#night @MidnightNetwork $NIGHT
What’s interesting about Midnight is that it’s dealing with a very real issue: making blockchain usable by enterprises in a manner that keeps sensitive information private. Public chains were never designed with selective disclosure in mind. Companies want their internal logic, financial information, and business activity to remain private. Privacy at the core of a system earns respect.
The issue with privacy, however, is that the more a system tries to hide, the less there is for others to inspect in real-time. Inspectability has been the trust model of blockchain systems thus far: communities and validators rely on inspectability to quickly identify bugs, exploits, or potential malicious activity. By reducing inspectability, we’re putting trust in the hands of insiders: operators, auditors, and developers.
Zero-knowledge proofs may prove correctness, but trust can’t be built solely on zero-knowledge proofs. Trust requires oversight, scrutiny, and detection of issues within a network. Midnight may prove to be usable by enterprises, but the true test of a system’s worth will come when the spotlight no longer shines on it, scrutiny of the system is minimal, and the network faces its first true test.