betting on $ADA amid Midnight Protocol hype
Cardano (ADA) crypto blockchain grabbed huge popularity in the Crypto space in the last few weeks following the hype of Midnight Protocol.
Cardano is a popular scalable blockchain network, founded by Ethereum co-founder Charles Hoskinson. In 2017, this crypto project was launched by IOG (Input Output Hong Kong Global), a developer firm behind the Cardano project. Currently, Charles Hoskinson is CEO of IOG.
In the last few weeks, the Cardano project grabbed a high degree of popularity because of Midnight Protocol, a Cardano sidechain.
In late 2021, Cardano already introduced smartcontract support in its ecosystem as a part of the crypto trend but it took a huge time for IOG, as they were focused on a better level of smartcontract features over all the existing smartcontracts in the whole crypto space. The smart contract feature of the Cardano network is efficient as well as much more transparent than other blockchains but lacks the privacy of the users.
Midnight protocol showed a more clear picture of the modified version of the smart contract. The developers behind Midnight Protocol designed the smart contract in such a way that it will ensure data protection while maintaining the decentralization of smartcontracts.
Crypto experts believe that it will be a game changer for the future of the Cardano blockchain because it will not only be able to provide efficient smart contract technology use but simultaneously provide a better degree of confidentiality in the data transaction.
Just a few weeks back, the developers launched Midnight Devnet and now they are working their best for the final phase of the launch.
ICYMI, last week, #MidnightDevnet went live. Here’s what happened this week:
— Midnight (@MidnightNtwrk) November 24, 2023
Credentials sent to all of our Cohort 1 Pioneers to access devnet (shortlisting underway for Cohort 2)
Also during the Cardano summit, the Cardano founder Hoskinson explained all about the Midnight Protocol and explained how the new design of this smartcontract will provide a better level of data protection.
The current trade price of ADA, the native coin of the Cardano blockchain network, is $0.39 & this trade price is 37% higher over the last 30 days of trade price.
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