OKX Ventures announces investment in the first MoveVM L2 network, Movement

ChainCatcher news, OKX Ventures announced its investment in the first MoveVM L2 network, Movement. Movement is the first integrated blockchain network designed specifically for speed and security. By building the first MoveVM L2 on Ethereum, Movement is able to achieve parallelization and formal verification at the execution layer, effectively scaling applications. Application chains and protocols launched on Movement can benefit from unique high throughput and complete smart contract security while remaining on Ethereum for optimal liquidity and security.

"We are excited to be part of the investment in Movement Labs. Movement is an EVM modular network based on the move language, leveraging the move language to optimize the security and performance bottlenecks of Solidity, combining the security and parallelism of smart contracts with the liquidity and user base of EVM to create a faster, cheaper, and more flexible and compatible L2 network. The design of its M1 and M2 products enables developers to build and deploy the modular framework for move language infrastructure, applications, and blockchains in any environment, empowering the large-scale application and development of the move language," said Dora, founder of OKX Ventures.