Polygon launches cross-chain system for Agglayer
The Polygon network has just announced an innovation for developers of decentralized applications (dApps) with the launch of Newton, a cross-chain system integrated with AggLayer, in partnership with Magic Labs.
This solution aims to revolutionize the user experience, allowing them to navigate between blockchains without the need for multiple wallets, facing the challenge of fragmentation of the blockchain ecosystem.
Newton's main objective is to eliminate “balkanization” between blockchains, a situation where each network operates in isolation, forcing users to maintain different wallets to access dApps on different networks.
With the collaboration between Polygon and Magic Labs, developers will have access to a new infrastructure that connects different blockchains, facilitating interoperability and expanding the reach of dApps across different networks.
Magic Labs, developer of Magic Link, a platform that promotes wallet abstraction, sees Newton as a solution that will bring the simplicity necessary for growth to the blockchain market. “We want using cross-chain dApps to be as easy as browsing the internet,” commented Sean Li, co-founder and CEO of Magic Labs, reinforcing the company's commitment to focusing on the user experience.
How the cross-chain system works with AggLayer
The partnership between Polygon and Magic Labs uses Polygon's Chain Developer Kit (CDK) and AggLayer. AggLayer functions as an aggregator layer that allows independent blockchains to securely share liquidity, user data, and status. This robust connectivity eliminates the need for users to transfer assets between different wallets or networks, a common barrier that reduces efficiency in the Web3 ecosystem.
According to Jaemin Jin, co-founder and product director at Magic Labs, the company's focus has always been user experience (UX). With Newton, Magic Labs aims to “address the fragmentation of second-tier solutions and create a more fluid and accessible network.”
Magic Labs is backed by renowned investors in the Web3 market, including PayPal Ventures, Placeholder and Lightspeed. Since its founding, the company has raised more than $80 million in capital, aiming to simplify users' blockchain experience and drive adoption of cross-chain dApps.
In May 2023, an investment round led by PayPal Ventures raised $52 million for Magic Labs, reinforcing its commitment to developing innovative technologies.