Clockwork, a Solana-based automation tooling startup, is shutting down its operations
The founders of Clockwork have decided to step away from active development of the protocol. The project, backed by Multicoin Capital, aimed to improve regularly-occurring transactions through smart contracts on blockchains. However, the founders have determined that there is limited commercial upside in continuing to develop the protocol and have personal interests in exploring new opportunities. Nick Garfield, the founder of Clockwork, encourages users to fork the open source code and build their own versions of the project.
Key Points:
- Clockwork, a Solana-based automation tooling startup, is shutting down its operations.
- The founders have decided to step away from active development of the protocol.
- They see limited commercial upside in continuing to develop the protocol.
- The founders have personal interests in exploring new opportunities.
- Users are encouraged to fork the open source code and build their own versions of the project.
Hot Take:
Clockwork’s decision to shut down reflects the challenges faced by blockchain startups in finding sustainable business models. Despite the potential of smart contracts and blockchain technology, not all projects are able to achieve commercial success. Clockwork’s founders are now taking a different path and allowing the community to take control of the project’s future. This highlights the decentralized nature of blockchain and the importance of community involvement in its development.
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