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.
