Cardano Founder "Midnight (NIGHT) Will Surpass Zcash (ZEC)"

▲ Charles Hoskinson, Cardano (ADA), Midnight (NIGHT)/ChatGPT generated image

Charles Hoskinson, the founder of Cardano (ADA), expressed confidence that Midnight (NIGHT), a blockchain project specializing in privacy, will surpass Zcash (ZEC) in the future. He diagnosed that the combination of privacy technology, artificial intelligence (AI), cross-chain functionality, and Cardano's infrastructure will allow it to overcome Zcash's stronghold.

According to U.Today, a virtual asset media outlet, on September 28 (local time), Hoskinson predicted via X (formerly Twitter) that Midnight would become larger than Zcash. Hoskinson cited selective information disclosure, private agents, and abstraction technology based on a decentralized finance (DeFi) kernel encompassing major blockchains as Midnight's core competitive advantages. He emphasized that these would be combined with Zero-Knowledge Proof (ZK), Trusted Execution Environment (TEE), Multi-Party Computation (MPC) technologies, Cardano's uninterrupted uptime, and the performance of Leios, a next-generation consensus algorithm.

While Hoskinson did not limit the meaning of "surpassing Zcash" to specific figures, the market is focusing on the difference in terms of market capitalization and ecosystem size. According to CoinGecko data, Midnight (NIGHT)'s market capitalization is approximately $437 million, placing it 122nd among all virtual assets. In contrast, Zcash (ZEC) has firmly established itself within the top 10 recently, recording a market capitalization of $26.4 billion, indicating a simple size difference of about 60 times between the two.

Midnight is designed not just as a sidechain but as a specialized Layer 1 partner chain with its own independent ledger. Having launched its mainnet in March, Midnight processes transactions independently while being organically connected to Cardano's security structure. Hoskinson had previously named Midnight as the most interesting project being pursued by developer Input Output in a live broadcast, expressing confidence in its rapid development speed.

Market analysis institutions are also giving positive evaluations to Midnight's growth potential. Market analysis platform Weiss Crypto recently stated in a report that Midnight has a high probability of becoming one of the most promising assets in the market over the next 24 months. They explained that its technical structure, which simultaneously satisfies privacy protection and regulatory compliance, could drive institutional demand.

Despite the huge difference in size, market attention is focused on Midnight's challenge, which is spearheaded by next-generation privacy technology. Investors are keenly watching whether Midnight, backed by the Cardano ecosystem, can overtake Zcash and become the leading player in privacy blockchains.

[Key Article Summary]

-Charles Hoskinson predicted that Midnight (NIGHT) would surpass Zcash (ZEC), leveraging private agents and ZK/TEE technologies.

-Currently, Midnight's market cap is $437 million, while Zcash's is $26.4 billion, a size difference of about 60 times.

-Market analysis platform Weiss Crypto also identified Midnight as a top promising asset within the next 24 months.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*