**Movement Labs to Revolutionize Ethereum L2 Transactions by 2024**

Movement Labs is set to introduce a groundbreaking mechanism for settling transactions on Ethereum Layer 2 (L2) networks by the end of 2024, co-founder Rushi Manche revealed to Cointelegraph.

- **Fast Finality**: Their new "postconfirmations" method aims to cut transaction confirmation times to under 1 second, a significant improvement over existing methods like zero-knowledge (ZK) and fraud proofs.

- **Market Growth**: L2 networks have seen their total value locked (TVL) more than triple in 2024, reaching nearly $35 billion, as Ethereum's popularity strains its bandwidth.

- **Performance Issues**: Ethereum's average throughput is under 13 transactions per second (TPS), far behind Solana's nearly 700 TPS.

- **Innovative Solutions**: Movement's M2 network will allow applications to route transactions through a validator network secured by their native token, MOVE, launching by late 2024.

- **Partnerships**: They are collaborating with EigenDA to manage data awaiting settlement on the Ethereum mainnet.

Movement Labs is among several Web3 developers leveraging the Move programming language to create safer, higher-throughput smart contracts. Manche predicts that by late 2025, 20% of Web3 developers will use Move, up from today's 7.5%.