Newton Protocol is a decentralized platform offering new solutions for utilizing computing resources on the web. It was created to simplify access to technology, making it more open and available.
The Story Behind Newton Protocol
Newton Protocol was created by Magic Labs, founded in 2018 by two engineers from the University of Waterloo: Sean Li and Jaemin Jin. Sean was previously a co-founder of Kitematic, which was later acquired by Docker. Jaemin played a role in launching Uber’s business platform. Since its inception, Magic Labs has focused on simplifying access to Web3, building embedded wallet infrastructure that now supports over 50 million wallets and more than 200,000 developers. In October 2024, the Magic Newton Foundation was formed to guide the ongoing development of Newton Protocol.
How Newton Protocol Works
At the core of Newton Protocol is a public registry for compute services, which is stored on-chain, ensuring transparency and security of information. The registry includes details about:
* The name and description of the service * The service provider * Pricing and usage terms * Technical specifications * Performance data
All services follow common standards, enabling the creation of compatible solutions. Users can combine services to form more complex workflows and automate tasks without the need for centralized oversight.
Key Features and the NEWT Token
The NEWT token is used within Newton Protocol to facilitate interaction with AI-driven automation. Users can:
* Trade and profit from price fluctuations * Stake or lend NEWT tokens to earn rewards * Transfer funds * Reward AI agents and users who contribute to the platform.
Newton Protocol aims to revolutionize the decentralized finance landscape by making it more accessible and automated. The project attracted over a million users in its first month.
Newton Protocol offers an innovative solution for utilizing decentralized technologies by combining automation and access to computing services. With the backing of Magic Labs, the project is well-positioned for future growth.
