The Rollup Charles Hoskinson: I Solved Privacy (How I Did It…)
Apr 16, 2026
Charles Hoskinson, co-founder of Cardano and founder of Midnight, discusses a new privacy-focused meta-chain for easier multi-asset payments and account abstraction. He covers Midnight’s Web 2.5 positioning, token design, AI-driven security risks, post-quantum readiness, and urgent Bitcoin quantum-threat scenarios including BIP 361 and mitigation trade-offs.
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Partner Chain Model Avoids Layer Two Parasitism
- Midnight uses a partner chain model with Cardano to avoid L2 parasitism: Cardano supplies security and operators, Midnight adds privacy and revenue opportunities.
- The partner-chain can drift off or stay, enabling mutual, non-parasitic cooperation.
Airdrop Through Cardano Delivered Massive Liquidity
- Midnight distributed tokens via Cardano native asset to 33.6 million eligible accounts with no VCs and high redemption rates.
- The native asset listing made rapid liquidity possible, hitting $9B trading volume in one day at peak.
Mix Purism And Pragmatism To Win Adoption
- Balance purism, pragmatism, and aspiration when designing crypto products; pick trade-offs aligned with product goals.
- Combine proven technologies (e.g., Rust substrate, Cardano security) with pragmatic UX choices to attract partners like regulated banks.