Today, crypto is broken in a very simple way.
There are hundreds of blockchains, but moving money between them is slow, expensive, risky, and usually requires centralized exchanges, the very thing crypto was supposed to eliminate.
It’s like having email, but Gmail can’t talk to Outlook, so everyone has to go through a middleman.
Magi fixes this by turning the crypto industry into one interconnected financial network.
We do this in two ways:
First, we enable internal transfers inside our network between wallet addresses from different blockchains.
This enables the creation of next generation payment systems. Today, decentralized payment systems are generally all tied to a single ecosystem, which severely diminishes the chance of broader adoption.
Magi removes that limitation entirely.
Secondly, we support external cross-chain swaps.
If you have Ethereum and want Bitcoin, Magi lets you swap directly between the two in a fully decentralized way which generates revenue for the protocol participants.
And all this without having to get used to another wallet or a new system. You simply use any existing wallet you might, have which abstracts away complexity for the user.
PayPal-level simplicity, but fully decentralized and global.
Magi turns disconnected blockchains into one financial network.
The internet connects information, Magi connects value.
Connect with us!
Expect more updates and content as we near our upcoming major releases.
This post has been shared on Reddit by @x-rain through the HivePosh initiative.
The swapping doesn´t seem to work yet.
We are closing to launch and will be sharing more, easy to absorb, info on core Magi functionality.
Awesome fracking sauce :)
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STOPMagi has the potential to solve one of the biggest gaps in the Hive ecosystem: integrating smart contracts and genuine cross-chain interoperability. This will open up a new range of real-world applications. Infrastructure of this kind is what transforms robust communities into economically scalable Web3 ecosystems. Looking forward to seeing Magi spearhead this innovation.
Magi team is doing truly impressive work by tackling real infrastructure challenges in Web3. Bringing smart contracts and cross-chain interoperability together with performance and usability in mind is no small task. This kind of vision and execution is exactly what turns blockchain technology into something builders can actually rely on. Respect to the team for pushing the ecosystem forward.
Great!
@vaultec
@magi.network
@vsc.network
Author of this comment: @aftabirshad, Founder of HivePostify. Sharing my perspective as a fellow Web3 builder.