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A company that is changing the way the world mines bitcoin

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CoinDesk 2025-01-28 16:00:43

Movement Labs Unveils Developer Mainnet Ahead of February's Public Launch

Movement Labs Unveils Developer Mainnet Ahead of February's Public Launch

Blockchain firm Movement Labs has deployed a developer mainnet to advance its goal of bringing Facebook (META)'s Move Virtual Machine (MoveVM) to Ethereum. The developer mainnet's launch will begin the deployment of Movement's core infrastructure and allow selected partners to start implementing decentralized finance (DeFi) protocols, according to an emailed announcement on Tuesday. The release follows the initial mainnet launch of Movement in December and precedes the planned public mainnet beta release next month. Move was developed as a part of Facebook's ill-fated digital currency project Diem, which was shelved at the start of 2022 . The technology was however used to create the Sui and Aptos layer-1 networks. Movement Labs, with the help of a $38 million Series A fundinground led by Polychain Capital , is extending the programming language to an Ethereum layer 2 for the first time. Coinciding with the public mainnet's deployment, Movement will also unveil a multi-asset liquidity program to provide the foundation for decentralized finance (DeFi) applications. Read More: Movement Network's MOVE Trades at $1.3B Market Cap Amid Airdrop

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