Author: Mia, ChainCatcher
Editor: Marco, ChainCatcher
Recently, the blockchain development team Movement Labs completed a $38 million Series A financing round led by Polychain Capital. With the support of investment institutions such as Hack VC, Foresight Ventures, Nomad Capital, Bankless Ventures, and OKX Ventures, it was shortlisted in the top five blockchain financing amounts in April.
This month, Binance Labs also extended an olive branch and announced its investment in Movement Labs.
According to data from the crypto asset data platform Rootdata, Movement has been ranked among the top popular projects for a week in a row.
According to data from the X platform, the number of Movement followers has reached 137,000, and the number of people in the Discord community has exceeded 76,000.
With the support of capital, the expectation that Movement will become the next "big money" is constantly fermenting, and the interaction of its test network has become one of the most discussed topics in cryptocurrencies recently.
Movement Project Overview
According to the information released by Movement Labs, it was founded in 2023 by Aptos software engineer Rushi Manche and blockchain entrepreneur Cooper Scanlon. The team is composed of former senior members from Biconomy, Sui/Mysten Labs, Fluid Finance and other teams.
When the project was launched in 2023, Movement Labs completed a $3.4 million Pre-Seed round of financing led by Varys Capital, dao5 and others, and launched the Movement SDK to provide a secure and high-performance Move environment for the blockchain ecosystem. Together with the recent $38 million financing, Movement Labs' total financing has reached $41.4 million.
Movement Labs said it is building a blockchain network based on the Move language. Movement is its first integrated blockchain network designed for speed and security, used to build and deploy Move-based infrastructure, applications and blockchains in any distributed environment.
Application chains and protocols launched on Movement are able to benefit from high throughput and full smart contract security while remaining on Ethereum for optimal liquidity and security.
Movement Labs said that it is committed to building a set of products and services based on Move, and Movement is the blockchain ecosystem created by Movement Labs, with M1 and M2 at its core. M1 pursues extremely fast, secure and deterministic transactions, while M2 serves as a bridge between Ethereum and the Move world.
In addition, Movement Labs also provides many other "tools" and "facilities" for the ecosystem, such as Movement SDK, Movement CLI, etc., to help developers create their own blockchain projects more easily.
Movement Why Move?
Move is a programming language designed by Facebook for smart contracts, which emphasizes the security and ownership of digital assets. In Move, all assets are considered "resources" and are scarce by default. They are not easily copied or accidentally deleted. Only structures that explicitly allow copying can be copied, and only specific operations can delete them.
To control access to these resources, Move introduces the concepts of accounts and modules.
A module can be a library containing functions or a program that processes assets. Only the public functions of a module can be used by other modules. The creation and modification of structures (i.e. containers for resources) are usually limited to the module in which they are defined, but can also be operated externally through public functions.
In Move, the initiator of a transaction is called a signer and must be the verified owner of a specific account. The signer has the highest authority in the system and can add resources to the account. Developers can set conditions requiring the presence of a signer to access or modify assets in the account.
In Movement's view, Move's serial number and static function call are excellent in transaction security, uniqueness and execution efficiency.
Data source: https://docs.movementlabs.xyz/
M1 and its features
M1 is the first blockchain product of the Movement ecosystem, powered by the Movement SDK. It is currently in the testnet stage and is mainly used for testing and development purposes. As a permissionless Move-based blockchain, M1 runs on the Avalanche subnet and is committed to providing users with highly secure, flexible and scalable blockchain solutions.
compatibility
Compatible with Aptos and supporting the Move language, developers can use the rich tools and resources in the Aptos ecosystem to easily build and deploy M1-based applications; compatible with Solidity, Ethereum developers can seamlessly migrate to the M1 blockchain. They can use the Solidity language and tools they are already familiar with to quickly build and deploy M1-based applications.
Scalability
Adopting the Fractal architecture and supporting vertical and horizontal expansion, M1 can be flexibly expanded and customized according to business needs to meet the growing needs of users and transaction volumes.
Efficient consensus
Avalanche's Snowman consensus mechanism is used to ensure high availability and data consistency of the blockchain network while reducing the risk of malicious attacks in the network.
Asset Liquidity
M1 acts as a bridge that connects the EVM (Ethereum Virtual Machine) and the Move ecosystem, achieving asset interoperability with Ethereum and other Move blockchains, and promoting the liquidity and usage efficiency of digital assets.
Modularity and interoperability
Supports building modular and interoperable application chains.
M2 and its features
M2 is a zk-rollup solution based on Ethereum's L1 infrastructure. It aims to improve the scalability and efficiency of the blockchain ecosystem through its Movement SDK's MoveVM and Fractal technologies. While inheriting Ethereum's extensive community and mature ecosystem, it has achieved a breakthrough of tens of thousands of TPS (transactions per second) by introducing the zk-rollup architecture.
M2 achieves close interaction with Ethereum through the native L1 client and M2 bridge smart contract, making asset transfer more convenient and reliable. By introducing Rollup technology, most transactions are executed outside the main chain, improving transaction processing efficiency and scalability.
M2 is built on M1, which is the PoS (Proof of Stake) sequencer network of M2. M1 is responsible for verifying, sorting and constructing transactions in the M2 ledger, while M1's Snowman consensus mechanism ensures the correctness and efficiency of M2 transactions. At the same time, its high throughput and low latency are also suitable for processing high transaction volume scenarios. In order to participate in the sequencer processing in the M1 network and earn fees, validators need to stake MOVE tokens.
M2 provides M1 with a user interaction interface and rich API interfaces, allowing end users to easily conduct transactions and inquiries.
At the same time, M2 also encourages full nodes to participate in the maintenance and security of the network, and contribute to the security of the network by verifying transactions and submitting zk-proofs.
It is reported that M2 aims to become the first Move Layer-2 on Ethereum, supporting Sui Move, Aptos Move and the embedded EVM interpreter MEVM. In the future, Sui, Aptos and EVM users can use M2 for efficient transaction processing. Currently, M2 is in the testnet stage for testing and development and is running as a Celestia rollup.
Move Token
Currently, MOVE is designated as a testnet token and is used as a native token in the Movement ecosystem, but only in the M1 testnet environment.
Interactive Tutorial
First, you need to add Aptos, Sui, and EVM compatible wallets. For detailed instructions on adding wallets, please visit https://docs.movementlabs.xyz/ecosystem/wallets and enter the website to claim water https://faucet.movementlabs.xyz/?network=devnet
Additionally, Movement is running a test mission on Galxe.com (https://app.galxe.com/quest/Movement/GCXUotzKdd).
At present, Movement is still in its early stages, but the strength of its behind-the-scenes investment team gives Movement unlimited possibilities to become a popular project in the future.
