Charles Hoskinson, founder of the Cardano and Midnight blockchains, said crypto has spent more than a decade solving the wrong problems and failing to break into the real-world economy.

“The question I’ve been asking for eight years is: why didn’t the revolution happen?” Hoskinson asked. His answer is Midnight, a project in which he invested roughly $200 million. The network went live on Monday, Midnight told CoinDesk.

Midnight is a blockchain built within the Cardano ecosystem, designed to fix what Hoskinson described as crypto’s core design flaws by making it private, simple and safer to use.

Rather than competing with networks like Bitcoin or Ethereum, it sits alongside them, allowing users and businesses to use crypto without…