Charles Hoskinson, founder of Cardano, said that Ripple in particular has a potential tie-in with the integration of decentralized finance (DeFi), a stable coin and Midnight, a privacy-focused sidechain developed by IOHK (Input Output Global).
The discussion unfolded during a surprise AMA session on Monday, when Hoskinson was answering a listener's question about the possibility of #cardano and #XRP working together. Hoskinson expressed optimism about the synergy between Cardano and XRP, especially in terms of liquidity and #DeFi .
We can add a great DeFi
component to XRP, Hoskinson said, emphasizing that XRP could benefit from an infusion of liquidity and a stable number of coins. Indeed the bridge has also been cited as a path to integration between the chains, allowing for greater interoperability between the two ecosystems
a key element of the discussion was Midnight, a pioneering sidechain designed to enhance #blockchain privacy using Zero-knowledge Proof (ZK) technology. According to a white paper published on May 9, Midnight is designed to facilitate private smart contracts while preserving privacy and data ownership. Hoskinson is also in talks with Ripple CTO David Schwartz and his team, saying that a preliminary plan is underway to integrate Midnight into the XRP Registry (XRPL).
The goal is to add a private smart contract. This is to make private public, Hoskinson explained. Midnight aims to solve the current blockchain problem where most smart contracts operate in a public environment and expose sensitive data, enabling private transactions.
additionally, the cryptomagnate suggested working with other blockchain networks, saying: There are so many comments... Midnight is a 4th generation cryptocurrency designed to complement all cryptocurrencies. He emphasized Midnight's interoperability and said that it was designed to work not only with Cardano and XRP, but also with Ethereum and Solana, and that it is also in talks with other ecosystems.
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