Crypto never sleeps, and we as #SocialMining community @DAO Labs keep the pulse of our projects ( $AVAX , , MATIC , $TON for example) as we are proud of their innovative solutions. In this article, we will take a look at what @Movement Labs #MoveVM and @Polygon #AggLayer integration means and how they work to increase interoperability and liquidity, to create a more connected blockchain network.
What is MoveVM?
MoveVM is an open-source, chain-agnostic smart contract execution engine (1). It was first developed for Meta’s Libra (now known as Diem, a cryptocurrency project that later shut down 2) The key principles of Move are default security features, runtime and Aptos-specific formal verification, and over all, simplicity (1). For developers features such as unit testing, coverage tooling, IDE plugins, and on-chain decompilation, data model, upgradeability, cross-interaction, code storage and sponsored transactions are only some of the advantages that Move offers (1). That is why it is a great choice for dApp developers.
What is Polygon's Agglayer?
At its heart, AggLayer is simple and minimalist, relying on a pessimistic proof mechanism for safe transactions between different blockchains. (3)
Liquidity fragmentation is a key issue that creates speed bumps along the transaction highway, and the AggLayer solves this problem by aggregating liquidity across a number of blockchains.
The ZK (Zero Knowledge) EVM (Ethereum Virtual Machine) provides a wide array of chains to operate like a single chain, which makes it faster. (4)
MoveVM and Agglayer Integration
MoveVM and Agglayer integration promises to be a game-changer. With this integration, MoveVM devs and users will have the opportunity to connect to EVM-ecosystem blockchains. Polygon ecosystem on the other hand is expected to receive $160 million in Total Value Locked (TVL) through the integration. That number is impressive to say the least! SUI Move and Aptos Move ecosystems and more will be supported by Polygon and all of that will go a long way towards boosted liquidity, security and access, all the while for end-users, asset management gets simplified. It also goes without saying that lower transaction fees will have their own impact.
Investment Potential
Although a new project, Movement Labs caught the interest of investors, and already raised $38 million. Backers including Binance Labs prove the potential of MoveVM to hugely impact and transform the blockchain sector.
We the DAOLabs community believe in supporting our projects on their way to greatness through Social Mining. This DAOLabs innovation is an alternative that allows you to take part in this great paradigm shift, and earn through your own hard work and efforts towards building a community behind a project you believe in.
Disclaimer: All the information provided in this article are for informative and educational purposes, and are not intended as financial advice. Any trades bear the risk of partial or total financial losses and must be approached with utmost caution. DYOR!
Sources:
1 APTOS DEV: https://aptos.dev/en/build/smart-contracts/why-move
2 BBC https://www.bbc.com/news/technology-60156682
3 POLYGON https://polygon.technology/blog/how-the-agglayer-unlocks-a-new-age-of-blockchain-economics
4 CHAINLINK https://chain.link/education-hub/zkevm
5 BINANCE https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-movement-labs-to-bring-smart-contract-security-and-parallelization-to-ethereum-116269849788036189
6 BINANCE https://www.binance.com/en/square/post/2024-07-30-movement-labs-joins-polygon-labs-agglayer-11500143308297
7 MOVEMENT LABS https://movementlabs.xyz/learn/
8 COINDESK https://www.coindesk.com/tech/2024/04/25/movement-labs-raises-38m-for-rollup-based-on-facebooks-move-language/
9 MEDIUM https://medium.com/@DeMan01/movement-labs-secures-38-million-in-funding-backed-by-okx-and-binance-how-blockchain-innovation-e7664520ef66