The public mainnet of Movement Labs has been officially launched in beta phase, marking a significant step towards the integration of the Movement Virtual Machine (MoveVM) on Ethereum.
This development represents an important advancement for the blockchain sector, thanks to the increasingly widespread adoption of Move technology.
Summary
A new chapter for MoveVM on Ethereum
MoveVM, originally developed by Facebook to create its own digital currency, found new life after the discontinuation of the project in 2022.
Technology has been used as a foundation for layer-1 networks like Sui and Aptos, while Movement Labs has chosen to adapt it to create a layer 2 solution on Ethereum.
With the launch of the mainnet beta, developers can now build and deploy smart contracts, accessing the Movement network for the first time.
The initiative was announced by the Movement Network Foundation via email on Monday, indicating a significant step forward in the growth of the Move ecosystem.
The support of the Ethereum community
The launch of the mainnet beta was accompanied by a collection of over 233 million dollars in liquidity, composed of Bitcoin (BTC), Ethereum (ETH), and the native asset MOVE. This capital was raised through the Cornucopia di Movement program, demonstrating the strong interest of the community and investors in the project.
These funds provide essential support for the network, ensuring sufficient liquidity to attract developers, users, and new decentralized applications (dApp).
The advantages of the Move Virtual Machine (MoveVM)
The adoption of the Move Virtual Machine on Ethereum offers numerous advantages. The Move language has been designed to ensure greater security and scalability, addressing some of the issues related to existing smart contracts.
Unlike other blockchain programming languages, Move sets stricter rules for managing digital assets, reducing the risks of vulnerabilities and hacking.
This feature is particularly important for Ethereum, where security is a top priority.
The integration with Ethereum and the future of MoveVM
The objective of Movement Labs is to integrate MoveVM as layer 2 on Ethereum, bringing the advantages of Move technology into the ecosystem of the second largest blockchain in the world.
This will allow Ethereum developers to work with a new level of security and efficiency, improving the quality of decentralized applications.
The implementation process is not yet complete, but the launch of the mainnet beta marks a fundamental milestone for the future of the Move Virtual Machine.
The debut of the Movement mainnet beta marks an important evolution in the blockchain landscape, paving the way for the full integration of MoveVM on Ethereum.
With over 233 million dollars raised, advanced technology, and community support, the Movement Labs project positions itself as one of the most promising in the sector.
The adoption of Move to improve the scalability and security of smart contracts could represent a turning point for Ethereum, making this collaboration one of the most anticipated in the world of cryptocurrencies.
