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Cryptocurrency News Articles
Magic Labs Unveils Newton, a Chain Unification Network Built With Polygon's CDK
Nov 09, 2024 at 07:29 am
Polygon's (POL) AggLayer is set to get a UX boost. On Thursday, November 7, Magic Labs unveiled Newton, a chain built with Polygon's Chain Development Kit (CDK), which is focused on simplifying the experience of using chains connected to the AggLayer.
Wallet abstraction pioneer Magic Labs has unveiled Newton, a chain built with Polygon’s Chain Development Kit (CDK) that is designed to simplify the experience of using chains connected to Polygon’s AggLayer.
Described as “the first chain unification network,” Newton will feature chain-abstracted smart wallets, free wallets, gas subsidies, and cross-chain applications built around AggLayer’s unified liquidity, among other features.
This will allow users to interact with applications on the AggLayer without worrying about or even needing to know which chain they are on.
Magic Labs is building Newton on a Chain Development Kit chain. It will serve as a gateway to the AggLayer, a cross-chain interoperability solution powered by ZK technology.
Magic Labs Unveils Newton
On Thursday, Magic Labs unveiled Newton, a chain built with Polygon’s Chain Development Kit (CDK) that is designed to simplify the experience of using chains connected to the AggLayer.
Built on a Chain Development Kit chain, Newton is set to serve as a gateway to the AggLayer, a cross-chain interoperability solution powered by ZK technology.
The chain is part of Magic Labs' broader efforts to unify the Web3 experience and make it easier for users to navigate the diverse and complex landscape of applications and protocols.
Announcing Newton, a chain built with @polygon's CDK that will serve as a gateway to the AggLayer.
With Newton, users will be able to interact with applications on the AggLayer without worrying about or even needing to know which chain they are on.
This is achieved through several features, including chain-abstracted smart wallets, free wallets, gas subsidies, and cross-chain applications built around AggLayer’s unified liquidity.
Commenting on Magic Labs' Newton announcement, Polygon Labs CEO Marc Boiron tipped the network as the perfect companion for AggLayer to fulfill its mission.
“We are excited to see Magic Labs join the AggLayer with Newton, a chain that will greatly enhance the user experience of interacting with multiple chains,” Boiron said.
“This is a crucial step in our mission to connect all of Web3 and provide a seamless and efficient way for users to access the vast array of applications and services available.”
AggLayer Version 0.2 Coming in December
The recent development comes as the AggLayer looks set to achieve a new milestone.
So far, Polygon Labs has opted to roll out the AggLayer in phases. In February
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- The Optimism Cryptocurrency: Opportunities and Challenges Beyond the Charts
- Nov 13, 2024 at 02:25 am
- In recent discussions about cryptocurrency, much attention has been directed towards Optimism, particularly due to its intriguing ascending triangle chart pattern. While this pattern suggests a potential price surge, there's a significant amount of uncharted territory that investors must navigate beyond mere technical analysis.
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- The Russian government has approved a bill to tax cryptocurrencies in the country
- Nov 13, 2024 at 02:15 am
- According to the bill, digital currency is given the status of property, and a separate calculation of the tax base is introduced, which is defined as the excess of the value of the asset over the costs of its purchase or extraction.
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- Solana (SOL) Outperforms Altcoin Market, Targeting New Highs as Bitcoin (BTC) Eyes $260K
- Nov 13, 2024 at 02:15 am
- Solana's token (SOL) rose 35% from November 5 to 11, reaching a peak of $222, the highest since December 2021. This rebound has led traders to speculate whether Bitcoin will rise to an all-time high of $260, especially as institutional capital stabilizes and expectations for clearer U.S. regulation grow, following Bitcoin's approach to $90,000.
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- The Quantum Revolution: Unveiling Unforeseen Impacts on Society and Technology
- Nov 13, 2024 at 02:15 am
- The ascension of quantum computing promises to reshape numerous sectors, sparking both excitement and trepidation across the globe. This burgeoning technology is set to have far-reaching consequences, potentially upending current encryption systems that safeguard sensitive information ranging from financial transactions to government communications.
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