Movement Labs
23.11.2023 - 07:30:07Movement Labs announces M2, the first Move VM-based L2 for Ethereum with Celestia modular data availability
| Movement Labs 23-Nov-2023 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. NEWS RELEASE BY MOVEMENT LABS New York, New York | November 22, 2023 09:45 AM Pacific Standard Time Movement Labs has announced its plans to launch M2, the first Move Virtual Machine L2 for Ethereum, scaled with Celestia as modular DA. Starting with M2, Movement is building an ecosystem of Modular Move-Based Blockchains, with M2 made possible by Celestia’s Blobstream and the modular stack. With modularity at its core, Movement is set to release public goods and tooling to facilitate the adoption of the Move programming language across broader blockchain ecosystems. With Movement and Celestia, developers can launch secure, performant, and high-throughput Move VM rollups as easily as they do smart contracts. M2 enables builders to tap into Movement’s formal verification system to audit and maintain secure smart contract execution, while living within theEthereum ecosystem and affordable gas fees through use of Celestia, a high-throughput DA layer. “Modularity has always been a core driving principle of Movement’s thesis. We believe in a future where novel technologies like the MoveVM can be adopted while leveraging the security of Ethereum with EVM-like tooling” said Rushi Manche, Co-Founder of Movement Labs. The Architecture Of Movement The M2 mainnet is poised to become the first Ethereum Layer Two rollup that integrates Celestia for Data Availability, Snowman for Shared Sequencing, and the Move Virtual Machine for execution which is capable of 145k+ transactions per second as well as localized fee markets to mitigate gas spikes. This integration will allow developers to create high-performance, consumer-focused applications with minimal resource expenditure. Within the ecosystem a multitude of applications that will benefit from customizable app-chains are being built including games, consumer applications, and financial products that can prioritize security of consumer funds Movement’s Fractal module enables scripting from Solidity to be turned into opcodes understood by next-generation virtual machines, such as Move. This means Solidity projects can leverage Move performance and security and launch on M2 without having to write a single line of Move code. Movement Labs is growing an ecosystem of applications and infrastructure joining the Movement from multiple original virtual machines and blockchain networks. With DeFi primitives from the top Aptos and Sui ecosystems as well as established EVM projects like BenQi, GoGoPool, Vector Finance, and Ultiverse integrating into Movement’s devnet, we're expanding support for Ethereum, increasing liquidity, and enhancing accessibility for teams launching on the Movement Network. Celestia’s Blobstream & Movement Create A New Design Space Of Novel Use Cases Blobstream acts as a vital bridge between Ethereum and Celestia, ensuring a seamless, cost-effective, and high-throughput environment. Movement Labs envisions a future where the Move language is a cornerstone of Web3, offering unmatched performance and security. Movement is committed to democratizing Move and integrating it with existing blockchain ecosystems and frameworks. For builders looking to leverage formal verification and next-generation virtual machines, the Movement testnet is available to interact with. About Movement Labs Movement Labs is creating tools and infrastructure to enhance the security and efficiency of distributed networks. With a focus on smart contract safety and the scalability of blockchain technology, Movement Labs is dedicated to advancing novel use cases in decentralized economies thanks to the security and performance of the Move Programming Language. Our Open Protocols are designed to empower developers and users alike, fostering a more secure and accessible blockchain environment. Join the Movement Developers, researchers, and blockchain enthusiasts are invited to join Movement Labs on this transformative journey. Engage with the devnet, explore research papers and blog posts, build with the Movement SDK, and immerse in the Move programming language. For more information about Movement Labs and to explore the documentation, visit movementlabs.xyz Contact Details Leora Schreiber pr@marketacross.com Top of FormBottom of Form Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
