Movement Labs targets 1-second L2 finality by end of 2024: Co-founder
Apps will be able to settle directly on Movement’s L2 with fast finality ‘postconfirmations’ secured by stakers, the co-founder said.
Movement Labs aims to launch a new mechanism for quickly settling transactions directly on layer 2 (L2) scaling networks by the end of 2024, Rushi Manche, Movement’s co-founder, told Cointelegraph in an interview.
Fast finality ‘postconfirmations’ are an alternative to existing methods for settling Ethereum (ETH) L2 transactions — such as zero-knowledge (ZK) and fraud proofs — with the potential to cut confirmation times to less than 1 second, Movement said in a Sept. 2 blog post.
Total value locked (TVL) on L2s has more than tripled in 2024 to almost $35 billion, according to L2Beat, as Ethereum’s surging popularity strains the network’s limited bandwidth.
Apps will be able to settle directly on Movement’s L2 with fast finality ‘postconfirmations’ secured by stakers, the co-founder said.
Movement Labs aims to launch a new mechanism for quickly settling transactions directly on layer 2 (L2) scaling networks by the end of 2024, Rushi Manche, Movement’s co-founder, told Cointelegraph in an interview.Fast finality ‘postconfirmations’ are an alternative to existing methods for settling Ethereum (ETH) L2 transactions — such as zero-knowledge (ZK) and fraud proofs — with the potential to cut confirmation times to less than 1 second, Movement said in a Sept. 2 blog post. Total value locked (TVL) on L2s has more than tripled in 2024 to almost $35 billion, according to L2Beat, as Ethereum’s surging popularity strains the network’s limited bandwidth. Read more