Movement is a network of modular blockchains. The project team creates open-source tools, platforms, and protocols to advance the Move programming language.
Before diving into the main products developed by Movement, let’s first understand what the Move programming language is and what a modular blockchain entails.
In 2019, Facebook (now META) announced the launch of a cryptocurrency called Libra (later renamed Diem). The Diem blockchain was set to use Move, a new programming language based on Rust, developed by Meta to prevent the creation of bugs and vulnerable smart contracts, which is a significant issue for decentralized platforms.
Move is a secure, reliable, and efficient open-source programming language designed by Facebook’s Libra Association for smart contracts, with a strong emphasis on ownership and security. Thanks to its robust ownership model and explicit resources, Move simplifies the development of secure smart contracts for common blockchain tasks such as asset ownership transfer, minting, and burning.
Although Meta’s plans to use virtual currency were eventually scrapped due to regulatory pressure, some employees left the company and founded well-known blockchain companies based on Move, such as Aptos and SUI.
Below are the key features and documentation for a comprehensive overview of the Move programming language (for those who want a more detailed understanding).
Key Features of the MOVE Programming Language
The MOVE programming language includes several key features that make it ideal for developing smart contracts. These features include:
Static Typing MOVE is a statically typed language, meaning that the data type of each variable is known at compile time. Statically typed languages are more secure than dynamically typed ones as they prevent errors related to data types.
Resource Types MOVE includes resource types, which are data types that represent resources owned by a specific account. Resource types ensure that resources cannot be duplicated or shared, preventing double-spending attacks.
Module Isolation MOVE enforces module isolation, ensuring that contracts do not interact with other contracts on the network. Module isolation prevents reentrancy attacks, which are a common vulnerability in smart contracts.
Built-in Libra Support MOVE has built-in support for the Libra blockchain, making it easy to create smart contracts that interact with the blockchain.
MOVE Documentation The MOVE documentation provides a comprehensive overview of the language, including syntax, semantics, and examples.
https://github.com/move-language/move
https://github.com/MystenLabs/awesome-move
https://move-language.github.io/move/
Modular blockchains represent a new paradigm in blockchain design. Instead of a single blockchain doing everything, modular blockchains specialize and optimize for performing specific functions. This specialization provides a breakthrough in scalability, flexibility, and interoperability, allowing developers to build blockchain applications for mass adoption.
First, it’s essential to understand the three primary functions of a blockchain:
Consensus: How network nodes agree on the execution of transactions.
Execution: The interpretation of these transactions.
Data Availability: The ability for nodes to download transaction data.
A blockchain that performs all three functions simultaneously is called monolithic. Notably, the vast majority of blockchains today are monolithic. This approach creates limitations when facing the scalability trilemma:
The trilemma states that a blockchain can only have two of the three properties: scalability, decentralization, and security.
Blockchain developers have long struggled with optimization. Many architectures have been tried, aiming to place all users on a single chain or a tightly connected group of chains forming a unified network. This approach proved limited and complicated when scaling the system for a large number of users.
Progress in solving this problem has been made through sharding and Layer 2 (L2) solutions. The concept of breaking the blockchain into separate components led to the idea that one blockchain doesn’t have to do everything itself.
Thus, a modular blockchain is a blockchain that specializes in only a few functions rather than all of them. The principle of modular design underlies modular blockchains, representing the concept of dividing a system into smaller parts. These parts can be independently created and integrated with each other — like LEGO bricks.
By assigning specific functions to different layers, modular blockchains can create more scalable and customizable systems without compromising decentralization or security.
To simplify, think of well-known L2 scaling solutions for Ethereum like Arbitrum, Starknet, Scroll, and ZkSync. These can be categorized as modular blockchains specializing in transaction processing (execution). Consensus and data availability are managed by the parent chain (Ethereum). Ethereum can still handle transactions independently because it was initially designed as a monolithic blockchain, distinguishing it from modern modular blockchain representatives.
For example, Celestia, the first modular blockchain, focuses on consensus and data availability. Transaction execution will be managed by rollups integrated with Celestia. This approach allows Celestia to achieve scalability, flexibility, and interoperability properties unmatched by other blockchains.
Movement Labs is the creator of Movement SDK. Movement SDK is a modular framework for creating and deploying infrastructure, applications, and blockchains based on Move in any distributed environment. The team creates a suite of products and services that enable non-Move protocols to leverage the capabilities of the Move programming language without writing a single line of code in Move.
The first major tool of Movement SDK is M1, a unique modular, horizontally scalable, and vertically oriented blockchain designed to combine performance and availability. M1 natively runs its ecosystem, liquidity, validator set, and traditional EVM tools using Avalanche consensus.
The second flagship product of the company will be M2. M2 is the first Move language-based Layer 2 (L2) virtual machine for Ethereum. M2 allows builders to connect to Movement’s formal verification system for auditing and ensuring secure smart contract execution while operating within the Ethereum ecosystem and accessing affordable gas fees by using Celestia, a high-performance DA (Data Availability) layer. This integration will enable developers to create high-performance, consumer-oriented applications with minimal resource costs. The Move virtual machine will be capable of executing more than 145,000 transactions per second.
The operation scheme of M2 is as follows:
Movement Labs, the company behind the Movement project, has conducted two investment rounds:
pre-seed round in September 2023, raising $3.4 million.
Series A round in April 2024, raising $38 million.
There are over 40 investors involved, including funds and angel investors of various levels. Here are some of the most notable ones:
Tier 0* — A narrow category of the top investment funds in the crypto space, possessing significant influence and financial capabilities. These funds also provide substantial support to their portfolio projects and do not pose economic or reputational risks. Currently, there are approximately six funds classified as Tier 0.*
Polychain Capital (Tier 0 (lead)): The lead investor of the Series A round and one of the top investment funds in the crypto space, with significant influence and financial capabilities. The fund has invested in and nurtured projects like Solana, Avalanche, Uniswap, Arbitrum….
dao5:(Tier 4) A relatively new but rapidly growing investment fund launched by Tekin Salimi, a former General Partner at Polychain. They have invested in EigenLayer, Berachain, Polyhedra, and others. One of the lead investors in the pre-seed round.
OKX Ventures:(Tier 2) The venture arm of one of the best cryptocurrency exchanges in the world.
Archetype Ventures:(Tier 3) Though recently launched, they are already one of the most progressive funds in the crypto space. This is not surprising, given the fund is created by highly experienced and renowned specialists Katherine Wu (Twitter Score — 776) and Ash Egan (Twitter Score — 356).
Aptos Foundation: (Tier 2) — The fund from the team behind Aptos, a scalable Layer 1 (L1) blockchain written in the Move language. Market cap of $4 billion (at the time of writing), ranked in the TOP-30 coins on CMC.
Robot Ventures: (Tier 3) — invested in Lido, Nansen, Compound, etc.
Angel Investors:
Sandeep Nailwal — Founder of Polygon
Calvin Liu — Chief Strategy Officer at EigenLabs
Stani Kulechov — Co-Founder of AAVE
Santiago R. Santos — Partner at ParaFi Capital
Meltem Demirors — Renowned crypto consultant and advocate; served as Director of Development at Digital Currency Group until 2018.
And the cherry on top is the news that Binance Labs invested in the project outside of the round, with the investment amount undisclosed. Binance Labs is one of the top investment incubators in the crypto industry.
As a result, we have a strong set of partners comprising very well-known and influential representatives of the web3 space.
Movement Labs was founded by Vanderbilt University graduates, 21-year-old Rushi Manche and 24-year-old Cooper Scanlon . At such a young age, it is challenging to speak of any significant career achievements of the project founders. According to Manche, he experimented with crypto in college, primarily within the Cosmos blockchain ecosystem. According to Cooper, he created a yield aggregator for Aptos using Move.
I am glad there are so many young talented programmers with ambitious ideas in the world, but it’s natural to doubt the competence of such a young team.
Will they be able to see the project through to the end? Will they be able to establish all business processes? Do they have the strength, confidence, and knowledge? They haven’t launched projects together before, and they are based in the USA, which is not the most crypto-friendly legal environment. Investors had similar doubts, as illustrated by a quote from Manche in an interview: “When we were just starting out, there was a lot of ‘Who are these kids? What are they doing? How can we trust them?’” said Manche, who had just reached the legal drinking age.
Quality partners are a crucial component for the project, helping with development through their advice, experience, and contacts. In our case, the project has no issues with partners, and I think they will be able to compensate for the lack of experience among such a young team of developers.
The project’s Discord has nearly 7,000 members, with quite active communication. Telegram also has 7,000 members, but the activity on Discord is more pronounced. The project’s Twitter boasts 214,000 followers, with a Twitter score of 96, which is a good indicator.
All posts are made in a consistent color scheme and corporate style. The project is followed by a significant number of representatives from the crypto industry, including private investors, investment funds, major market makers, and well-known influencers.
Additionally, Movement Labs has launched programs for validators, developers, and a testnet (which offers a potential airdrop). The MOVE token for the project is confirmed. More detailed information about the application for participation in the programs can be found here: https://linktr.ee/movementlabsxyz.
At this stage of the project’s development, the project is doing well with social media.
Although the market has shown significant interest in modular networks, the reality is that these networks lack the extensive real-world testing and verification required for mature networks. The development of modular blockchains is still in its infancy and they are more complex to develop — unlike monolithic blockchains, modular blockchains require the ability to work across multiple layers simultaneously. Movement could be the project that helps developers and users simplify their interactions with blockchains and accelerate the adoption of modular blockchains. Developers will no longer need to work across different network layers, thanks to the Movement SDK, and the Move programming language itself is specifically designed to prevent the creation of bugs and vulnerable smart contracts, which have been a significant issue for decentralized platforms.
Users will be able to enjoy the benefits of alternative virtual machines without needing to use bridges to transfer their assets, managing multiple wallets, and leaving established networks they are accustomed to.
I think that Movement is a truly interesting ecosystem product that can elevate modular blockchains to a new level of development and adoption.