Dunamu, the guardian 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, referred to as “giwa,” which layer to kind sturdy constructions. Equally, GIWA Chain is meant to stack information securely whereas enabling sensible contract-based functions, the corporate stated. GIWA Chain, it added, is presently out there in testnet.
The GIWA Pockets, in the meantime, is out there for demo use throughout the convention and can develop blockchain assist 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. An internet site for GIWA has since gone on-line.
