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

Indice dei contenuti

crypto.news

Altri articoli pubblicati su 30 lug 2024

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

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!