1. What is Movement?
Movement is an advanced blockchain network, providing a flexible platform and high interoperability for building and deploying decentralized applications (dApp) across various blockchain ecosystems. The system supports multiple blockchain environments, including Aptos, Ethereum-compatible chains (via Move-EVM), and Sui, allowing developers to maximize the rich toolset to create and operate smart contracts as well as dApps.
Specifically, Movement provides Movement SDK – a security-integrated toolset from MoveVM along with the flexibility of Solidity, allowing seamless blockchain connectivity. Developers can connect to the network via standardized RPC formats and use Movement CLI to operate and test nodes.
Movement has also announced the listing of the MOVE token on major exchanges such as OKX and Bybit on December 9, 2024.
Read more: OKX announces listing of Movement (MOVE) on spot trading
2. How Movement Works
The Movement Network is operated by three main components, ensuring superior performance, security, and interoperability:
Move Executor
Fast Finality Settlement Module
Decentralized Shared Sequencer
Each component plays a crucial role in ensuring the stable operation of blockchain networks based on the Move language.
2.1 Move Executor
Move Executor is the core component of Movement-SDK, supporting both MoveVM and EVM bytecode. With this dual compatibility, the system provides a powerful execution environment, allowing developers to leverage advanced features of the Move language while ensuring compatibility with existing Ethereum applications.
Move Executor integrates parallel execution capabilities from MoveVM with EVM interpreters, ensuring flexibility and superior scalability.
2.2 Fast Finality Settlement Module
This module is designed to provide fast transaction validation and processing. With a network of validators staking assets and validating the accuracy of transaction states, the module ensures crypto-economic security and reduces transaction latency.
Validators not only enhance security through staking but also optimize performance by ensuring quick transaction finality.
2.3 Decentralized Shared Sequencer
Decentralized Shared Sequencer is a decentralized transaction ordering mechanism, enhancing censorship resistance, fairness, and network stability.
By providing customizable transaction ordering, the Sequencer supports features such as cross-chain atomic swaps and shared liquidity within the Move Arena ecosystem. This ensures that transaction ordering is conducted fairly and efficiently across all participating chains.
3. What Products Does Movement Offer?
Movement offers two flagship products: M1 (Layer 1) and M2 (Layer 2). Both are developed based on the Move programming language, aiming to deliver superior performance, high security, and optimal interoperability for decentralized applications (dApps).
3.1 M1 – Pioneering Layer 1 Blockchain
M1 is a Layer 1 blockchain platform designed for flexibility, adaptability, and ease of use, suitable for developers looking to create groundbreaking blockchain applications.
Outstanding features of M1:
Custom Virtual Machine (VM): M1 allows for the deployment of custom virtual machines, enabling developers to build blockchain applications optimized for specific needs.
Powerful Performance: Supported by the Movement SDK with advanced Modular MoveVM technology, M1 can seamlessly interact with AvalancheGo – the decentralized consensus messaging layer of Avalanche. The system inherits robust consensus mechanisms from Avalanche with a network of 1,240 validators, ensuring high security and stability.
EVM Compatibility: Through the Fractal tool, M1 supports Ethereum Virtual Machine (EVM)-based applications while enhancing security against potential attacks.
3.2 M2 – Advanced Layer 2 Blockchain
M2 is a Layer 2 blockchain built to be compatible with the Sui Network ecosystem, operating based on the Move language and currently functioning as a Celestia Rollup.
Highlights of M2:
Supporting Diverse dApps: From games, consumer applications to financial products, M2 provides a comprehensive platform for various types of decentralized applications.
Celestia's Blobstream technology: Helps manage data efficiently and process transactions quickly, with a processing capacity of up to 145,000 transactions per second (TPS).
MoveVM: Utilizing MoveVM to enhance scalability for the Ethereum network, providing higher performance and security for applications running on this platform.
3.3 Other Products of Movement
In addition to M1 and M2, Movement is also developing several other breakthrough products such as:
Movement CLI: An interactive infrastructure that allows connection to leading platforms like Fractal, Hyperlane, and many other blockchain ecosystems.
Movement Shared Sequencer: Acts as a decentralized transaction ordering tool, providing optimal compatibility among all blockchains using the Move language as well as many other ecosystems.
Move Stack: The framework for the execution layer, compatible with leading Layer 2 solutions like Optimism, Polygon, and Arbitrum.
4. Highlights of Movement
Unified Ecosystem: Movement builds an integrated blockchain platform, seamlessly connecting various ecosystems. This allows developers to collaborate easily without technical barriers, opening up limitless creative opportunities.
Prioritizing Accessibility: Movement aims to simplify blockchain, enabling everyone, regardless of technical background, to participate. This promotes inclusion and encourages more individuals and organizations to embrace blockchain technology.
Strong Connectivity: Movement provides high interoperability, facilitating collaboration and innovation across all platforms. The project's vision is to build a tightly connected ecosystem, offering extensive reach and influence.
5. Development Team
Movement is operated by Movement Labs, a blockchain development company based in San Francisco, co-founded by Rushi Manche and Cooper Scanlon.
Rushi Manche (Co-founder & CEO):
Former software engineer at Aptos and founder of the Ensemble project (applying AI technology in teaching).
Rushi decided to drop out of Vanderbilt University to establish Movement Labs in November 2022.
Cooper Scanlon (Co-founder & CEO):
Like Rushi, Cooper also left Vanderbilt University to build Movement Labs together.
Cooper shares little personal information but plays an important role in operating and developing the project.
There are also many other notable names.
6. Investors
Movement Labs has successfully raised $41.4 million through 3 funding rounds, with participation from many prestigious investment funds:
Pre-Seed Round (09/13/2023): Raised $3.4 million, led by Borderless Capital, Blizzard Fund, dao5, and Varys Capital.
Series A Round (04/25/2024): Raised $38 million, led by Polychain Capital and other prominent investors: Aptos, OKX Ventures, Bankless Ventures, Figment Capital, Robot Ventures, etc.
Funding Round (05/01/2024): Binance Labs announced a strategic investment in Movement Labs. The goal is to extend the Move programming language from Facebook to the Ethereum ecosystem, promoting the development of this language.
7. Similar Projects
Movement is regarded as a Layer-1 blockchain or infrastructure platform, similar to:
Sui
Aptos
Both are developed using the Move programming language, providing high compatibility and performance for decentralized applications.
8. Overview of MOVE Token
8.1 Basic Information About MOVE Token
Token Name: Movement
Token Code: MOVE
Blockchain: Ethereum
Smart Contract: 0x3073f7aAA4DB83f95e9FFf17424F71D4751a3073
Listing Date: 12/09/2024
Total Supply: 10,000,000,000
Max Supply: 10,000,000,000
Circulating Supply: 2,200,000,000
8.2 MOVE Token Allocation
Ecosystem and Community (40%)
40% of the total MOVE supply is allocated to promote the development of the ecosystem, specifically:
Staking rewards: Used to reward validators on the Movement Network.
Ecosystem Development: Financial support for dApp development teams on the Movement Network. Grants will be based on project progress and achievements.
Encouraging Users and Providing Liquidity: Used to incentivize user participation in the network and support liquidity for DeFi protocols in the ecosystem.
Airdrop (10%)
10% of the MOVE tokens will be airdropped to the community through programs such as MoveDrop and other events.
This airdrop will be fully unlocked at the time of TGE and distributed via the Ethereum network.
Foundation (10%)
10% of MOVE will be reserved to serve the operations of the Movement Network Foundation, the governing and coordinating body of the network.
Early Contributors (17.5%)
17.5% of MOVE is allocated to early contributors from Movement Labs.
These individuals come from various fields: engineering, product, marketing, community development, business, strategy, etc.
Investors (22.5%)
22.5% of MOVE will be allocated for strategic investors who provided financial support and advice in the early stages of the project.
8.3 MOVE Token Release Schedule
All MOVE tokens will be fully unlocked after 5 years from the time of TGE.
8.4 Use Cases of MOVE Token
MOVE Token not only serves as an asset in the Movement ecosystem but also as a core component in ensuring security and decentralization:
Gas Fees: MOVE is used to pay for gas fees on the Movement network.
Staking: MOVE is staked with validators to ensure security and maintain the network's operations.
Governance: MOVE holders have the right to participate in governance, making decisions about network parameters and project development strategies.
8.5 Where to Buy MOVE Token?
From December 9, 2024, investors can purchase MOVE Token on major exchanges such as:
9. Assessing the Potential of the Movement Network
9.1 Strengths of Movement
Move Language: Movement uses Move, a programming language designed to ensure safety and high performance. It is also the language behind prominent blockchains like Sui and Aptos, creating trust among developers.
Supporting Layer-1 and Layer-2: Movement offers two main products, M1 (Layer-1) and M2 (Layer-2), supporting a variety of dApps from DeFi to GameFi, while ensuring scalability and multi-chain compatibility.
Compatible Technology: Movement integrates both MoveVM and EVM, making it easy for developers to transition from the Ethereum ecosystem to the Movement network.
Comprehensive Ecosystem: Movement integrates various blockchain platforms, providing a diverse ecosystem and seamless connectivity. This helps attract many developers, businesses, and DeFi projects.
Strong Backers: Movement has raised a total of $41.4 million from top funds such as Binance Labs, Polychain Capital, Aptos, OKX Ventures, etc. This not only ensures financial stability for the project but also strengthens community trust.
Low Inflation Token: MOVE Token has a relatively low inflation rate compared to many similar projects. At the time of TGE, 22% of the total supply (high) was released, reducing the inflation rate in the following five years.
9.2 Challenges Faced by Movement
Intense Competition: Movement must compete directly with major Move-based platforms like Sui and Aptos, along with other Layer-1 and Layer-2 competitors such as Ethereum, Arbitrum, and Optimism.
Execution Capability and dApp Attraction: The success of Movement largely depends on attracting developers and quality dApps. This requires a systematic and effective ecosystem development strategy.
10. Conclusion
Above, Cryptocurrency has introduced to readers what Movement is. Overall, Movement possesses many outstanding factors that help the project position itself as a potential blockchain platform, but Movement also needs to face challenges such as intense competition from major platforms, pressure to attract developers, and high expectations from the community.
If the project is effectively implemented, developing a sustainable ecosystem and building a large user community, Movement Network has the potential to become a leading blockchain platform, competing fairly with major projects like Sui, Aptos, or Ethereum Layer-2.
