Facebook-Developed MoveVM Gets Closer to Ethereum Deployment With Public Mainnet Beta Launch

Blockchain firm Movement’s public mainnet is set to launch in beta, continuing the progress toward deploying Movement Virtual Machine (MoveVM) on Ethereum.

The mainnet will roll out Monday with over $233 million worth of BTC, ETH, and native assets, MOVE, in liquidity raised through Movement’s Cornucopia program.

Movement’s mainnet will allow smart contract deployment and allows anyone to build on and use the network for the first time, the Movement Network Foundation announced via email on Monday.

Move was developed by Facebook as part of its plans to develop its own digital currency, which was abandoned in early 2022.

The technology was subsequently used to create layer-1 networks Sui and Aptos, as well as Movement Labs extending the programming language to develop an Ethereum layer 2.