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.
Expect more updates and content as we near our upcoming major releases.
