TL;DR
- Movement Network has launched its Public Mainnet Beta, allowing permissionless app deployment and user onboarding.
- The network is based on Move and uses the Move Virtual Machine (MoveVM) along with BlockSTM, enabling a performance of over 160,000 transactions per second.
- Movement has implemented a bridge between its network and Ethereum, facilitating the exchange of MOVE and other assets, with certain temporary restrictions.
Movement Network has officially launched the Public Mainnet Beta. This opens the doors to permissionless app deployment and user onboarding, allowing anyone to build on the network without restrictions. The launch completes the initial phases of the network, although the development team will continue to add new features over time.
The network is based on Move, a programming language developed by Meta, and relies on the security and scalability of Ethereum. It uses the Move Virtual Machine (MoveVM), which, together with BlockSTM, offers a theoretical capacity of over 160,000 transactions per second, making it one of the fastest platforms of its kind.
An important aspect of Movement’s infrastructure is its settlement model. Unlike other Move-based chains, this one ensures transactions by anchoring them to Ethereum. This process is complemented by a fast confirmation mechanism that guarantees transactions are validated in a matter of seconds. Additionally, in the future, a decentralized sequencer will be implemented to order transactions more efficiently.
The network’s native token, MOVE, functions as gas for transactions, and its implementation is crucial for the network’s operation. Developers can now deploy smart contracts without prior approval, although certain limitations will be applied to prevent abuse and ensure system stability.
Current Movement Capabilities
Regarding connectivity with other networks, Movement has activated a bridge between its network and Ethereum. This bridge allows swapping MOVE and other assets such as USDT, USDC, WETH, and WBTC. However, MOVE transfers back to Ethereum will be temporarily restricted, with a waiting period of up to three days for certain assets.
The Movement ecosystem already includes a variety of apps, allowing everything from NFT purchases to MOVE staking, as well as lending and the creation of AI agents. As the network grows, more apps are expected to be deployed, expanding the tools available for users.
Lastly, the Cornucopia program will inject over $200 million in liquidity, which will help Movement establish itself as a strong and well-capitalized platform.
