Midnight

Midnight is a Layer 1 blockchain designed to combine publicly verifiable transactions with confidential data handling, addressing the tension between transparency and privacy that exists in most public blockchains. It targets developers and organizations that need to build applications where sensitive information must remain private yet can still be verified by relevant parties. The project sits within both the Cardano and BNB Chain ecosystems and uses zero-knowledge proof technology to enable selective disclosure of data.

Midnight uses zero-knowledge proofs to allow applications to prove the validity of a computation or transaction without revealing the underlying data, which is the core technical mechanism distinguishing it from fully transparent chains. The NIGHT token circulates within this system, though the stored data does not specify the consensus algorithm or block time in any meaningful way, as both fields are absent or zero. What is known is that approximately 16.6 billion NIGHT tokens are in circulation out of a maximum supply of 24 billion, placing 69.2 percent of the total supply in the market at the time of measurement.

The data stored for Midnight does not include a fee stream, meaning there is no recorded information about protocol fees, who pays them, or who receives them. This absence means that fee-based measures commonly used to evaluate blockchains, such as revenue yield or fee-to-market-cap ratios, cannot be calculated or presented for this asset. What is available is token-level market data: the 30-day average trading volume relative to market capitalization stands at 1.16, and the 24-hour figure is 2.19, both reflecting how actively the token turns over relative to its market size.