According to BlockBeats, on September 12, Movement Labs co-founder Rushi Manche said that it plans to launch a new mechanism that can quickly settle transactions on the L2 network by the end of 2024, which is expected to reduce the confirmation time of Ethereum L2 transactions to less than 1 second.
Through postconfirmation, applications built on M2 (Movement’s upcoming L2) can choose to route transactions to a network of validators secured by Movement’s native token, MOVE, scheduled to launch in late 2024.
Manche said the M2 network will settle data with the Ethereum mainnet while ensuring high throughput, and has the potential to help developers build smart contracts that are more secure and have higher throughput. He predicts that by the second half of 2025, as many as 20% of Web3 developers will work with Move, up from the current 7.5%.
Additionally, the M2 Network will also settle transactions on the mainnet like other Optimistic Rollups. Movement is working with EigenDA to process data awaiting settlement on the mainnet.