Cardano founder Charles Hoskinson announced the launch of Midnight, a privacy-oriented collaborative blockchain. The network has generated its genesis block, marking the project's official entry into operation. Developed by Input Output Global, Midnight is positioned as a "fourth-generation blockchain," aiming to promote the on-chaining of real-world assets through end-to-end privacy capabilities. The network employs zero-knowledge proof (ZK) technology to enable selective data disclosure, protecting user privacy while meeting compliance requirements. Architecturally, Midnight has an independent ledger, consensus mechanism, and smart contract environment, and connects to the Cardano ecosystem through interoperability design. Its hybrid ledger supports the simultaneous processing of public and private data in the same transaction, and provides the ability to conceal balances and counterparty information. Furthermore, Midnight introduces a programming language called Compact to lower the barrier for developers to build privacy applications and adopts a dual-token model to optimize network usage costs and incentive mechanisms.