Polygon and Magic today announced that they will be launching a new cross-chain network called Newton, which will make using applications across blockchains much more accessible and seamless. A similar development has occurred with Uniswap’s previous introduction of asset bridging, which it automated in the background.
There has been talk of major announcements for a few days now, and finally the expected news has arrived. Bitcoin’s impressive rise to $75,421 has also signaled to altcoin teams that “now is the time to make an announcement.” Similar major developments are expected to continue in the coming hours and days.
New Step from Polygon and Magic
According to the announcement made today, Polygon and Magic Labs are launching a new cross-chain network. Such networks make it much easier to transact across different blockchains and play an important role in multi-chain ecosystems. The Newton network, a joint product of the two companies, will allow users to access decentralized applications (DApps) without any difficulties. This innovation will make the interaction between blockchains more efficient and user-friendly.
After Uniswap announced the built-in and automated bridging features in its applications, there are signs of more major developments in the field. Magic Labs managed to raise approximately $82.9 million in funding, with the support of major investors such as PayPal, Placeholder, and Lightspeed.
Sean Li, co-founder and CEO of Magic Labs, said:
“Developers can now design user experiences that remove barriers. Users should only focus on transaction costs and speed, rather than what network they are on.”
Leveraging Polygon’s decentralized AggLayer and Chain Development Kit, this new network will make blockchain much more accessible and enable applications to reach a wider user base, thereby increasing interest and usage of blockchain-based applications.
