Movement Labs co-founder Rushi Manche has announced plans to launch a new mechanism in late 2024 that will enable fast transaction settlement on L2 networks, potentially reducing confirmation times for Ethereum L2 transactions to under one second. Through postconfirmation, applications built on M2 (Movement's upcoming L2) can choose to route transactions to a network of validators secured by Movement's native token, MOVE. This token is slated to be released by the end of 2024.

Manche claims that the M2 network will offer high throughput while ensuring data settlement with the Ethereum mainnet, potentially enabling developers to build more secure and scalable smart contracts. He predicts that by the second half of 2025, as many as 20% of Web3 developers will collaborate with Move, surpassing the current 7.5%. Additionally, the M2 network will settle transactions on the mainnet like other optimistic rollups. Movement is collaborating with EigenDA to handle data awaiting settlement on the mainnet. (Cointelegraph)