Midnight's NIGHT Token Surges 159% After Major Upgrade and Hoskinson's Zcash Comparison

Midnight, a project founded by Charles Hoskinson, has made a significant comeback after experiencing a major crash. The NIGHT token has surged 159% since September, reaching its highest level in six months at $0.048. This strong recovery comes after the token collapsed by 87% due to a bridge exploit and a major network upgrade that has now gone live.

The upgrade, which removed a major barrier for developers, allows for permissionless smart contract deployment on Midnight's mainnet. This is expected to bring more applications to the network and increase demand for NIGHT, which is used for network fees and security. Midnight has also transitioned from its Devnet to an open public testnet, giving developers more room to test its data-protection features.

Hoskinson's comments on Midnight's potential have also contributed to the growing interest in the project. He mentioned that Midnight could become bigger than Zcash in private smart contracts, highlighting its use of Zero-Knowledge (ZK) proofs and other advanced technologies. Midnight's focus on privacy technology has attracted attention from those interested in areas such as finance and identity.