A Solana automation tooling project, Clockwork has decided call it a day due to limited commercial upside.

Nick Garfield, the co-founder of Clockwork, announced on X (Twitter) that the project will shut down nodes on Devnet and mainnet on Oct. 31. Garfield cited opportunity cost as a primary reason for shutting down Clockwork.

Solana’s Clockwork Shuts Down After Raising $4 Million From Investors

He wrote:

“We admittedly see limited commercial upside in continuing to develop the protocol and have a growing personal interest to explore new opportunities.”

According to the official website, Clockwork allows its users to schedule transactions and build automated, event-driven smart contracts. While the team will stop further development, they will let the code remain open-sourced on GitHub.

Garfield said:

“The beauty of crypto is that it is truly open and permissionless. If you have a vision for improving the protocol, you have our full endorsement to fork and ship it.”

According to Crunchbase, Clockwork raised $4 million from Multicoin Capital, Solana Ventures, and Asymmetric in August 2022.

Go to Source to See Full Article
Author: Harsh Notariya

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details