BREAKING NEWS: Charles Shaved His Beard

Charles Hoskinson defend the work wey e do for Midnight as contribution to Cardano during one wide AMA, as e talk say projects wey connect to the network fit bring users and activity come the bigger ecosystem.

Di discussion still cover im role for Cardano governance, criticism of the Cardano Foundation and the Binance hack. For Midnight development, Hoskinson set 2028 market target for Nightstream and describe the progress for StarStream.

Midnight Place for the Cardano Ecosystem

Hoskinson begin im argument with Cardano role as platform: projects suppose build products wey go attract users, and if dem succeed, e fit create activity across the infrastructure wey dem dey use.

E list Midnight, RealFi and Pogan among the projects wey e dey work on. For im view, if dem grow well, e fit bring users and investment come Cardano instead of to draw attention commot from am.

Di comments answer criticism from some parts of the community wey talk say because e dey focus on Midnight, e mean say e dey move away from Cardano. NIGHT dey as Cardano native asset, and na one link between the two ecosystems. Hoskinson expect say as Midnight grow, e go bring more people enter Cardano, although e acknowledge say future demand and market valuations no easy to predict.

E still mention Iagon, Strike and Liqwid as e pose the question why success of project wey dem build on Cardano suppose be threat to the network.

When dem ask am whether Midnight fit later pass Cardano market capitalization, Hoskinson talk say e possible but e no predict when e fit happen. E no give any target price for NIGHT or ADA.

E also reject the suggestion say e promise say Cardano go overtake Bitcoin. According to am, im assessment of Cardano technological strengths different from any guarantee about im future market value.

Who Lead Cardano?

Questions about ADA price make Hoskinson talk about im influence for the ecosystem after dem introduce on chain governance.

E emphasize say e no dey control the Cardano Foundation, the network treasury or all the participants wey dey responsible for consensus. E no fit make decisions on behalf of every ADA holder.

Cardano governance involve different groups depending on the decision. Delegated representatives, stake pool operators and the Constitutional Committee get their own responsibilities, while ADA holders fit delegate their voting power.

Hoskinson talk say to build products na im main way to contribute. Some projects fit succeed and others fit fail, but e believe say dem fit create reason for people to use Cardano infrastructure.

E still point to work across the ecosystem, including independent node implementations, on chain governance, the eUTXO transaction model and Leios. E no provide confirmed mainnet activation date for Leios.

Call for Changes for the Cardano Foundation

Hoskinson renew im criticism of the Cardano Foundation leadership and call make the community get role for how dem go select im board.

For im view, if community participate for board selection, e fit give ADA holders more influence over the organization leadership and objectives. E still revisit past disputes wey involve the Foundation and Swiss authorities, as e take present those events as part of im argument for changes to the governance.

The Cardano founder argue say the Foundation fit work more closely with projects wey connect to the ecosystem. E identify Reeve and Veridian as products wey dem fit explore together with Midnight infrastructure.

Im examples include to bring Reeve go Midnight and to connect Veridian with the Midnight Passport concept. E present these ones as collaboration possibilities, no be confirmed integrations.

Hoskinson questions about leadership and influence pass Cardano matter. Im account of cryptocurrency policy for Washington give another perspective on how e don try push the industry interests.

Trump, ADA and Washington

Hoskinson give im account of discussions about possible role for US cryptocurrency policy and efforts to meet President Donald Trump.

According to am, plans for meeting change and e receive different explanations why the meeting no hold. E talk say e donate $1 million for planned dinner, later dem withdraw the invitation and dem refund the donation.

E still remember Trump public announcement about proposed cryptocurrency reserve wey mention ADA. Hoskinson maintain say e no know about the announcement before, and na messages later inform am.

Im criticism still touch the relationship between political access, donations and the cryptocurrency industry. E note say over the years e don talk with representatives of multiple US administrations as e dey advocate for wider adoption and regulatory framework for digital assets.

Cardano Security After the Binance Hack

The Binance security incident bring fresh attention to how crypto wallets and transaction authorization systems dey designed. Binance report say approximately $6.34 billion in digital assets dey affected when dem compromise im hot wallets on October 29.

For the initial findings, Binance describe attack wey involve stolen employee credentials and exploitation of Ethereum EIP-7702 authorization mechanism. The exchange talk say e go absorb the financial impact.

Hoskinson discuss why dem no steal ADA for the incident and e attribute am to differences for Cardano wallet and transaction design.

Cardano dey use the extended unspent transaction output model, or eUTXO. Transactions dey consume existing outputs and create new ones, while rules and scripts fit specify the conditions wey go allow person to spend one output.

The connection between that design and the outcome for ADA na Hoskinson assessment. Security still depend on how private keys take dey managed and how wallets, smart contracts and individual services take implement their own systems.

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Nightstream, StarStream and Private Computing

Hoskinson set goal for Nightstream to reach the market in 2028, as e argue say the technology need delivery timeframe instead of indefinite schedule.

Di year na target, no be confirmed launch date. E no provide release month, complete development timetable or all the conditions wey dem require for availability.

E also want make dem accelerate work on StarStream and how e go integrate into Midnight. After e mention discussions with Sebastien about more intensive work for the project, Hoskinson suggest say StarStream fit launch before Nightstream.

E describe StarStream as platform to realize Nightframes, concept wey e don link before with private, continuously operating AI agents wey dem design to carry out tasks according to user instructions. The proposed launch order still be im expectation; dem never provide confirmed StarStream release date or final feature list.

Di discussion extend to three technologies wey get different roles for private computing: zero knowledge proofs, fully homomorphic encryption and multiparty computation.

Zero knowledge proof fit show say claim true without revealing all the underlying information. Fully homomorphic encryption, or FHE, allow certain computations to run on encrypted data without first decrypting am. Multiparty computation, or MPC, allow participants to perform joint calculation without necessarily disclosing their individual inputs to one another.

Hoskinson describe the approaches as complementary. For im assessment, optimizations for the mathematics wey dem use for Nightstream fit also help FHE.

Monument Bank Tokenized Deposits

When dem ask about Monument Bank, Hoskinson report say discussions about how to bring im tokenized deposits come Midnight don make serious progress.

Tokenized deposit na digital representation of bank deposit on blockchain infrastructure. Midnight representatives don discuss initial target of £250 million for Monument deposits before.

Hoskinson still mention separate concept for regulated transactions wey e expect say e fit relevant to Monument. E no explain how e go work or when e fit dey available.

The £250 million still remain previously announced target. Hoskinson no confirm say dem don tokenize the deposits or give date for customer access, as e leave formal announcements to the Midnight Foundation.