Cardano (ADA) plans to launch new privacy-centric blockchain, top Solana NFT collection to shift to Polygon (MATIC), Snowfall Protocol (SNW) reaches 400% gain

Cardano’s parent company, Input Output Global (IOG), has announced the launch of a new privacy-focused blockchain network called Midnight. In addition, Cardano (ADA) will also release an associated coin, Dust. With zero-knowledge smart contracts, this blockchain will act as a Cardano (ADA)-based sidechain. Cardano’s (ADA) new development will enable parties to do business without providing personally identifiable information. Cardano’s (ADA) parent company has promised to keep the community updated on Midnight’s progress through 2023. Cardano (ADA), as a crypto company, is always changing and adapting to new market developments. However, Cardano (ADA) does not seem to be in a very lucrative phase as a cryptocurrency. After a monthly drop of 19%, the price of Cardano (ADA) has stabilized in the mid-$0.20 range. Analysis of the price chart and Cardano’s (ADA) failure to continue its bull run may indicate that a major collapse is on the way. Professionals predict that this pattern in Cardano (ADA) is likely to persist until 2023.

Two of the most prominent Solana non-fungible token (NFT) projects, DeGods and Y00ts, have now confirmed that they will move from the SOL ecosystem to competing networks, namely Ethereum (ETH) and Polygon (MATIC), after months with rumors about it. During the first quarter of 2023, the team plans to migrate DeGods to Ethereum and Y00ts to Polygon (MATIC). The owners of NFT pools claim that they have had trouble growing their businesses on Solana, so they are moving their holdings to Polygon (MATIC) in hopes of achieving higher profits. Polygon ( MATIC ) provided funding for the move from its partnership fund, according to a spokesperson for DeGods. Cryptography experts have warned that a move to Polygon (MATIC) could cause operational complications and security risks for DeGod. Polygon (MATIC) may soon be the target of a bridge contract exploit.

Snowfall Protocol (SNW) is a project to streamline blockchain-to-blockchain communication and lay the foundation for efficient coexistence of multiple chains in the future. Snowfall Protocol (SNW) allows users with varying degrees of technical expertise to participate in projects of interest. The Snowfall Protocol (SNW) is first ecosystem which allows tokens, both fungible and non-fungible, to be transferred between different blockchains.