On one hand, the friends committed to airdrops have not encountered a big hair like $move for a long time. On the other hand, Binance airdropped $Move to BNB financial users.
As a result, many KOLs are introducing the #Movement project. However, most of the writings are multi-faceted analyses including product performance, technical features, token economics, financing background, etc.
So what is the core advantage of this project?
➤ What is the core advantage?
What is meant by core advantage? It is something unique to a project, which other projects do not have and is difficult to imitate.
Many friends misunderstand the term 'core'. It should be 2019, during a live broadcast on CoinTalk, when I said that the technology of the IRIS project is not core. As a result, I was laughed at, saying that IRIS uses COSMOS technology and so on.
Using technology from other projects cannot be called core technology.
Projects that are keen on technological innovation are likely to continue exploring and innovating in the technological field, such as LINK, UNI...
Projects that lack technological innovation may gradually fade away and exit the market. And IRIS has recently been delisted by Binance.
This is also one of the sources of the market's logic of '炒新不炒旧' (favoring new projects over old ones), as most projects lack technological innovation and will gradually be eliminated by the market.
➤ What is Movement's core advantage?
Financing background, with disclosed funding of around $50 million. Moreover, those VCs have also invested in many other projects, so financing can only be considered a relative advantage.
As for product performance, TPS and its height, most high-speed public chains have better performance and lower gas fees than Ethereum and Bitcoin, but the difference between them does not provide any particularly different perception for end users (why I say end users, will be explained later). It can only be considered a relative advantage.
Therefore, the core advantage of Movement still lies at the technical level.
The most core technical advantage of Movement is - compatibility with EVM and MoveVM.
➤ What does EVM compatibility with MoveVM mean?
For many investors, it may be hard to understand what EVM compatibility means.
This technology is not just for narrative purposes; it is not as simple as highlighting differentiation.
❚ Ecological Hierarchy of Smart Contract Chains
Do you remember when Brother Bee mentioned the term 'end user'?
For participants in products like DeFi, GameFi, PUMP, etc., other than public chains like BTC, they are 'end users'.
And the 'direct users' of smart contract chains are smart contract developers.
I made an ecological hierarchy chart of smart contract chains.
From the chart, it can be seen that the direct users of the smart contract chain are smart contract or dAPP developers, while the direct users of smart contracts or dAPPs are participants in products like DeFi, GameFi, PUMP, etc.
If there are no smart contract developers, no dAPPs, then there should be very few users participating in the ecosystem.
❚ Developer-Friendly
Therefore, smart contract developers are crucial.
Brother Bee has expressed this viewpoint more than once: this world is not about demand changing, but about producers changing.
Producers find ways to make money, thus innovating various products and creating demand.
Bitcoin did not emerge because we wanted a peer-to-peer cash network.
It is because Satoshi Nakamoto developed Bitcoin that we realized the beauty of this decentralized value network.
Thus, there will be a prosperous ecosystem only when there are more applications, even innovative applications, on the smart contract chain.
Therefore, being developer-friendly is a very key factor.
❚ EVM
It is precisely because EVM is developer-friendly that innovations like Maker, Uniswap, CurveSwap, etc. emerged.
In fact, the market, especially retail investors, may overlook developers and EVM.
In fact, the Cosmos virtual machine has some advantages over EVM in terms of security. However, the gap between the Cosmos ecosystem and the EVM ecosystem is not small.
These chains in the MetaMask wallet are all part of the EVM ecosystem, including many Layer 2, BSC chains, and even Tron chains...
EVM development has many mature tools, environments, tutorials...
❚ MoveVM
Brother Bee knows relatively little about MoveVM. However, a developer @liu_web3 summarized it this way:
For developers, the current ranking is approximately:
Move public chain > EVM (Solidity) > Solana.
Some friends may question this; data can clarify the issue:
According to Token Terminal data, in the past year, the highest number of contract developers were on Base, followed by Polygon, BSC chain, Ethereum mainnet, Arbitrum, Tron... The top 20 are almost all EVM chains.
Of course, there’s also Aptos from the Move language family.
Note that there is no Solana, which ranks second in market capitalization among smart contract chains, as there are not many contract developers on its chain.
❚ Two Explosions of Smart Contract Chains
Brother Bee observes that there is an analysis that smart contract chains will experience at least two explosions.
• The first round is the speculation round.
A narrative with strong background or strong technology, or both, will bring about the first round of speculation.
In 2017, ETH had an ICO but really had no specific applications for large-scale participation.
In 2021, SOL, with VC investments, brought immense market value in the secondary market, but at that time, there was also no large-scale participating ecosystem.
• The second round is the ecosystem round.
In 2021, the Ethereum DeFi ecosystem exploded.
In 2024, the MEME ecosystem of Solana will explode.
The reason for the two rounds of explosion is that from technology to ecosystem, an innovative process is required.
Of course, the leading innovator in this is the smart contract developer.
In the previous data chart, there are still not many contract developers on Aptos, because the Move language is currently transitioning from technology to ecosystem.
❚ EVM Compatibility with MoveVM
Back to Movement, Movement is compatible with EVM, and EVM has a mature development environment, tools, and tutorials, as well as developers. This means that the transition process needed from technology to ecosystem could possibly be shortened on Movement.
In the next round, the Move language, including Sui, Aptos, and Movement, may form a new ecosystem explosion, and Movement will still not be absent.
Movement's compatibility with EVM provides a good development environment and foundation for both short-term and long-term development of Movement's ecosystem.
On the other hand, in terms of interoperability between EVM and MoveVM, Movement also has a relative advantage, providing a possibility to become a hub for interoperability between the Move ecosystem and the EVM ecosystem.
➤ In Conclusion
Binance airdropped Move to users, which makes me feel that the Binance I like has returned.
Binance has continuously launched several MEME coins that are popular in the market, which is obviously reasonable. However, Brother Bee prefers projects with technological innovation.
Brother Bee once defined what a good narrative is, mainly based on three factors:
First, on the demand side, it can bring a necessity. Movement, due to its compatibility with EVM and MoveVM, allows developers to easily develop ecosystem products. In this round of market, it may quickly create ecosystem heat, and in the next round, it may explode again in the Move language family.
Second, on the supply side, it has a high technical threshold. Movement has achieved compatibility between EVM and MoveVM, which clearly has technical content.
Third, in terms of sentiment, new sectors are more easily welcomed by the market. The Move language itself is a new sector, and compatibility with EVM and MoveVM makes this narrative itself a new narrative in the new sector.
In summary, compatibility with EVM and MoveVM is Movement's core competitiveness, possessing strong uniqueness and difficult-to-imitate characteristics. On one hand, as a new narrative, it has emotional influence; on the other hand, it is developer-friendly, laying a better foundation for the ecosystem.
