Dunamu, the father or mother firm of standard South Korean cryptocurrency trade Upbit, has unveiled its personal Web3 infrastructure model GIWA on the Upbit Developer Convention (UDC) in Seoul.
The Seoul-based firm GIWA is designed to make blockchain know-how extra accessible to builders and customers in Korea and overseas.
GIWA, brief for “World Infrastructure for Web3 Entry,” consists of the GIWA Chain, a layer-2 blockchain constructed on Optimistic Rollup know-how, and GIWA Pockets, a cellular app that helps digital asset storage and transfers throughout a number of chains together with Ethereum, Base, Arbitrum, Avalanche, and Polygon in addition to its personal GIWA Chain.
Dunamu drew parallels between the blockchain and Korea’s conventional roof tiles, often known as “giwa,” which layer to kind sturdy buildings. Equally, GIWA Chain is meant to stack knowledge securely whereas enabling sensible contract-based functions, the corporate stated. GIWA Chain, it added, is at present out there in testnet.
The GIWA Pockets, in the meantime, is obtainable for demo use in the course of the convention and can increase blockchain help sooner or later. The official launch date of the pockets, Dunamu added, hasn’t but been decided.
Dunamu framed GIWA as a response to the worldwide dominance of U.S. and Singapore-based blockchain ecosystems. By providing native infrastructure, it hopes to attract extra Korean builders into Web3.
Rumors surrounding the launch of GIWA started circulating earlier, after trademark functions from the agency have been noticed on-line. A web site for GIWA has since gone on-line.
