Key takeout:
- Cardano Midnight Network has a partner relationship with Openzeppelin to improve Defi with personal information protection -oriented smart contracts.
- Openzeppelin designs a smart contract library to integrate Midnight’s data protection.
- Distributed and interoperable efforts in Cardano aim to attract institutional investment.
Cardano Midnight Network participated in well -known blockchain security and developer Openzeppelin. The alliance aims to introduce personal information protection and compliance framework for distributed finance (Defi) to improve the smart contract function of the Cardano ecosystem. This partnership will focus on improving the interoperability between midnight networks and existing blockchain applications through the new smart contract library.
Openzeppelin will lead to designing a smart contract library that meets the unique needs of Midnight Network. The library includes major ERC token standards such as ERC20, ERC721, ERC1155 and ERC3643. This tool is intended to help developers integrate Midnight’s advanced data protection into an application. Partnerships are expected to promote the growth of Defi space by providing better smart contract security and utility.
Both companies are dedicated to providing data protection and compliance at the forefront of Defi development. They can use the Etherrium virtual machine (EVM) chain to use Midnight’s privacy contracts in existing projects, which will unlock improved data protection throughout the platform.
Cardano focuses on decentralization and interoperability.
Cardano is more and more focused on improving interoperability with other blockchain networks by adding to these feelings. This change began with Chang Hard for and converted protocol governance into a distributed model, so the community could vote in the proposal. This update has become a milestone in Cardano’s journey to greater decentralization and community -led decisions.
Following the success of Chang Hard Fork, Cardano introduced Plomin Hard for this year to strengthen the distributed governance framework. Various technical developments to improve scaling further support the network of decentralization of the network. This includes continuous improvement in the integration of lace wallets, hydra and layer-2 rollups, as well as our Ouroboros Leios, Peras, Mithril Certificates and Data API services.
The partnership with Midnight Network and Openzeppelin matches a wide range of efforts to attract institutions in the Cardano network. The network is more attractive to asset managers and institutional investors while continuously improving the function, including data protection and personal information protection. For example, GrayScale Investments recently submitted ADA Exchange-Traded Funds (ETF), which sent an additional signal in the institutional space to increase Cardano’s potential.