Motion Labs aims for 1 second L2 endpoint by 2024: Co-Founder
Movement Labs aims to launch a new method to quickly settle transactions on Layer 2 (L2) exchange networks by the end of 2024, Movement co-founder Rushi Manche told Cointelegraph in an interview.
Fast completion ‘post-verification' is an alternative to methods for solving Ethereum (ETH) L2 transactions – such as zero-knowledge (ZK) and fraud proofs – that have the potential to cut verification times below 1 second, Movement said in September. 2 blog post.
L2Beat's total value locked (TVL) will more than triple by 2024, to nearly $35 billion, according to L2Beat, as Ethereum's growing popularity takes a toll on the network's limited bandwidth.
Over the past 30-days, Ethereum's average transaction rate was less than 13 transactions per second (TPS), compared to rival Solana's (SOL) which was around 700 TPS, according to Chainspect.
Total value (TVL) locked on Ethereum L2s. Source: L2Beat
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Current solutions are imperfect. Fraud proofs on optimists like Arbitrum, Optimism and Base “can take seven days to finalize, and zk-rollups can be expensive,” Manche said.
With post-authentications, apps that build on M2—Movement's upcoming L2—can optionally route transactions to a network of authentications secured by the movement's native token, MOVE said. The token is slated to launch in late 2024.
Using a set of credentials, you can launch a custom package, adopt L2 security, and still post call data to Ethereum. This will allow you to have a high flow when settling on Ethereum when needed,” said Manche.
The movement's M2 network will settle transactions on the mainnet Ethereum in the same way as other optimists. The move is in collaboration with EigenDA, a data delivery service built on the EigenLayer protocol, to handle data awaiting settlement on the mainnet.
Move is among several Web3 developers — including Aptos and Suyu — and building blockchains on Move, a programming language based on Rust.
It has the potential to help developers build more secure and advanced smart contracts, Manche said. In the year It predicts that up to 20% of Web3 developers will be working with Move by the second half of 2025, up from 7.5% today.
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