NFT News Official TheBitTimes.com

Clockwork, a Solana-based smart contract automation project, will cease key operations by the end of October due to a lack of commercial viability . The announcement came via a series of Twitter posts on Aug. 27, where Clockwork founder Nick Garfield revealed that active development of the protocol would cease and its nodes on both devnet and mainnet would be turned off on Oct. 31. Hi all, bittersweet news today. The team and I behind @clockwork_xyz have decided to step away from active development of the protocol. 1/ — Nick (@time_composer) August 27, 2023 Garfield pointed to “simple opportunity cost” as the driving factor behind the move, acknowledging that the team sees more potential in exploring other avenues. Clockwork enables users to schedule Solana (SOL) network transactions and automate smart contracts to execute applications based on specific triggers. Despite the shutdown, Clockwork’s code will remain open-source and freely accessible, wit...

Paxful’s shutdown has left its global community heartbroken, but it has significantly impacted the Nigerian community, where it pioneered P2P crypto use. The shutdown of the peer-to-peer (P2P) cryptocurrency marketplace Paxful has left its worldwide community searching for alternatives, but it appears to have significantly affected the Nigerian crypto community.  On April 4th, Paxful declared that it would halt its operations. The reason for this decision, according to the founder and CEO Ray Youssef’s blog, was due to “key staff departures” and the regulatory environment. According to a study by Chainalysis’ 2020 Cryptocurrency Geography Report, Nigeria ranked eighth in crypto adoption and usage among 154 countries included in the study. Acceptance and usage of crypto in Nigeria were not as high until Paxful pioneered the use of peer-to-peer technology in the country, helping expand the crypto industry. A Nigerian crypto user, Emmanuel Susegh, told Cointelegraph that the shutdown o...