Polygon And Magic Labs Announce New Cross-Chain Network

According to BlockBeats, on November 7, Polygon and Magic Labs, a startup supported by PayPal, announced the launch of a new cross-chain network named Newton. This platform is designed to make the experience of using decentralized applications (dapps) across multiple blockchains as seamless as browsing the internet. Newton will leverage Polygon's decentralized AggLayer and Chain Development Kit, enabling developers to build dapps that operate across different chains without requiring users to hold multiple wallets. This initiative represents a step towards what Magic Labs refers to as 'chain unification,' akin to the standardization seen in traditional financial systems with ACH or SWIFT. If widely adopted, this technological standard could help address the 'blockchain island' issue, which fragments liquidity and complicates the user experience in the crypto space.