Dunamu, the father or mother firm of common 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 expertise extra accessible to builders and customers in Korea and overseas.
GIWA, quick for “International Infrastructure for Web3 Entry,” consists of the GIWA Chain, a layer-2 blockchain constructed on Optimistic Rollup expertise, 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, generally known as “giwa,” which layer to type sturdy buildings. Equally, GIWA Chain is meant to stack information securely whereas enabling good contract-based purposes, the corporate stated. GIWA Chain, it added, is at present out there in testnet.
The GIWA Pockets, in the meantime, is out there for demo use throughout the convention and can broaden 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 purposes from the agency had been noticed on-line. An internet site for GIWA has since gone on-line.