What you need to know:
- Dunamu, the operator of Upbit, has launched its Web3 brand GIWA at the Upbit Developer Conference in Seoul.
- GIWA features the GIWA Chain, a layer-2 blockchain leveraging Optimistic Rollup technology, and the GIWA Wallet, a mobile application for managing and transferring digital assets.
- This announcement follows online speculations about trademark registrations linked to the initiative.
Dunamu’s introduction of GIWA aims to simplify blockchain technology for developers and users both domestically and internationally.
GIWA, short for “Global Infrastructure for Web3 Access,” comprises the GIWA Chain, a layer-2 blockchain based on Optimistic Rollup technology, and a wallet app that facilitates digital asset management across multiple chains including Ethereum, Arbitrum, Avalanche, Base, Polygon, as well as its own GIWA Chain.
According to Dunamu, the GIWA Chain is analogous to Korea’s traditional roofing tiles, known as “giwa,” which are layered to create resilient structures. The GIWA Chain also aims to securely stack data to enable smart contract applications. Currently, the GIWA Chain is in a testing phase.
The wallet is available for demonstration at the conference, but its official launch date remains undecided.
Dunamu positions GIWA as a local response to the leading blockchain frameworks located in the U.S. and Singapore, hoping to entice more Korean developers into Web3.
Speculation about GIWA’s launch began when trademark applications from Dunamu were noticed online. Additionally, a website for GIWA has been made available.
