Midnight

Midnight is a privacy-first blockchain that aims to let developers build applications capable of handling confidential data while still allowing the broader public to verify that the underlying rules are being followed. It uses zero-knowledge proofs and selective disclosure, meaning users or organisations can choose precisely what information to reveal and to whom. The project targets developers and institutions that need data protection alongside the transparency guarantees of a public blockchain.

Midnight operates as a Layer 2 scaling network with connections to both the Cardano and BNB Chain ecosystems, though the specific consensus algorithm is not recorded in the available data. Its core mechanism relies on zero-knowledge proofs, which allow the network to confirm that a transaction or computation is valid without exposing the underlying private data. The NIGHT token functions within this system, though the precise mechanics of how it is used for fees, staking, or governance are not detailed in the stored data.

The data held on this site does not include a fee revenue stream for Midnight, so there is no recorded information about who pays fees, who receives them, or what the protocol retains. This means fee-based measures that would normally appear on this site are not applicable here. What is recorded is that approximately 69.2% of the maximum supply of 24 billion NIGHT tokens is currently in circulation, with roughly 44.5% of the maximum supply still to be issued, representing a dilution overhang that would increase the circulating supply if and when those tokens are released.