ChainCatcher reported that according to The Block, Polygon and Magic Labs, a startup backed by PayPal, announced on Thursday that they will launch a new cross-chain network called Newton. The platform aims to make the experience of using decentralized applications (dapps) across multiple blockchains as seamless as browsing the Internet.
By leveraging Polygon’s decentralized AggLayer and Chain Development Kit, Newton will enable developers to build dapps that run across chains without requiring users to hold different wallets.
The move marks a move toward what Magic Labs calls “chain unification,” similar to the ACH or SWIFT standardization in traditional financial systems. If such a technical standard becomes popular, it could help solve the “blockchain silo” problem, which fragments liquidity and complicates the crypto user experience.
