Prior to the $38 million Series A funding, Movement Labs had raised $3.4 million in the pre-seed round to aid the upcoming launch of its public testnet, Parthenon.
Through Facebook’s Move-based Ethereum virtual machines, Movement Labs aims to enhance smart contract security and transaction throughput within the Ethereum ecosystem.
Through Move-based Ethereum virtual machines , Movement Labs aims to enhance smart contract security and transaction throughput within the Ethereum ecosystem. The team launched M2, a Move VM-based layer-2 for Ethereum, in November 2023, which introduces an execution environment designed for more than 30,000 transactions per second .
The company also plans to introduce a cross-compatible execution layer framework called Move Stack, allowing rollup frameworks from companies like Optimism, Polygon, and Arbitrum to interact.
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