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Home»ALTCOIN NEWS»Polygon (MATIC) Introduces MoveVM Boost to Aim to Connect Entire Web3 to Ethereum
ALTCOIN NEWS

Polygon (MATIC) Introduces MoveVM Boost to Aim to Connect Entire Web3 to Ethereum

By Crypto FlexsJuly 31, 20244 Mins Read
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Polygon (MATIC) Introduces MoveVM Boost to Aim to Connect Entire Web3 to Ethereum
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  • Movement Labs is integrating with AggLayer.
  • Movement Labs’ AggLayer integration promises to invest millions of dollars into the Polygon (MATIC) multi-chain ecosystem immediately upon launch.
  • This move marks a major milestone for Polygon (MATIC) Labs’ goal of connecting the entire Web3 to Ethereum.

As blockchain developers have pointed out, one of the main obstacles to cryptocurrency adoption is the lack of interoperability between solutions, which prevents users from seamlessly switching between applications on different networks as they did in Web 2.0.

One company trying to solve these challenges is Polygon (MATIC) Labs, a team that developed Ethereum scaling solutions. Last year, the team proposed a unified blockchain architecture that uses zero-knowledge techniques to horizontally connect as many chains as possible on top of Ethereum, making it feel like a single chain.

In a development that marks a significant milestone in Polygon’s plans, Movement Labs, the team responsible for the network of Ethereum-based MoveVM chains, has revealed plans to plug into AggLayer, the interoperability solution at the core of Polygon’s aggregation chain architecture.

Movement Labs

MoveVM Chains Come to AggLayer In a move that opens an altVM “floodgate” to Polygon’s multichain ecosystem, Polygon (MATIC) Labs announced on Wednesday, July 30 that Movement Labs has chosen AggLayer to aggregate liquidity on its MoveVM Layer 2 chains. This move will also seamlessly connect these MoveVM chains with other AggLayer chains and Ethereum.

MoveVM is an open source, chain-independent smart contract execution engine based on the Move programming language. It was first developed by Meta (formerly Facebook)’s cryptocurrency project team, Libra. Designed with scalability and security in mind, altVM has since been adopted by next-generation blockchains such as Aptos and Sui.

The floodgates for altVM have officially opened, bridging the gap between the Move and EVM ecosystems.@movementlabsxyz Join the development of AggLayer to unify users and liquidity across the network, aggregated from the MoveVM L2 chain (and $160M TVL 💯). https://t.co/jPF7wyWrPv

— Polygon | Aggregation (@0xPolygon) July 30, 2024

Movement Labs is contributing to the growth of the Move ecosystem and is currently focused on building the MoveVM Layer 2 chain network on Ethereum. This will allow developers to combine the smart contract security of Move with the economic security of Ethereum. As Polygon Labs emphasizes, the integration with AggLayer “effectively bridges the gap between the Move and EVM ecosystems.”

This integration also coincides with the launch of Movement Network’s testnet, which already has $160 million in committed TVL and includes other investors including Solv, a protocol pioneering decentralized bitcoin holdings, and 280 Capital, according to a statement from Movement Labs.

Meanwhile, beyond the Movement Network and existing chains, Movement Labs’ Move Stack, which designs and supports parallel execution of MoveVM rollups, will provide developers with the option to plug into AggLayer.

Movement Labs’ AggLayer integration is expected to mark a significant milestone in Polygon’s mission to connect the entire Web3 to Ethereum.

POLYGON (MATIC) “Are we one step closer?”

Commenting on the recent Movement Network integration, Polygon (MATIC) Labs CEO Marc Boiron claimed that the company is “one step closer” to achieving its goal of bridging Web3 to Ethereum.

"The AggLayer's mission is to unify Web3 in its entirety by bringing together as many users, developers, programming languages, different smart contracts and chains, and liquidity as possible. The introduction of chains within the Movement network to the AggLayer accelerates this mission, bringing Web3 another step closer to unlimited global interoperability," Boiron posited.

Movement Labs is joining projects like Astar zkEVM, Immutable, Palm Network, and OKX’s X Layer, which are already connected or planning to connect to AggLayer to share liquidity between each other and Ethereum.

To learn more about the implications of Movement Labs’ AggLayer integration, read on.
Polygon (MATIC) Teases Agglayer Add-on, Unlocks AltVM “Floodgate”

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