Originally published on: September 06, 2024
Ethereum’s layer-2 blockchain Movement is poised to set a new standard as the “first fast” Ethereum scaler, achieving a remarkable peak of over 12,000 transactions per second (TPS) on its testnet. With ambitious projections of hitting between 30,000 to 50,000 TPS, Movement Labs co-founder Rushi Manche believes they are on track to revolutionize blockchain scalability.
During Korea Blockchain Week, Manche confidently stated, “We’re gonna be the first fast L2 on Ethereum,” showcasing the potential of Movement to outperform its competitors. Compared to Polygon processing 190 TPS and Solana with 1,053 TPS, Movement’s speed sets a new benchmark in the blockchain industry.
The key behind Movement’s impressive TPS lies in its innovative programming language called Move, originally developed by Facebook for its Diem stablecoin project. Move’s ability to process multiple transactions simultaneously, rather than sequentially, unlocks unparalleled speed and efficiency in transaction processing.
While achieving maximum TPS depends on user adoption and transaction volume, Movement’s testnet already boasts 44 decentralized apps (DApps) contributing to its TPS metrics. Telegram-based Mini Apps have played a significant role in driving transaction volume, highlighting the demand for consumer-friendly and social applications within the blockchain space.
As the popularity of tap-to-earn games and mini-apps continues to soar, Movement is well-positioned to cater to the evolving needs of users seeking seamless mobile experiences. With the upcoming launch of their mainnet, the industry eagerly anticipates Movement’s potential to redefine blockchain scalability and performance.
For the latest updates on blockchain technology and scalability, stay tuned for more insights and developments from the forefront of the industry.
