Movement Labs Plans to Launch M2 Mechanism for Fast Settlement of Transactions on L2 by Year-End
Rushi Manche, co-founder of Movement Labs, said that it plans to introduce a new mechanism to quickly settle transactions on the L2 network by the end of 2024, which is expected to reduce the confirmation time for ethereum L2 transactions to less than one second.
With postconfirmation, applications built on M2 (Movement's upcoming L2) can choose to route transactions to a network of validators protected by Movement's native token, MOVE. The token is scheduled to launch in late 2024.
Manche noted that the M2 network will settle data with the main Ethernet network while guaranteeing high throughput, and has the potential to help developers build more secure, higher throughput smart contracts. He predicts that by the second half of 2025, as many as 20 percent of Web3 developers will be working with Move, up from 7.5 percent today.
Additionally, the M2 network will settle transactions on the mainnet like other Optimistic Rollups.Movement is working with EigenDA to process the data waiting to be settled on the mainnet. (Cointelegraph)
Translated with DeepL.com (free version)
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