About Midnight Token

I just saw Cardano Summit 2023 Video. Among all achievement that Cardano Foundation have reach, I’m interest with Midnight Token. I know that the information is not clear yet, but I have several question that really bothering me.

  1. Is Midnight is Cardano sidechain?

  2. Is Midnight need Cardano to work properly? Or Midnight can run by his own? I heard that Midnight is layer 1 too. So, is that mean Midnight is running his own chain and have nothing to do with Cardano, only better then Cardano?

  3. The video describe that Midnight is 4th gen blockchain, and I remember that Charles once said that Cardano is 3rd gen blockchain. Now, my greatest question is will IOG/CF/etc will become like Apple Inc, where they created Iphone 1, Iphone 2, 3, 4… and each newer generation we as a user must buy a new one, and throw away the old one. If this is how Charles work, I guess I need to buy IOG/CF/etc stock, Because they are the one that make money. *I’m thinking that will Charles leave Cardano like ETC? It’s just my worst scenario.

  4. If my worst scenario is true, I guess it is better to work on ETH, at least they create ETH 2.0 and it has the same value with the first ETH.

All opinion are welcome. No offense, but I guess many of us have a same question.
Thank you

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