Input Output Global (IOG) has officially launched Midnight — a privacy-preserving sidechain enabling enterprises and government entities to transact on a public blockchain while keeping sensitive data confidential.
Midnight uses zero-knowledge proof technology to allow selective disclosure: a business can prove it holds a valid credential or has executed a qualifying transaction without revealing the underlying data. This has attracted interest from healthcare providers, financial institutions, and public sector organizations.
Charles Hoskinson, Cardano’s founder, described Midnight as “the missing layer for enterprise blockchain adoption,” arguing it eliminates the impossible choice between transparency and privacy that existing public blockchains force on users.
The network launched with 47 enterprise partners signed up for pilot programs, including a European pharmaceutical company and two US healthcare providers. DUST, the sidechain’s native token, will be used for transaction fees and governance. Cardano’s ADA token rose approximately 12% in the week preceding the launch.
