KEY TAKEAWAYS
- Magic Labs introduces a new wallet solution and cross-chain smart contract wallet for the AggLayer, enhancing Web3 infrastructure.
- In collaboration with Polygon Labs, Magic Labs aims to simplify access across the crypto ecosystem by unifying EVM chains within the AggLayer.
- Newton, the first chain unification network, supports the AggLayer’s vision of a seamless cross-chain settlement solution with finality on Ethereum.
- The initiative seeks to make Web3 as user-friendly as Web2, breaking down barriers for users and unifying a fragmented ecosystem.
Magic Labs, a leader in Web3 wallet infrastructure, has announced a new wallet solution and cross-chain smart contract wallet for the AggLayer. This development coincides with the private testnet launch of Newton, the first chain unification network.
Magic Labs is collaborating with Polygon Labs to bring Newton’s vision to fruition. The aim of Newton is to simplify access for users, applications, and liquidity across the crypto ecosystem, beginning with the unification of EVM chains within the AggLayer.
Newton aligns with Magic Labs’ goal to abstract the complexities of Web3 and dismantle on-chain silos. It also supports the AggLayer’s vision as a cross-chain settlement solution that unifies liquidity, users, and execution environments, with finality posted to Ethereum.
The initiative seeks to unify a fragmented ecosystem, making the Web3 experience as seamless as possible, akin to the convenience of Web2. If the AggLayer represents the TCP/IP moment for Web3, Newton can be seen as the HTML or HTTP analog necessary for a post-fragmentation Web3.
The ultimate objective is for Magic Labs’ technology to support any chain connected to the AggLayer, regardless of consensus mechanism or execution environment, further breaking down barriers for users.
Newton is precisely the kind of technology the AggLayer needs to realize the full potential of Web3. More details about this development can be found here.
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