Polygon and Magic Labs, backed by PayPal, announced that they are launching a new cross-chain network called Newton. This network aims to make using decentralized applications (dapps) across multiple blockchains as easy as browsing the internet. By utilizing Polygon’s decentralized AggLayer and Chain Development Kit, developers can create dapps that work across different chains without users needing multiple wallets.
This initiative, called “chain unification” by Magic Labs, is similar to the ACH or SWIFT standards in traditional finance. If this standard gains popularity, it could solve the “blockchain silo” problem that currently causes liquidity fragmentation and complicates the crypto user experience.
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