Movement Labs’ integration with Polygon’s AggLayer set to unify liquidity across Ethereum and Move-based L2 chains.
Movement’s public testnet Parthenon secures $160M TVL, signaling strong market trust and potential.
Move programming language expands from Aptos and Sui to Ethereum via Movement Labs’ new Layer 2 solution
San Francisco-based blockchain development company Movement Labs recently announced its integration with Polygon Labs’ AggLayer, marking a crucial step towards enhancing blockchain interoperability. This collaboration is aligned with the launch of Movement’s public testnet, which has attracted substantial industry interest.
Big News: Movement is connecting to AggLayer!We're collabing with @0xPolygon to unify liquidity across: MoveVM-based L2s All AggLayer chains EthereumMovement is the first next-gen ecosystem on AggLayer, bridging the gap between the Move and EVM worlds. pic.twitter.com/jdwriA7fRi
— Movement (@movementlabsxyz) July 30, 2024
AggLayer is an interoperability layer connecting various blockchain networks, enabling unified liquidity and bolstering security across these networks. It leverages ZK-based security proofs that settle back on the Ethereum network, thereby securing multiple chains simultaneously. This integration allows Ethereum assets to be transferred or converted securely across different chains without compromising the security inherent to the Ethereum network.
Expansion of the Move Ecosystem
Movement Labs is pioneering the adoption of the Move programming language within the Ethereum ecosystem through its Layer 2 solution, dubbed “M2.” This initiative aims to extend Move’s utility beyond its current Aptos and Sui Layer 1 blockchain applications. The Move programming language, originally developed by a team from Meta’s discontinued Diem project, offers enhanced security and performance benefits, which Movement Labs is now making accessible to Ethereum developers.
By deploying Solidity contracts on Move-based chains without requiring any code modifications, Movement Labs facilitates a seamless transition for developers between the Ethereum and Move ecosystems. This approach not only simplifies the development process but also ensures that projects are safeguarded against prevalent vulnerabilities while still leveraging the economic scale of the Ethereum network.
Strengthening the Web3 Infrastructure
The public testnet of Movement Labs, named Parthenon, has demonstrated significant potential with $160 million in total value locked (TVL) committed ahead of its mainnet launch. Key contributors to this TVL include Solv Protocol and various Movement Labs investors, highlighting the robust support and confidence in the project’s future.
The testnet currently hosts six Movement Labs Partners with Polygon’s AggLayer, Testnet Secures $160M TVL appeared first on Crypto News Land.
