Midnight won't chase Monero, ZCash users
Cardano, the blockchain network known for its ADA cryptocurrency, is preparing to launch its new privacy-focused blockchain project called Midnight. According to Cardano founder Charles Hoskinson, Midnight will not be targeting 'privacy maximalists' — users of private cryptocurrencies like Monero and Zcash.
Instead, Hoskinson said, Midnight will be focused on 'billions of people who don't even know they need privacy'. The Cardano founder noted that a huge number of users worldwide are still not aware of the importance of privacy in digital communications and finance, and this is the segment Midnight will be targeting.
Midnight is gearing up for its mainnet launch in March 2023. It will utilize zero-knowledge proof technology to enable transaction data obfuscation. This should make it appealing to users who value privacy but are not yet ready to migrate to existing privacy-focused blockchains.
Expert opinion
Cardano's strategy of targeting less tech-savvy users when it comes to privacy seems reasonable. Monero, Zcash, and other privacy coins already have their established user base, and Midnight is unlikely to be able to take away a significant portion of their users. However, there is a huge untapped demand among the general public for simple and accessible tools to ensure digital privacy, which Midnight can potentially offer.
If the Cardano team manages to position and market Midnight correctly, it could become a successful project capable of attracting millions of new users who recognize the importance of confidentiality in the modern world.