Eran Barak joined the Cardano Blockchain engineering team to help the Cardano engineers to protect the network and show the next level potential of the Cardano Blockchain with Midnight project.
Cardano is a popular Proof-of-stake (PoS) scalable blockchain network. Input-output Hong Kong Global (IOG) is the engineering team behind the Cardano Blockchain. The Ethereum former CEO Charles Hoskinson is the founder of Cardano blockchain and CEO of IOG.
At present, a Cardano sidechain development work is in progress named “Midnight”. Midnight is a platform for global-scale applications with principles and integrity. This new Cardano sidechain will support developers, companies, governments, and individuals, Midnight utilizes a novel data protection-first programming model to allow users to operate more safely and securely.
Eran Barak is now CEO of Midnight. Before Midnight, Barak worked as COO at Symphony. Symphony is a firm that specializes in compliance-related financial services workflows. Now, in the Cardano project, Barak will contribute his talent.
Cardano founder Hoskinson shared his happiness on this news and said that Midnight will help to change the definition of data & privacy systems in the digital ecosystem and further will boost the confidence of people under the Cardano blockchain roof.
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Barak said that IOG already contributed hugely in the sector of cryptocurrency & also showed talents in blockchain tech with development works but now Midnight will bring another level of experience where Cardano ecosystem users will see better performance & better efficiency.
It is worth it to note that Cardano is not backed by any Venture capitalists (VCs) investment, so usually Cardano fails to grab media attention. The back-end team behind this crypto project always remains focussed on the real needs & development works, instead of promotional strategies.
Ada price action
Ada is a native coin of the Cardano Blockchain network and the current trade price of ADA is $0.377 & this trade price is 8.63% higher the last than 24 hours’ trade price.
Read also: CFTC enforcement action failed to create fear among Binance customers
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- Source: https://bitcoinik.com/ex-symphony-coo-joins-cardano-ada/
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