Cardano’s Hoskinson and Ripple CTO David Schwartz discuss the Midnight project.
Schwartz shared on X that Midnight sounds extremely interesting.
Hoskinson discloses new details about Midnight’s airdrop mechanism.
Cardano founder Charles Hoskinson and Ripple CTO David Schwartz engaged in a technical discussion about Midnight. The duo’s conversation on Cardano’s privacy-focused blockchain project gained traction on X from the ADA community.
The conversation between the two blockchain pioneers centered on Midnight’s advanced privacy features and its potential impact on the broader cryptocurrency ecosystem. Schwartz described the project as “extremely interesting.”
It was great talking to @JoelKatz about Midnight and XRP. Wonderful technical conversation.
— Charles Hoskinson (@IOHK_Charles) November 18, 2024
In addition, during a surprise AMA session on November 17, Hoskinson provided new insights into Midnight’s token structure and airdrop eligibility. The project will integrate a dual-token model that will feature NIGHT and DUST tokens. Each of these tokens will serve distinct purposes within the ecosystem.
NIGHT tokens will handle governance and staking functions, while DUST will serve as the primary transaction currency on the Midnight blockchain. Hoskinson confirmed that ADA holders would be eligible for what he termed a “glacier drop” of DUST tokens.
The distribution mechanism introduces a different approach from the typical airdrop requirements. This new airdrop mechanism requires recipients to participate in mining activities on the Midnight blockchain to fully acquire their tokens. Cardano’s blockchain will serve as the primary platform for token distribution. However, the specific details of the airdrop are still forthcoming.
Midnight’s architecture uses zero-knowledge cryptography to enable secure and private transactions. The project’s testnet, launched last month, provides developers with access to privacy-focused dApp development tools.
The platform integrates the Compact programming language with TypeScript, creating an easy development environment for building decentralized applications. The technical conversation between Hoskinson and Schwartz comes at a crucial time as blockchain privacy solutions gain increasing attention in the cryptocurrency space.
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