Hoskinson talked about the blockchain and privacy while focusing on the part that the Midnight chain played in resolving a fundamental problem in the cryptocurrency business. This was done while taking into account the fact that smart contracts are confidential. When asked about it during an interview on December 7th, conducted by Cory Costa, the founder of Cardano shared his thoughts on the matter (a YouTuber).

Charles Hoskinson has suggested that the launch of confidential smart contracts should take place at midnight.

Hoskinson stated that, from a regulatory point of view, the blockchain should not even be used, and this is something that should be avoided at all costs. He defended his viewpoint by arguing that when someone is involved in a firm that is regulated, there are certain privacy requirements that are put in place. This is the case because, as he went on to explain, a regulated company need the personal information of its customers in order to comply with the privacy law, but at the same time it guarantees those customers that their information will not be shared with other parties.

After that, he focused on the blockchain configuration. According to him, the information in question would be made public if someone attempted to do so on a blockchain. This would be the case regardless of who made the attempt. He was of the opinion that the problem might be solved by formulating a confidentiality agenda, and he used Midnight as an appropriate illustration of this. He revealed that in that circumstance, a confidentiality agenda and private smart contracts would be beneficial rather than a privacy coin, and that these would be more appropriate solutions.

Aside from that, he spoke on Midnight and disclosed that the most recent blockchain project provides a framework for regulated value transactions in addition to an agenda via which individuals can design private smart contracts. After that, Hoskinson claimed that it became a great deal more challenging for them to carry out their duties on Midnight. According to him, in spite of the fact that all of the problems with the platform were present, it was necessary to simultaneously develop an additional level of capabilities.

According to his explanation, the function of each layer was to both address the issue of privacy and facilitate its development into the subsequent level, which was known as confidentiality. The founder of Cardano continued by explaining that, in addition to their operations linked to the privacy-focused blockchain project Midnight, the firm has also been focusing its attention to cope with a large number of other concerns at the same time.

In the past, it was stated that Cardano was getting ready to reactivate its activities covering the testnet version of the Djed stablecoin. On the company's proof-of-stake (PoS) blockchain, the appropriate version is scheduled to be released in January of the following year, as was previously stated. It is now including some of the most recent features in its tests, such as taking into consideration activity history and compatibility with the Vasil hard fork, among other things.

The Cardano company has also been noting a gradual increase in the number of smart contracts using the Plutus platform. Over the course of this year, the total number of the respective token has increased by more than 300 percent. According to the data that is exclusively ours, as of the 7th of December, it has already reached 4,313 scripts.

Cardano's development is speeding up, yet the ADA price is falling.

Input Output Global (IOG), the organization that was responsible for the development of Cardano, has another strategy that is connected to the construction of the earliest index for blockchain decentralization throughout the entire world. The blockchain underlying the platform has recently demonstrated a great deal of progress. In this regard, it had the highest amount of development activity across all of the networks during the month of November this year.

On the other hand, as was seen not too long ago, the on-chain activity of ADA, which is Cardano's native token, has significantly increased, and according to the Age Consumed indicator, more than 107 billion tokens were transferred on the 7th of December. In this particular scenario, numerous analysts anticipate a high degree of volatility.