The blockchain project Cardano, led by Charles Hoskinson, has been inundated with persistent concerns and apprehensions in the form of panic calls and messages spreading fear, uncertainty, and doubt (FUD). Much of the recent anxiety has centered around the innovative Midnight project, which focuses on the creation of privacy-focused sidechains.
This development has piqued significant interest within the cryptocurrency community. Despite Charles Hoskinson, the founder of Cardano, offering insights into Midnight’s potential impact on the industry earlier this month, there are still some individuals expressing reservations about certain crucial details.
In particular, there have been inquiries regarding the launch of Midnight’s native coin, DUST, and the identities of the partners collaborating with Input Output Global (IOG) to ensure the sidechain’s adherence to legal regulations.
Meanwhile, Dan Gambardello, a well-known Cardano enthusiast, has taken it upon himself to comprehensively address the concerns within the network. In a recent post on the X platform (formerly known as Twitter), Gambardello responded by asserting that the concerns surrounding Cardano and the Midnight project may have been somewhat exaggerated. He emphasized that these concerns often stem from overly critical scrutiny or insufficient examination of the situation, urging the community to adopt a more nuanced perspective.
Furthermore, Gambardello pointed out that the Midnight project is not a hasty attempt to replace Cardano. He highlighted that Charles Hoskinson has described Midnight as a meticulously crafted project that has been in development for over four years.
Importantly, this project emerged from IOHK’s exploration of both proof-of-work and proof-of-stake mechanisms. Gambardello also clarified that the purpose of the Midnight project is not to overshadow Cardano but to complement it by serving as a sidechain. Midnight brings new capabilities to the Cardano ecosystem, including the implementation of private smart contracts written in TypeScript.
Moreover, Gambardello emphasized that Midnight is not just a minor side project; instead, it enhances Cardano’s potential, strengthening its network effect and technological capabilities. He noted that Hoskinson and the Cardano team had planned a gradual release of the DUST token, known as a “glacier drop,” to ensure that ADA holders and other participants would benefit, underscoring their commitment to the interests of ADA holders.