Cardano founder says native securities trading has been achieved on the blockchain for the first time.

He shared his recent experience.PodcastThanks to Midnight, previous skepticism about on-chain securities trading has been dispelled.

“For the first time, we have achieved native trading of securities on the blockchain.” He stated that the emergence of Midnight made all this possible.

Privacy Issues and the Role of Cardano Sidechain Midnight Mechanism

Hoskinsonemphasized that specific requirements must be met to enable native trading of securities on the blockchain. He mentioned that privacy, selective disclosure, and the ability to handle both public and private information on the same platform are key components.

Although institutional adoption of blockchain technology is increasing, there are still many challenges to enabling native trading of securities on-chain. One major obstacle is that public blockchains provide full disclosure of information, exposing specific transaction details such as the addresses of senders and recipients.

It is worth noting that this is different from traditional markets, where exchanges retain specific user data to protect user privacy and security.

However, Hoskinson pointed out that this shortcoming in the blockchain sector has led to the creation of projects like Midnight. For those unfamiliar with blockchain,Cardanosidechain uses zero-knowledge proofs (ZKP) to protect user privacy.

Midnight allows for selective information disclosure for regulatory compliance and reasonable privacy. According to the Cardano founder, this encourages investors to trade traditional securities without third-party involvement, provided that algorithmic law is accepted in their jurisdiction.

It is noteworthy that the application scenarios of Midnight are not limited to encouraging native on-chain securities trading. In a recentpostHoskinson pointed out that due to hackers stealing and extorting premium member data from the adult content site PornHub, there is a need for Midnight's intervention.

Midnight Continues to Be a Hot Topic in the Market

Meanwhile, the NIGHT token remains highly popular, consistently outperforming mainstream cryptocurrencies. According to CoinMarketCap data, the NIGHT token has risen by 22% in the past seven days, ranking first among the top 100 cryptocurrencies by market capitalization.

In addition, its trading volume continues to be impressive. Currently, based on 24-hour trading volume, it ranks as the tenth largest cryptocurrency, with a trading volume of $1.56 billions.

Although NIGHT has not been launched for long, it still holds a dominant position in the Cardano ecosystem. Hoskinsonpreviously emphasizedthat the asset's fully diluted value (FDV) is greater than the sum of all other Cardano native tokens.