Midnight

Midnight is a new generation of blockchain, developed by Charles Hoskinson - the cofounder of Ethereum and founder of Cardano, that uses zero-knowledge (“ZK”) proof technology to offer utility without compromising data protection or ownership, enabling applications that safeguard user, commercial, and transaction data and metadata. Midnight introduces a novel blockchain architecture designed to address key privacy-limiting designs of existing public blockchains, supporting applications that require a balance between privacy and disclosure. The Midnight protocol combines the use of a ZK proofs-based, public-private dual-state ledger architecture to protect data, with a composite, dual-component tokenomics design to protect metadata. Midnight introduces several core innovations aimed at enabling programmable privacy, regulatory compliance, and developer accessibility. It is built around a dual-component token system comprising NIGHT, a utility token, and DUST, a shielded, decaying, non-transferable resource used to enable metadata-shielded transactions. The platform supports composability, fee abstraction, and selective disclosure in zero-knowledge circuits, allowing for privacy-preserving applications that meet business and regulatory requirements. Developers interact with the protocol via a TypeScript-based smart contract framework, making Midnight accessible to mainstream builders while supporting advanced cryptographic logic. Midnight’s ZK execution engine is based on Kachina research and uses Pluto-Eris curves to produce BLS-type proofs, enabling scalable, composable privacy at the protocol level. The roadmap also includes ZSwap, a privacy-preserving exchange mechanism, and integration with the Polkadot SDK (Substrate) for modular deployment of hybrid dApps. Midnight operates in the vertical of Privacy Enhancing Technology and supports applications that support privacy, selective disclosure, and regulatory compliance across verticals such as DeFi, AI, identity solutions, governance and enterprise workflows.