1ļøā£Cardano has just had a "comprehensive overhaul", focusing on implementing an on-chain governance mechanism. The long-term goal is to build a decentralized governance system, where the community can decide on its own budget, development roadmap and upgrades.
2ļøā£ Blockchain has gone through 3 generations:
- Generation 1 (Bitcoin): Eliminates intermediaries, helping users control their own assets without banks
- Generation 2 (Ethereum): Introduces smart contracts and programmability, bringing Dapps
- Generation 3: Focuses on improving transaction speed, connectivity and flexibility in governance with many large projects such as Solana, Cardano, Aptos,...
3ļøā£ Current Problems of Blockchain: Although blockchain is very transparent, it lacks privacy and identity, which businesses always crave to deploy applications such as RWA, finance,... Because no one wants all their business details to be "exposed" publicly on the blockchain.
4ļøā£ Generation Four: To connect the real world and Web3, the fourth generation of blockchain needs to ensure the following factors:
ā Privacy in smart contracts.
ā Decentralized identity.
ā Interoperability between blockchains and transparency.
ā Decentralized governance with community participation in decision making.
šIntroducing Midnight: Midnight was created to solve the āhard problemā of fourth-generation blockchain, supporting private smart contracts and ensuring cross-platform compatibility. Midnight will not raise capital from VCs but will apply a new token distribution mechanism called Glacier Drop, distributing to over 135 million wallets on major blockchains.
šMidnight's Goal: Midnight will apply a multi-consensus mechanism to create a more powerful decentralized system, while still ensuring privacy and identity ownership, thereby paving the way for RWAs, enterprises and large financial institutions to confidently enter the blockchain.
š The Future of Blockchain: The fourth generation will be the final stage needed for blockchain to become complete. After that, everything is just improvements for each specific case.
