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Web3

Web3 presents a new paradigm for the internet, speaking to the next generation of technologies and principles, such as decentralization and user empowerment. Unlike Web2, which relies heavily on centralized platforms and intermediaries, Web3 leverages blockchain technology to create a trustless and decentralized environment.

Web3 enables users to directly interact with DApps and services without the need for third-party involvement.

Data protection and identity management​

Now that the internet is almost everywhere, data protection has become an imperative concern. Individuals and companies face heightened risks as their data is increasingly exposed online. While Web3 can empower users and organizations to regain control over their data, there are still not enough robust data protection solutions that effectively bridge the gap between Web2 and Web3.

In data protection, Midnight aims to offer its users the ability to deploy enhanced smart contracts by enabling data protection using ZK technology. Midnight’s ZKPs are based on a theoretical foundation of Universally Composable (UC Framework) – universally composable privacy, and universally composable security.

Midnight offers a range of Web3 features for users to experience seamless and secure interactions with DApps and decentralized platforms:

  • Decentralization: data is stored across multiple nodes rather than on centralized servers. This eliminates single points of failure and enhances data resilience.
  • Immutability: data processed on Midnight is immutable; impossible to alter without the consensus of the network participants. This facilitates data integrity and authenticity.
  • Encryption and privacy: Midnight leverages ZKP techniques to cryptographically secure user data. Users have control over their private keys, which enable access to their assets. By encrypting data and giving users ownership of their keys, Midnight supports strong privacy protection.
  • Selective disclosure: Midnight enables the management of specific data disclosure, where users can disclose the minimum necessary information to DApps and services, reducing the risk of data leakage.
  • Metadata protection: Midnight also protects metadata – the data about data. For example, phone calls’ metadata can be used to reveal both parties’ identities, when, and for how long the call was made. Blockchains commonly disclose transactions’ metadata to everyone with a suitable application, including good and bad actors. Midnight provides features like shielded tokens which allow for interactions to occur without metadata leakage (e.g., wallet addresses and transaction details are kept safe). As a result, DApps can give sensitive metadata the same level of protection as other confidential data.