What is Nightfall Blockchain (Ernst and Young)?

Nightfall is a series of blockchain protocols developed by major global accounting firm Ernst and Young (EY), with the latest rendition being Nightfall 3. The Nightfall blockchain is meant to operate as a hybrid network because it makes use of a semi-public architecture and is meant to be employed as a distinct version of the Ethereum network. Nightfall is characterized as being extremely fast and cheap as it is designed to help eliminate Ethereum's high gas fees. It also allows for state-of-the-art private transactions via Zero-Knowledge Proof (ZKP) cryptography.