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1. What is Movement Labs?
Movement Labs is a blockchain MoveVM built using the Move language, a popular language used by Aptos and Sui, originating from the former Facebook team.
Developed with two parallel blockchains, M1 and M2, where M1 is a Layer 1 blockchain with high TPS (transactions per second) and lightning-fast transaction completion speed (similar to Sui and Aptos).
Additionally, in the future, when the Movement Network officially launches mainnet M1, it will also become a Decentralized Sequencer for this network.
As for M2, it is the flagship product of the Movement team, a new generation Layer 2 with extremely fast speed and the first Layer 2 running on Ethereum using the Move language.
2. Products and core technologies
2.1 M1 Blockchain
As mentioned, the M1 blockchain is one of the two core products of Movement, leveraging the Move language to provide extremely fast transaction speeds.
Furthermore, the M1 Blockchain is the first product launched by Movement Labs and built on the Movement SDK.
Currently, M1 is still in the testing phase - Devnet, a Layer 1 blockchain developed under the Move language and an Avalanche Subnet.
Moreover, as it will become the Decentralized Sequencer for the Movement Network in the future, the Sequencer will play the following key roles:
- Transaction sequencing
- Transaction execution
- Sending transactions to the DA layer
The characteristics of M1 are as follows:
- Move VM
- Compatible with Aptos
- Fractal - a tool for easy conversion between Solidity and Move languages, facilitating easier access for developers from major blockchain ecosystems like Ethereum
2.2 M2 Blockchain
M2 is a Layer 2 blockchain built on Ethereum and is an extremely important product of Movement Labs.
Currently, M2 is in the Testnet stage and carries remarkable advantages such as:
- zk-rollups
- Fractal - a translation tool to help developers easily deploy dApps with both Move and Solidity languages
- Move EVM - dApps on Sui, Aptos, and EVM blockchains can be easily built on M2
- Using the Move language, it ensures high security and speeds of up to 160,000 TPS
- Parallel execution - Parallel Execution
- Utilizing Celestia's DA layer
Additionally, Movement Labs is also developing its own set of tools to develop the Movement Network and the M2 Blockchain such as Movement Stack, Movement CLI, Fractal...
In essence, Movement Labs aims to become the hub of Move-rollups, where projects can easily build a blockchain through the available tools from Movement. This direction is somewhat similar to the previous Optimism approach.
However, Movement Labs also brings innovations and an interesting concept - the Modular Commerce Platform.
2.3 Modular commerce platform
The Modular Commerce Platform is a major ambition of Movement to build a truly comprehensive Move ecosystem, with Movement at the center of this ecosystem.
With a range of available tools, Movement Labs will help projects build their own Layer 2 with superior advantages such as:
- Optional DA layers, Movement has integrated with Avail, Celestia, Near
- Utilizing zero-knowledge proofs (zk-rollups)
- High security from the Move language
- Parallel execution
- Compatibility with EVM, Aptos, Sui, and other blockchains like BNB...
- Integration and interaction with various different blockchains
- Extremely low transaction fees
- Minimizing costs
Furthermore, Movement Labs is aiming for a future with feeless transactions on the blockchain.
Notably, Movement Labs carries truly noteworthy technologies at this time.
Although it is only in the testnet stage, Movement has already built a remarkable initial ecosystem with notable projects such as Ultiverse, Hyperlane, Pyth, Stakestone, Thala, Ethena, Omni Network, Avail...
3. Team
- Cooper Scanlon, Co-Founder: He is a Co-Founder with limited information, he and Rushi Manche have known each other since Vanderbilt University, and both decided to drop out to found Movement Labs.
- Rushi Manche, Co-Founder: He is of Indian origin and a college friend of Cooper Scanlon. However, Rushi Manche has over 7 years of experience as a software engineer. Additionally, Rushi Manche has also worked at Aptos Foundation for a short period (3 months) before branching out to establish Movement Labs. Perhaps this is also one of the reasons why Movement Labs and Aptos have a certain connection.
4. Investors
Movement Labs has completed 3 funding rounds totaling over $41 million USD.
The earliest pre-seed funding round took place in September 2023, at which time Movement raised over $3 million USD from Avalanche and some projects within the ecosystem such as Colony or Benqi.
However, in April 2024, Movement successfully completed an impressive Series A funding round worth over $38 million USD, with the participation of a host of top-tier VCs in the industry such as Binance Labs, Polychain, HackVC, Robot Ventures, Bankless, Aptos Labs...
5. Tokenomics
Updating…
6. Project Information
Twitter: https://twitter.com/movementlabsxyz
Discord: http://discord.gg/movementlabsxyz
Website: https://movementlabs.xyz/
7. Conclusion
In summary, Movement Labs has a development direction in the form of a Modular Blockchain but in an upgraded version. Movement Labs aims to create a truly innovative ecosystem, a blockchain network with integration and many innovations in the industry.
Due to its interesting points and many novelties, Movement Labs has been receiving a lot of attention and very positive evaluations recently.
Furthermore, the current project is also deploying a Devnet network for its M1 product with extremely smooth and fast usage processes.
Movement Labs has a lot of potential to become an integrated blockchain network, providing scalability and dreamlike speeds for Layer 2 solutions.
Above are the details about Movement Labs, one of the "innovative" names attracting attention in the future.
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