The Midnight Foundation, the organization behind the privacy-enhancing blockchain Midnight Network, has teamed up with Project Catalyst, Cardano's decentralized innovation engine. This partnership aims to accelerate privacy innovation in the Web3 space. This development aims to help developers create open source dApps that apply the Midnight Network's privacy improvement tools to the real world. This initiative is therefore expected to strengthen the adoption of privacy-centric solutions while stimulating the next era of secure innovation in a decentralized world.
Midnight Foundation and Project Catalyst advance Web3-based privacy innovation through Unique Fund15 category
The Midnight Foundation and Project Catalyst partnership will accelerate Web3-based privacy innovation with an exclusive Midnight Compact dApps category in Project Catalyst's Fund15 Grand Round. The company will reportedly support the development of a variety of open source proof-of-concept projects that leverage practical use cases for Midnight's privacy technology. By leveraging Catalyst's transparent community agenda and voting framework, this category helps discover projects with the highest potential to advance scalable privacy acceptance across industries.
In particular, developers participating in each category will delve into areas such as governance, finance, health, artificial intelligence, and other emerging sectors. This category fosters innovation to balance confidentiality and transparency, from private entities that guarantee privacy across governance mechanisms to regulated financial products backed by programmable privacy. Each project must create reusable code, documentation, and a working demo consumer interface.
Power your builders with privacy by design and practical privacy solutions
In discussing the move, Catalyst general manager Chris Baird asserted that the partnership will strengthen the power of developers to create privacy-by-design solutions for real-world use. He added that this joint effort will foster a relatively collaborative network, bringing together reviewers, voters, and innovators to shape rational blockchain progress. Additionally, Project Catalyst efficiently manages voting procedures and makes it easy for the community to express their preferences. Meanwhile, the Midnight Foundation will oversee spending and funding.
Overall, this partnership demonstrates the companies' joint vision to power the broader Web3 environment with responsible innovation around privacy and a seamless experience for builders.
