Movement Network Transitions to Independent Layer1 Blockchain

According to Foresight News, The Movement has announced a transition from a sidechain architecture to an independent Layer1 blockchain. This change will support native token staking and provide backing for Move 2.0. The Movement stated that as a sidechain, it had reached its limits. As a Move-based Layer1, the network will offer a processing capacity of over 10,000 transactions per second, with transaction confirmation times of less than a second, a significant improvement over the current network's 500-600 TPS limit. The Layer1 blockchain is designed to fully leverage the performance potential of the Move Virtual Machine (MoveVM) while eliminating the centralized sequencer's single point of failure risk inherent in the sidechain model. Only unlocked MOVE tokens will be eligible for staking, meaning that locked tokens held by investors or core contributors cannot be used for staking. Additionally, Movement's Layer1 blockchain will be an early adopter of Move 2.0 language features, which include foundational developer functionalities like enumerated types and function values. Movement indicated that when the time is right, the network's state, off-chain storage, and on-chain framework will be migrated. Published smart contracts and user funds will remain unchanged, and a public testnet for developers is set to launch soon.