Magic Labs and Polygon Labs Reveal Chain Unification Network Newton, Connecting Wallet Solutions to AggLayer

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served…

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Last updated:

November 7, 2024 09:37 EST

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Wallet infrastructure provider Magic Labs has partnered with Polygon Labs, a software development company building a network of aggregated blockchains via the AggLayer, to reveal a wallet solution and cross-chain smart wallet for the AggLayer through Newton, a dedicated network for chain unification.

As a reminder, AggLayer is an aggregation layer and a cross-chain settlement solution developed by Polygon Labs and its collaborators.

Per the press release shared with Cryptonews, Newton is the first network of its kind.

It is built with Polygon Chain Development Kit (CDK). CDK is a modular, open-source blockchain stack for developers launching sovereign L2 chains powered by zero-knowledge (ZK) proofs.

Additionally, it enables “seamless state and liquidity sharing across multiple blockchains, like how HTML or HTTP introduced standards to create a seamless Internet experience,” the teams said.

Newton’s mission, they continued, is to “dismantle blockchain silos.” It will unify liquidity across chains and prioritize enhanced developer and user experiences.

Moreover, the network provides developers with free tools, chain-abstracted smart wallets, access to global liquidity, and cross-chain launches from a single command line.

Therefore, it allows them to build a unified experience across wallet types and chains, “[empowering them] to ‘Build once. Be everywhere’,” the press release said.

AggLayer v0.2 Coming in December

In short, its creators claim that Newton eliminates traditional user barriers. These include maintaining multiple wallets, gas fees, and complex transactions.

This, they say, makes “Web3 experiences indistinguishable from Web2.”

“Chain unification is inevitable—like ACH or SWIFT for crypto,” said Sean Li, co-founder and CEO of Magic Labs.

“Developers can build user experiences that eliminate barriers. Users should only care about transaction cost and speed, not the chain. Eliminating UX barriers will unlock the best use cases,” Li said.

Jaemin Jin, Magic Labs co-founder and chief product officer, argued that the best company to solve Layer 2 fragmentation is one that prioritizes UX.

Magic Labs’ collaboration with Polygon Labs enables developers to use “the first chain-abstracted smart wallet, Passport by Magic Labs, the first wallet designed from the ground up where the user has one wallet, one network, one balance,” Jin stated.

Meanwhile, Polygon Labs continues its work on developing a network of aggregated blockchains via the AggLayer.

This is public infrastructure that aims to “bring together user bases and liquidity for any connected chain and leverage Ethereum as a settlement layer,” said the team.

The version that supports connections to any EVM chain will go live in early December, they said.

As for Magic Labs, it is backed by major venture capital firms including PayPal, Placeholder, Lightspeed, and KX.

It says it has over 35 million users and over 200,000 developers through dapps Polymarket, Helium, and many others.