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Original author: Mavericks丨Beep News
TL;DR
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1. The Move language has the characteristics of programming assets as first-class citizens, security, flexibility, and composability;
2. The ecological development of the public chain using the Move language is still in its infancy, and there are not many interactive options;
4. According to the ecological expansion, testnet progress and valuation of Aptos and Sui, it is necessary to continue to pay attention to the future direction and market performance of the two.
How to capture the early dividends of the Move language?
Move language is a programming language developed by Meta (formerly Facebook), and it is a programming language specially designed for digital assets.
Its features include programming assets as first-class citizens, security, flexibility, composability, etc., providing high-quality choices for developers of DeFi and NFT projects, and providing more imagination for project development.
Among the new batch of new public chains, public chains such as Aptos and Sui will use the Move programming language as a selling point. The security and flexibility of the Move programming language have become one of the main advantages of the new public chains.
Among the public chains currently using the Move programming language, Aptos, Sui, and Starcoin are the most popular, and the development progress and ecology of the three are relatively leading.
But generally speaking, the public chain using the Move language is still in the early stage of development, and the ecology is expanding rapidly, but the number of relatively mature projects in the ecology is not large. If users want to interact, they need to observe for a while.
Aptos and Sui with Meta background have received investment from several well-known investment institutions.
a16z, Franklin Templeton, Tiger Global, FTX Ventures, etc. all appeared in the investment lineup.
The Move language can be favored by developers more because of its technical characteristics. To gain users, the public chain using the Move language must not only have a new narrative, but also do more in terms of value capture, ecological construction, and user experience.
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Features of the Move language
Move is a programming language developed by Meta (formerly Facebook) for its stablecoin project Diem (formerly Libra). Diem's vision is to serve as a global digital native currency with stability, low inflation, global acceptance and interchangeability sex in one. Its vision determines that Move is a programming language born for finance.
The characteristics of Move mainly include the following five aspects:
1. Programming assets as first-class citizens (First-class Resources)
2. Ensure its security through static calls, virtual machine sandboxes, etc.
3. Verifiability
5. Contract composability
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(1) Programming assets as first-class citizens (First-class Resources)
The Move language is defined for digital assets through Resource. Digital assets in the Move language are represented and stored in specially defined code/resource/.
The Move language abstracts four attributes of resources: copyable, indexable, discardable, and storable. Through different combinations of these four attributes, users can easily define any type of resource.
Move stipulates that resources (Resource) will be stored in modules controlled by the owner's account. The verified owner is represented by /signer/. The owner of these resources has the highest decision-making power, and only the owner can decide the resource (Resource) storage and transfer.
Resource is designed so that the transfer of digital assets is not a simple addition or subtraction of balance values between accounts, but a movement between storage locations to avoid re-entry and double-spending attacks.
Resource (Resource) determines that digital assets are only transferred between storage locations, avoiding reentrancy. Digital assets are not created or destroyed out of thin air, avoiding double-spending attacks.
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(2) Ensure its security through static calls, virtual machine sandboxes, etc.
The Move language adopts static calling, which means that when program A calls program B, the calling object is determined before running, and the calling object is not changed during operation.
Move VM is a virtual machine sandbox of the Move programming language. The virtual sandbox makes the blockchain using the Move language deterministic. Contract calls are placed in the same sandbox. During this process, the security of the state of the contract mainly depends on Isolation is achieved through security within the programming language, rather than relying on virtual machines for isolation.
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The Move programming language employs formal verification. In short, formal verification is to prove the security of a program by means of digital tool analysis. The previously mentioned static call and virtual machine sandbox can improve the security of verification.
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(4) Flexibility
Move guarantees contract scalability and increases code reusability through generic programming. (Note: Generic programming is a programming method that focuses on the design of algorithms and their data structures, which enables these algorithms, that is, data structures, to be used in the most general environment without losing efficiency.)
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(5) Contract composability
Module is equivalent to providing a unified compatible space for these smart contracts. Smart contracts are like various parts of Lego toys, which can generate new products through arbitrary combinations.
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A public chain developed using the Move language
According to the document introducing the Move language written by Sui development team MystenLabs, there are currently 4 public chains using the Move language, namely Aptos, Sui, Starcoin, and 0L Network.
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Aptos
1 Introduction
1 Introduction
Aptos is a high-performance public chain built by former Meta engineers. It adopts the Move programming language and focuses on security, scalability and upgradeability.
Aptos aims to create universal and fair decentralized assets for billions of people, which is very similar to the vision of the stablecoin project Diem.
The founder of Aptos mentioned in "The Genesis of Aptos" published on February 24 this year that Aptos did not start from scratch. The Move language used by Aptos is the result of the development process of Diem. The developers of Aptos include members of the founding team of Diem. With the core developers, the team's vision for Aptos is highly related to the vision for Diem. The development of Aptos is to a certain extent a continuation of the development of Diem.
2. Team situation
Among the core team members of Aptos, many people have held important positions in Meta.
Aptos founder and CEO Mo Shaikh was responsible for strategic partnerships at Meta from May 2020 to December 2021.
Aptos founder and CTO Avery Ching has served as the chief software engineer at Meta for more than 10 years, and served as the technical leader of the Novi team, Meta's encryption platform.
Aptos software engineer David Wolinsky served as Meta's Web3 technical director, and before joining Novi, he served as Meta's technical director/manager, responsible for Meta's advertising growth.
3. Development progress
Aptos launched the developer testnet in March this year, allowing developers to build applications on Aptos. Subsequently, Aptos launched the Incentive Testnet 1 (AIT1) and Incentive Testnet 2 (AIT2) on May 14 and July 1, respectively, to attract developers and users.
According to the latest roadmap of Aptos, Aptos will run the Incentive Testnet 3 (AIT3) from August 30th to September 9th. The test theme of Aptos is governance and upgrades. AIT3 is the last testnet before the mainnet launch, and the Aptos mainnet will be launched this autumn.
4. Ecological development
At present, there are more than 60 projects with public information, and the project categories cover wallets, DEX, NFT, Launchpad, liquidity agreements, etc. Most of the projects are still in the testnet or not online.
5. Financing situation
5. Financing situation
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Sui
1 Introduction
1 Introduction
Sui is a Layer1 blockchain built by Mysten Labs founded by former Meta engineers, using the Move programming language and focusing on high TPS and low latency. Sui aims to help developers provide a great experience for the hundreds of millions of Web3 users in the future.
Sui does not set a TPS upper limit, has good capacity expansion, and reduces transaction costs for users. In the test in March this year, Sui's TPS reached 120,000.
Through the Move programming language, Sui allows the user's assets to be stored in the account instead of a smart contract, and the owner of the asset determines the storage and transfer of the asset through signature.
2. Team situation
Sui's development company is Mysten Labs. The founders include Evan Cheng, Adeniyi Abiodun, Sam Blackshear, etc., who have participated in Diem and Novi in Meta.
3. Development progress
Mysten Labs announced the launch of Sui on March 22 this year, and launched Devnet in May, allowing developers to use the Sui network. As of July, more than 5,000 nodes have been running on Devnet.
At present, there are 8 projects with public information, covering wallets, NFTs, blockchain games, Metaverse, etc. Judging from the current project layout and the solutions provided by Sui for games, NFT and chain games are expected to become more distinctive sectors of its ecology.
At present, there are 8 projects with public information, covering wallets, NFTs, blockchain games, Metaverse, etc. Judging from the current project layout and the solutions provided by Sui for games, NFT and chain games are expected to become more distinctive sectors of its ecology.
5. Financing situation
5. Financing situation
Sui’s development company, Mysten Labs, is raising at least $200 million in Series B funding at a $2 billion valuation, led by FTX Ventures. Previously, Mysten Labs completed a US$36 million Series A financing in December last year, with investors including a16z, Coinbase Ventures, Samsung NEXT, etc.
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Starcoin
1 Introduction
1 Introduction
Starcoin is a blockchain based on the enhanced PoW consensus mechanism and the Move programming language. Through layered and flexible interoperability, it provides solutions for DeFi, NFT, and blockchain games.
Starcoin uses the Move language to formulate secure digital asset protocols including FT and NFT, and provides mature formal verification tools to replace traditional contract audits to ensure the security of contracts and the security of assets on the user chain.
Starcoin is a blockchain with a Layer 2 expansion solution. It has good scalability, the state can be safely and seamlessly transferred, the data can be easily and quickly expanded, and it has low latency and good operability. It will be available in September this year. Test network.
2. Development progress
At the end of 2018, Starcoin released its first white paper, proposing the vision of building a scalable blockchain. In 2019, the Move language was officially launched. In the same year, Starcoin Layer 1 decided to adopt Move as the smart contract language and virtual machine.
On May 18, 2021, Starcoin launched its mainnet, which is an earlier blockchain project using the Move language. The Starcoin mainnet has been running stably for more than a year now. Starcoin Layer 2 will provide a test network in September this year.
3. Ecological development
The Starcoin ecology mainly revolves around STC, stores and transfers STC through wallets, trades STC through CEX and DEX, and directly obtains STC through node mining through mining pools.
4. Tokens
4. Tokens
The Starcoin economic white paper mentions that STC is Starcoin’s native token, with a total issuance of 3,185,136,000 STC and a constant total.
The main uses of STC are:
1. Pay the gas fee for the transaction.
2. Pay the state space fee.
STC’s token economic model shows that the treasury is the center of the economic model. The treasury distributes block rewards to miners, distributes treasury funds to DAO, miners and DAO put STC into the ecology, and the ecological benefits on the chain finally return to the treasury to realize the economic model bootstrap.
0L Network
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0L Network is an open, permissionless, community-governed Layer 1 blockchain. 0L Network emphasizes community management, and community members decide the development path of the project.
At present, 0L Network has not issued tokens yet, and there is no financing information.
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Development status of public chain ecology
(1) The overall ecological development is in the early stage, and most of the NFTs and wallets in the ecosystem
Judging from the collected information, the number of ecological projects on the Move language public chain is still relatively small.
According to the project information that has been released so far, the number of projects on the Aptos chain is between 60-70, the number of Sui ecological projects is 8, and the number of Starcoin ecological projects (excluding mining pools and centralized exchanges) is 11.
There are currently 27 applications available online in the Aptos ecosystem, 12 of which are native applications. Most of the currently available applications are wallets, infrastructure, and NFT.
At present, the applications that Aptos users can choose to interact with are limited to wallets, Liquidswap and some NFT trading platforms.
The native projects of Sui ecology that have been launched are the domain name project Sui Names, the wallet Sui Wallet, and the blockchain browser Sui Explorer. They are mainly based on infrastructure, and there are not many interactive options at present.
In the Starcoin ecological category, NFT and chain games performed more prominently, and their running time in the ecology was relatively longer.
(2) Aptos takes the lead in ecological development
The ecological development of Aptos is in an absolute leading position in the competition of the Move public chain. Aptos discloses new projects every week. Currently, the number of applications that can query information is between 60-70, which far exceeds other Move language public chain ecology.
The 27 projects available now cover categories including DEX, Wallet, DID, Infrastructure, Launchpad, NFT, Investment Fund, and more.
Among various categories, DEX, wallets, and NFT are currently relatively mature sectors.
In the DEX category, Pontem Network launched the first AMM Liquidswap on the Aptos chain, which currently supports user interaction. The DEX on the Solana chain Solar Dex is deployed on Aptos, which is an early project for the migration of applications on the Solana chain to Aptos.
The wallet has sparked a lot of discussion among the first batch of Aptos public information projects in July. The original wallet projects Martian Wallet and Fewcha Wallet on the Aptos chain are essential tools for users to experience Aptos.
At present, the number of Aptos ecological wallet projects has increased to 6. In addition to Martian Wallet and Fewcha Wallet, the more famous ones are Blocto and ComingChat.
At present, the NFT trading platform on the Aptos chain is mainly Topaz. Users can use the Aptos ecological wallet Martian Wallet and Fewcha Wallet to receive test coins and purchase NFT on Topaz to complete the interaction.
Aptos, Sui test network progress
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(1) Testnet progress
1. Aptos testnet progress
Aptos has previously ended incentive testnets 1 and 2 (AIT1, AIT2).
Aptos Incentive Testnet 1 (AIT1) started on May 14th with 100 participants. The theme of AIT1 is decentralized startup, and there are two success criteria:
① Successfully start the node and pass the activity check within 24 hours;
②Availability exceeds 95%.
Each successful participant will receive 500 Aptos tokens.
The Aptos Incentivized Testnet 2 (AIT2) starts on July 1st and ends on July 22nd with the theme of staking. A total of more than 225 community nodes participated in AIT2, and these nodes are distributed in 44 countries and 110 cities around the world.
Each successful participant receives 500 Aptos tokens. Additionally, the top 10% of voting nodes get an additional 200 Aptos tokens.
Aptos Incentivized Testnet 3 (AIT3) will run from August 30th to September 9th, with the theme of governance and upgrades. The success criteria are as follows:
① Successfully start the node and pass the activity check within 12 hours after the node start time;
②Availability over 97% successfully participated in standard network upgrade, 2-day response time;
③Successfully participate in patch network upgrade, 12-hour response time;
④ Among the top 75% of consensus participants (consensus voting).
Each successful participant gets 500 Aptos tokens, and the top 3 voting nodes get 5000, 2500 and 1000 Aptos tokens respectively.
Incentivized Testnet 3 (AIT3) is the last testnet before the mainnet launch, which will be launched this fall. After the mainnet is launched, AIT4 with the theme of dynamic validator topology will be carried out.
2. Sui testnet progress
Sui will launch the incentive testnet this month, and registration for the incentive testnet is currently open.
In addition, Sui promises to provide up to 10% of the total amount of SUI to the best validators who continue to participate in the Sui mainnet.
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(2) Node deployment evaluation (difficulty evaluation, participation, rewards)
Both Aptos and Sui’s testnet participation methods are startup nodes, which set a high threshold for user participation. Nodes run by users need to meet their success criteria in order to be rewarded.
Take Aptos AIT2 as an example. The theme of AIT2 is staking. Nodes eligible to participate in staking need to ensure that the number of staking within the node continues to rise.
The success criteria include meeting the node activity defined by the index push data ≥95%, the availability defined by the consensus proposal ≥95% per hour, and at least 25% of the voting results are consistent. There are relatively strict requirements for node operation.
Therefore, if you are a novice who wants to participate in the Aptos and Sui testnets, try to find people who have successful experience in running these network nodes, and run them with their help or on behalf of the nodes.
The progress of Aptos and Sui's testnet is different. Aptos is about to enter the third phase, while Sui will launch the testnet this month. Therefore, Aptos is superior in terms of testnet operating experience and user participation.
Sui awards 2,000 SUI tokens to participants who meet the success criteria at each stage. At present, the price of the two tokens cannot be found, and the number of tokens is superior to Sui.
Investment Opportunities Behind the Move Language
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(1) Layout of well-known investment banks
Among the five public chains using the Move language, Aptos, Sui, and Pontem Network have disclosed financing information.
Aptos completed two rounds of financing this year. Investors in March included a16z, Tiger Global, and Multicoin Capital, and investors in July included FTX Ventures, Jump Crypto, Griffin Gaming Partners, Franklin Templeton, and Circle Ventures.
The lineup of investment institutions for the two rounds of financing of Aptos is very luxurious. a16z, Tiger Global, Multicoin Capital, and Jump Crypto are very active investors in the encryption industry in the past two years. They can be seen in the investment lineup of star projects.
The appearance of Franklin Templeton in the investment lineup is eye-catching. Franklin Templeton is the largest listed fund company. As of May this year, its asset management scale is nearly 1.5 trillion US dollars. Franklin Templeton launched a $20 million blockchain venture fund last year, investing in Aptos can be seen as an exploration of its investment in the encryption industry.
a16z and FTX Ventures participated in the financing of Aptos and Sui. Samsung NEXT is the early startup accelerator of Samsung Electronics. In recent years, it has invested in blockchain projects such as FTX, Axie Infinity, and Aleo. It belongs to the traditional financial forces that are relatively active in the financing of the encryption industry. The layout of traditional financial institutions can be seen from Aptos and Sui investment institutions.
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(2) Developers: The characteristics of the Move language are highly compatible with the needs of DeFi, NFT and other products
Flex, the founder of 3NJOY Lab, shared his views on the Move language in "Why I Think Move Will Surpass Solidity". 3NJOY Lab operates the NFT projects Wav3 and Souffl3 on the Aptos chain.
Flex said: Asset security, resource abstraction, and composability are all features of Move at the language level. In general, I think it is the most suitable language for on-chain application development. Its features are similar to those of products such as DeFi and NFT. The needs are highly compatible.
Guo Yu, the founder of Secbit, Anbi Lab, mentioned three reasons why he likes Move:
1. Absorb the research achievements in the field of PL (programming language), and also absorb the experience and lessons of the EVM smart contract language;
2. From the design, attach great importance to the security and correctness of smart contracts;
3. Not sticking to the rules (neither using WASM, LLVM, nor directly modifying EVM), but actively innovating. It is a smart contract language that is truly suitable for financial applications.
The advantages of the Move language over the Solidity language are bound to attract more developers to use the Move language to develop blockchain applications.
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(3) Project and ecological development prospect
The fit between Move language and DeFi and NFT is relatively high. In the public chain ecology using Move language, DeFi and NFT projects are the first to be deployed.
Among them, the types of DeFi projects are widely distributed, including liquidity agreements, DEX, lending, stable currency agreements, etc. Although the number of ecological projects is not large, many DeFi categories have already been applied.
NFT and chain games have projects in Aptos, Sui and Starcoin ecology, and the number accounts for a large proportion. NFT trading platforms have been launched on Aptos and Starcoin, and Sui ecology is also building an NFT trading platform Sui Gallery.
Judging from the current development status of the ecology, the projects deployed in the Aptos and Sui ecology in the short term are basically DeFi and NFT projects, while the Starcoin ecology projects are concentrated in NFT, chain games, stable coins and DEX sectors.
It is worth noting that, judging from the sources of non-native applications on the Aptos chain, the applications on the Solana chain are currently being deployed to the Aptos ecosystem, and the relationship between the Solana ecosystem and the Aptos ecosystem has increased. In the future, Solana developers will not rule out deployment on other public chains that use the Move language. smart contract.
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(4) Potential Alpha benefits
At present, Aptos and Sui have not yet issued coins, but the market's valuation of the two has been relatively high, and many well-known investment institutions have participated in the two projects.
From the currently published documents, it is still impossible to know the value capture capabilities of Aptos and Sui networks. Value capture capabilities are issues that need to be considered in the follow-up of these public chains.
reference article
reference article
1. "Interpretation of public chain Aptos: Opportunities and challenges under the first-mover advantage" by CryptoJ
2. "The strongest opponent of Solidity: MOVE language and the rise of new public chains" by Buidler DAO
3. "Why I think Move will eventually surpass Solidity" by Flex, the founder of 3NJOY Lab
4. "$1,200 an hour for developers? What’s so good about the Move language used by all new public chains?》by Figment Capital
5. "Developers earn up to $1,200 an hour? This article takes you closer to the programming charm of the Move language! "by TinTinLand
6. "Move language: the biggest highlight of Libra in my eyes" by SECBIT
