A new contender in the Ethereum ecosystem, Movement, is positioning itself as a frontrunner in the race to become the fastest Ethereum scaler. According to Rushi Manche, co-founder of Movement Labs, the network has demonstrated its capability to process nearly double the number of transactions per second compared to its closest competitor at its peak.
The Movement testnet, which was introduced on July 30, achieved a peak of over 12,000 transactions per second (TPS) and has the potential to reach between 30,000 to 50,000 TPS in theory. Manche confidently stated, “We’re gonna be the first fast L2 on Ethereum.”
In the realm of Ethereum layer 2 solutions, Polygon previously held the record for the highest real TPS, processing 190 transactions per second. However, this figure falls significantly short of its advertised top TPS speed of 7,000. Solana, on the other hand, emerged as the leader in real TPS with 1,053 transactions per second, representing only 1.6% of its maximum theoretical speed of 65,000 TPS.
The speed prowess of Movement can be attributed to its unique programming language, Move, which was originally developed by Facebook for its now-defunct cryptocurrency stablecoin project, Diem. Manche explained that Move’s ability to process multiple transactions simultaneously, as opposed to sequentially, enables it to achieve such high TPS rates. He illustrated this by stating, “If you have 1,000 transactions, you’re waiting for A, then B, then C, then D to finish. It’s pretty slow. With 1,000 transactions on Move, you can execute them concurrently. All at one time.”
However, the actualization of a blockchain’s maximum achievable TPS hinges on user adoption and transaction volume. Movement’s testnet currently hosts 44 decentralized apps (DApps) that are driving its TPS figures, with Telegram-based Mini Apps contributing significantly to the overall TPS volume. Manche highlighted the shift towards consumer and social applications, which demand higher TPS compared to decentralized exchanges like Aave and Curve Finance.
Recent trends have seen a surge in popularity for Telegram tap-to-earn game apps, attracting millions of users and even causing disruptions on Telegram’s associated blockchain. Manche noted the rising preference for mobile-friendly apps, particularly Telegram-based Move apps, encompassing tap apps, Mortal Kombat, and various mini-games that generate transaction volume.
While the Movement mainnet’s official launch date remains undisclosed, Manche assured that it is on the horizon. The network’s progress and developments signify a potential game-changer in the Ethereum ecosystem.