The corporate behind the privacy-focused protocol Nocturne has introduced its closure simply 4 months after discontinuing the protocol itself.
Nocturne, which developed a privacy-oriented protocol for Ethereum, is shutting down lower than a yr after securing $6 million in funding from Bain Capital Crypto, Polychain Capital, and Vitalik Buterin.
Hey all, some powerful information. After shutting down the privateness protocol we constructed earlier final yr, we’ve determined to wind down the corporate.
The frontend https://t.co/bDN4zxs1fH will stay open for withdrawals till the tip of this month. From there we are going to convert the withdrawal…
— Nocturne (@nocturne_xyz) June 5, 2024
In an X announcement on Jun. 5, Nocturne’s group said that the applying’s web site will stay open for withdrawals till the tip of June. After the deadline, the withdrawal course of might be transformed to a self-serve format through a GitHub repository. The group didn’t present a motive for the shutdown.
“We recognize everybody who supported the product and mission over the previous yr and a half. Thanks for the assist, suggestions, and vitality. We want everybody properly sooner or later.”
Nocturne
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The closure follows Nocturne’s choice in February to close down the v1 model of the protocol and shift focus to “a brand new product within the software area.” The group cited the nascent state of the layer-2 ecosystem as a motive for the protocol’s closure, emphasizing that the transition to public layer-2 networks “should occur earlier than privateness.”
“Customers fear about value/UX first. Furthermore, the timing for privateness is dependent upon crypto’s utility. Till these main boundaries are overcome first, privateness issues stay secondary.”
Nocturne
Nocturne aimed to allow non-public accounts on the Ethereum community, permitting customers to ship and obtain cryptocurrency privately.
In October 2023, Nocturne raised $6 million in a seed spherical co-led by Bain Capital Crypto and Polychain Capital, with participation from Ethereum co-founder Vitalik Buterin and different Ethereum group members. On the time, the group supposed to make use of the funds for deploying and growing non-public accounts on Ethereum.
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