Cardano has allocated 70 million ADA, equivalent to $25.7 million, from its treasury to support the development of Midnight, a privacy-centric blockchain. This decision has sparked criticism among ADA holders who believe the funds should be used to bolster Cardano's own ecosystem. Midnight, while associated with Cardano, operates as a distinct blockchain with its own token and development roadmap.
Proponents of the funding argue that the investment is in line with Cardano's broader blockchain vision, potentially enhancing its technological landscape. However, detractors emphasize the absence of direct advantages for ADA holders, questioning the strategic value of the allocation for Cardano's primary network.
Cardano Allocates $25.7M to Midnight Blockchain, Faces Backlash
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
