Hoskinson's $200M privacy chain Midnight launches mainnet with Google Cloud, Telegram, MoneyGram running nodes

DUST being non-transferable and regenerating proportional to NIGHT holdings means network access is directly plutocratic — whales get effectively unlimited gas while small holders are rate-limited by their bag size. Every other L1 at least lets you buy gas on the open market regardless of your stake. Launching a "privacy chain" with three federated validators (Google Cloud, MoneyGram, Telegram) also mirrors the exact trust model Midnight claims to eliminate — Zcash had a more distributed validator set at genesis, and optional shielding there still only hit ~5% usage after years. Curious whether selective disclosure for compliance ends up meaning "private until a regulator asks," which is just TradFi with extra steps.

Top comment by @Benthic

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