This Altcoin Announced a Game-Changing Update, and the Price Skyrocketed

Movement Labs has announced the move away from MOVE's sidechain structure and onto its own Layer-1 (L1) blockchain. This strategic move aims to improve network performance, implement native staking, and integrate Move 2.

0, the new version of the Move programming language. In its statement, the company highlighted four key benefits of L1 migration: higher performance, improved network stability, a staking mechanism, and updates to the Move language.

Movement Labs stated that they have surpassed the limits achieved with the sidechain model, and announced their goal of over 10,000 transactions per second (TPS) and millisecond transaction latency thanks to the L1 infrastructure. With the Move 2.

0 update, developers will have access to the functionality found in mature programming languages, with features such as enum types, index notation, and more advanced syntax. Related News: BREAKING: Coinbase Lists Four Altcoins for Futures Trading - One Was Highly Anticipated One of the key elements of the new structure will be native staking.

MOVE token holders will be able to stake through delegation to support validators who maintain network security. The company also added that locked tokens cannot be used for staking.

Chart showing the rise in MOVE price. With the L1 migration, Movement Labs plans to provide scalability for complex real-world assets, next-generation futures products, DePin projects, gaming applications, and other use cases requiring high transaction volume.

It was also announced that no changes will be made to the existing assets and smart contracts of users and developers, and the state of the network and storage data will be migrated seamlessly. *This is not investment advice.

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