Disclaimer: This article is for educational purposes only. The information provided does not constitute investment or trading advice. Please consult financial professionals before making any investment decisions.
Main ideas:
The Movement project is built on the Ethereum network with the aim of improving transaction speed, efficiency, and security using MoveVM and the Move programming language.
It enables developers to build versatile decentralized applications such as decentralized finance (DeFi), gaming, and supply chains.
MOVE tokens are used for storage, governance, cross-chain liquidity, and payment of transaction fees.
In December 2024, Binance held an exclusive free distribution of MOVE tokens for BNB holders.
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Project definition
Movement is a blockchain platform that acts as a layer 2 solution on the Ethereum network, aiming to improve transaction speed and efficiency, and solve scalability and security issues.
It is based on the Move programming language, developed by Meta (formerly Facebook) for the Diem/Libra project, and known for its ability to enhance application security.
The project offers innovative solutions that combine the features of Ethereum and Move to create a more efficient and interconnected ecosystem.
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Key features:
1. Interoperability:
Movement provides a unified environment between Ethereum and MoveVM, allowing applications to be built that run across multiple blockchains.
2. Security:
Move relies on formal verification to ensure smart contracts work as expected, reducing security risks.
3. Speed and finality:
The project enables transactions to be completed in seconds, compared to traditional systems that take minutes or hours.
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Mechanism of action
1.MoveVM:
Dual-compatible virtual machine, supports:
Move bytecode: Take advantage of the features of the Move programming language.
Ethereum Bytecode: To facilitate porting Ethereum-based applications to the Movement ecosystem.
2. Decentralized Shared Series (DSS):
Ensures fairness and speed of transaction processing, and prevents censorship or internal attacks.
3. Move Collections:
Customized layer 2 solutions for diverse applications such as DeFi, gaming, and supply chains.
Allows developers to customize settlement mechanisms, data availability, and other options.
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Use cases for MOVE tokens:
1. Storage: To support network security.
2. Transaction fees: Used to pay fees and execute smart contracts.
3. Governance: Gives holders the right to vote on network upgrades.
4. Cross-chain liquidity: Facilitates the transfer of assets between Ethereum and Move.
5. Move Arena: To provide liquidity and earn rewards.
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Free distribution of MOVE tokens
In December 2024, Binance organized a free distribution of MOVE tokens for BNB holders.
Eligibility Mechanism:
Storing BNB tokens in Simple Earn products.
Determine rewards via snapshots of users' balances.
Trading Launch: MOVE was listed on Binance on December 9, 2024, with trading pairs such as MOVE/USDT and MOVE/BTC.
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Closing thoughts
Movement project focuses on accelerating and developing the blockchain ecosystem, while providing innovative tools.
Like the Move language and the MoveVM machine. Thanks to its interoperability with Ethereum, the project opens up vast horizons for developers to build advanced applications.
