ChainCatcher message, Cardano founder Charles Hoskinson announced the launch of the privacy-oriented sidechain Midnight, which has generated its genesis block, marking the project's official entry into the operational phase.

Midnight is developed by Input Output Global and positioned as a 'fourth-generation blockchain,' aiming to drive real-world asset tokenization through end-to-end privacy capabilities. The network utilizes zero-knowledge proof (ZK) technology to achieve selective disclosure of data, satisfying compliance requirements while protecting user privacy. Architecturally, Midnight has an independent ledger, consensus mechanism, and smart contract environment, connecting with the Cardano ecosystem through interoperable design. Its hybrid ledger supports processing both public and private data in the same transaction and offers the ability to conceal balance and counterparty information. Additionally, Midnight introduces a programming language called Compact to lower the barrier for developers in building privacy applications and adopts a dual-token model to optimize network usage costs and incentive mechanisms.