Cardano Founder Targets Crypto’s ‘Three Demons’ With Midnight Network

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Bitcoinist 13h ago

Cardano Founder Targets Crypto’s ‘Three Demons’ With Midnight Network - Bitcoinist

Quick Summary:

In an appearance at Consensus 2025, Charles Hoskinson, founder of Cardano and CEO of Input Output, outlined what he considers the three existential threats—or "demons”—that must be vanquished for the crypto industry to achieve meaningful, global adoption: privacy, economic fragmentation, and what he called "Ponzonomics.

The goal, he explained, is for blockchain developers to treat Midnight the way AI startups treat OpenAI APIs—callable infrastructure, rather than a parallel ecosystem that demands ideological allegiance.

This collaborative approach, which he called “cooperative economics,” is a direct challenge to the winner-take-all mentality of many Web3 projects.“No matter how much money Microsoft spends, they don’t seem to be able to break up that Google search monopoly,” he noted.