The Protocol: Movement Labs Develops Dev Mainnet

Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Ben Schiller, CoinDesk’s Opinion and Features editor.

In this issue:

Movement Labs rolls out dev mainnet
Cardano hard forks to decentralized governance
SSV DAO unveils SSC 2.0
Musk pushes blockchain in government

Network News

MOVEMENT LABS ROLLS OUT DEVNET: Blockchain firm Movement Labs has deployed a developer mainnet to advance its goal of bringing Facebook (META)’s Move Virtual Machine (MoveVM) to Ethereum. The developer mainnet’s launch will begin the deployment of Movement’s core infrastructure and allow selected partners to start implementing decentralized finance (DeFi) protocols, according to an emailed announcement on Tuesday. The release follows the initial mainnet launch of Movement in December and precedes the planned public mainnet beta release next month. Move was developed as a part of Facebook’s ill-fated digital currency project Diem, which was shelved at the start of 2022. The technology was also used to create the Sui and Aptos layer-1 networks. Movement Labs, with the help of a $38 million Series A funding round led by Polychain Capital, is extending the programming language to an Ethereum layer 2 for the first time. Coinciding with the public mainnet’s deployment, Movement will also unveil a multi-asset liquidity program to provide the foundation for decentralized finance (DeFi) applications. Read more.

CARDANO HARD FORKS TO DECENTRALIZATION: Proof-of-stake blockchain Cardano was due to switch to decentralized governance Jan. 29 after the Plomin hard fork takes effect, Cardano Foundation, a non-profit organization backing the project, said on X. “The Plomin hard fork takes effect, marking the transition to full decentralized governance. ADA holders gain real voting power – on parameter changes, treasury withdrawals, hard forks, and the blockchain’s future,” Go to Source to See Full Article
Author: Benjamin Schiller

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