Movement Labs Raises $38 Million in Series A to Bring Facebook's Move to Ethereum
Summary
Movements Move-EVM allows Move and Solidity developers to deploy code that is fully verified at runtime, preventing attack vectors like reentrancy from executing. The team calls this the "Integrated Approach", where multiple modular elements such as shared sequencing, embedded formal verification provers, alternative data availability, and Ethereum settlement can combine to power one blockchain, enhancing security and performance. "The two biggest issues in blockchain infrastructure at the moment are poor user experience and smart contract exploits," said Movement Co-Founder, Rushi Manche. The teams vision is to collaborate with other Ethereum players to scale smart contract execution for users on all networks and unify them with a shared sequencer implementation. Designed to pair smart contract security and parallelization with EVM liquidity and user bases, Movement is bringing the MoveVM to Ethereum through its flagship L2 and connected rollups with the Move Stack.