On18 November, the company behind the Cardano blockchain, Input Output Global (IOG), announced a new, privacy-focused blockchain called "Midnight" and a utility token called "Dust" to go along with the new network.

Charles Hoskinson, the CEO of IOG, stated Midnight, one of many side chains deployed around Cardano, would be underpinned by zero-knowledge-proof technology, attaining feats other privacy projects failed to achieve.

Additionally, Cardano would also launch a regulated algorithmic stablecoin called DJED. On November 22, the team behind the stablecoin announced that the DJED stablecoin would go live on the Cardano mainnet starting next year after a successful audit and rigorous stress testing.

Many have asked the question why was there a need for another Token "Dust" and also of a private Blockchain "Midnight"?

The details of the same are yet to come but the stablecoin "Djed" looks like something which not many investors will be using at first, as investors are worried about the Stablecoin specially since USDT de pegged twice in this month although it again regained it's peg.