Blockchain/Tech
Movement's Mainnet Beta Launch Brings Facebook's MoveVM Closer to Ethereum
The public beta launch of Movement's mainnet features over $233 million in liquidity, advancing the Movement Virtual Machine's deployment on Ethereum.
1 min read
Overview
Movement has launched the public beta of its mainnet, moving closer to deploying the Movement Virtual Machine (MoveVM) on Ethereum.
- The mainnet will go live with over $233 million in liquidity, comprised of BTC, ETH, and MOVEs.
Key Points
- This launch continues the progress initiated by Movement Labs; it allows for smart contract deployment on the network for general use.
- MoveVM was initially developed by Facebook as part of its plan to introduce a digital currency, a project which was canceled in early 2022.
- Following this, the technology has been leveraged to develop layer-1 networks like Sui and Aptos, with further extensions to create an Ethereum layer 2.
Further Reading
- Movement Labs Unveils Developer Mainnet Ahead of February’s Public Launch
- Ethereum Developers Postpone Pectra Upgrade Following Buggy Tests
