Newton: A Promising Project by Polygon and Magic Labs
Polygon, a major player in the Ethereum ecosystem, and Magic Labs, a blockchain onboarding startup, have unveiled Newton, a cross-chain network designed to simplify the use of decentralized applications across multiple blockchains. This initiative aims to make navigation between different chains as smooth as using the Internet, removing barriers to mass adoption.
Newton is built on Polygon’s decentralized AggLayer and its Chain Development Kit, allowing developers to create interoperable dapps without the need for separate wallets for each blockchain.
Developers can now design user experiences without barriers.
Sean Li, co-founder and CEO of Magic Labs
This approach eliminates the complexity of the crypto experience, where users only care about transaction costs and speed, regardless of the blockchain used.
Strong Backing for This New Project
Magic Labs, backed by prestigious investors such as PayPal, Placeholder, and Lightspeed, and iconic figures like Naval Ravikant and Balaji Srinivasan, has already raised over $82.9 million.
Polygon, on the other hand, continues to stand out with AggLayer, a network of aggregated blockchains using Ethereum as a security and settlement layer.
Towards the End of Blockchain Fragmentation?
The creation of Newton represents a step towards what Magic Labs calls the “unified chain,” similar to the standards applied to traditional financial systems like ACH or SWIFT. This standardization could address the problem of blockchain fragmentation, where liquidity fragmentation and diverse interfaces make the user experience laborious. By simplifying this interoperability, the project hopes to transform the decentralized landscape into a more cohesive and accessible environment.
Magic Labs integrates its agnostic and self-custodial crypto wallet, Passport, into Newton. Passport provides users with a unified view of their balance, regardless of the Ethereum-compatible blockchain used, creating a simplified experience that eliminates the perception of network boundaries.
Since its inception in 2018, Magic Labs has made a name for itself by offering innovative solutions to improve the user experience, including the concept of wallet abstraction. With Newton, the company goes further by addressing the fragmentation of Layer 2 solutions. “Magic Labs has always emphasized UX, and with Newton, we extend this commitment to solving the fragmentation of second layers,” explains Jaemin Jin, co-founder and product director of the startup.
