Movement Labs raises over $3m in pre-seed round and releases movement SDK for Web3
On September 13, Movement Labs made an announcement that it had raised $3.4 million in pre-seed funding from a consortium of prominent industry leaders. This substantial financial support will empower Movement Labs to expand the implementation and advancement of Move, a programming language specifically designed for smart contracts. Notably, Move incorporates built-in protective measures against attack vectors such as reentrancy, which have been responsible for significant financial losses amounting to billions of dollars annually for Web3 users. In conjunction with the pre-seed investment, Movement Labs is introducing the Movement SDK (Software Development Kit), which aims to provide secure and high-performance Move environments to established blockchain ecosystems. M1 blockchain The primary tool offered by the Movement SDK is M1, a blockchain that is characterized by its uniqueness, modularity, horizontal scalability, and vertical composable blockchain. M1 is specificall...