Ethereum

Value

Movement

Polygon

Infinite

Movement Labs has announced a partnership with Polygon Labs to join the AggLayer, marking a significant advancement in blockchain interoperability.
This integration will enable unified liquidity across MoveVM-based Layer-2 chains, AggLayer-connected chains, and Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>), positioning <a href="https://crypto.news/movement-labs-bridges-move-and-ethereum-with-new-layer-2-rollup/" target="_blank" data-type="link" data-id="https://crypto.news/movement-labs-bridges-move-and-ethereum-with-new-layer-2-rollup/" rel="noopener noreferrer nofollow">Movement Labs</a> as the first Move-based ecosystem to leverage this technology.
The collaboration aligns with Movement Labs’ public testnet launch, which has already garnered $160 million in committed Total Value Locked (TVL). Key contributors include Solv Protocol, committing $100 million in TVL, and both new and existing investors such as 280 Capital, adding an additional $60 million.
You might also like: <a href="https://crypto.news/up-network-and-movement-labs-partner-to-launch-web3-smartphone/" rel="noopener noreferrer nofollow"> Up Network and Movement Labs partner to launch Web3 smartphone </a>
<h2 class="wp-block-heading" id="blockchain-interoperability">Blockchain interoperability</h2>
The AggLayer has been operational since February and aims to consolidate liquidity across different blockchain networks to address the issue of fragmented liquidity.
It utilizes Celestia’s (<a href="https://crypto.news/price/celestia/" target="_blank" data-type="link" data-id="https://crypto.news/price/celestia/" rel="noopener noreferrer nofollow">TIA</a>) data availability layer to provide a cost-effective, high-throughput solution for off-chain transaction data storage while maintaining Ethereum’s security standards. This integration enables Movement Labs to establish a more efficient, secure, and <a href="https://crypto.news/tag/interoperability/" target="_blank" data-type="link" data-id="https://crypto.news/tag/interoperability/" rel="noopener noreferrer nofollow">interoperable</a> blockchain environment.
Key projects of the testnet include Echelon, Moveposition, Meridian, Avitus, BRKT, and Infinite Seas. This collaboration signifies a significant step towards Movement Labs’ mainnet launch, enhancing interoperability and fostering innovation within the blockchain space.
You might also like: <a href="https://crypto.news/money20-20-the-tokenization-industry-needs-to-address-interoperability-issues/" rel="noopener noreferrer nofollow"> Money20/20: The tokenization industry needs to address interoperability issues </a>

Movement Labs integrates with Polygon’s AggLayer, launches testnet

Table of Contents

crypto.news

Egyéb ezen a dátumon (2024. júl. 30.) megosztott cikkek

Kamala Harris Campaign Confirms Outreach to Major Crypto Firms Including Ripple, Circle, and Coin...

UK Crypto Investors Worried About Regulatory Crackdown After Coinbase $4.5M Fine

Leading Projects at the Forefront of Blockchain Gaming Revolution

Rollblock Set to Capture Large Share of $450B Industry; Toncoin (TON) and VET Reverse Gains

Solana Surpasses Ethereum in Weekly Fees for the First Time in 2024

Demystifying Fintech: A Guide to Financial Technology

Join our free newsletter for daily crypto updates!