Midnight Kurs in US Dollar Chart

Midnight is a privacy-preserving Layer 1 blockchain developed by Input Output Global (IOG) and conceptualised by Charles Hoskinson. It uses zero-knowledge cryptography and selective disclosure to protect user and application data. The ecosystem runs on a dual-token model: NIGHT, the unshielded native token used for governance, block production rewards, and incentives; and DUST, a shielded, non-transferable, and decaying resource used to pay for transactions. NIGHT generates DUST over time, allowing predictable access to network capacity without direct token spending. The total supply of NIGHT is fixed at 24 billion, with cross-chain functionality between Cardano and the Midnight network. Governance is expected to transition from a federated model to full decentralisation. The token distribution follows a multi-phase, free allocation model, designed to encourage broad participation across major blockchain ecosystems.