Dunamu Introduces GIWA, a Layer-2 Blockchain Ecosystem

Dunamu, the operator behind the prominent South Korean cryptocurrency exchange Upbit, has officially launched its Web3 infrastructure brand, GIWA, at the Upbit Developer Conference in Seoul. The brand is aimed at making blockchain technology more approachable for both developers and users globally. GIWA, an acronym for Global Infrastructure for Web3 Access, features the GIWA Chain, a layer-2 blockchain that leverages Optimistic Rollup technology, and the GIWA Wallet, a mobile application that facilitates the storage and transfer of digital assets across multiple blockchains, including Ethereum, Base, Arbitrum, Avalanche, Polygon, and its own GIWA Chain. Drawing inspiration from traditional Korean roof tiles, known as giwa, which stack to form robust structures, Dunamu envisions the GIWA Chain as a secure, layered data system that enables smart contract-based applications. Currently, the GIWA Chain is available in testnet, while the GIWA Wallet is available for demo during the conference, with plans to expand its blockchain support in the future. By introducing GIWA, Dunamu aims to provide local infrastructure, thereby encouraging more Korean developers to participate in the Web3 ecosystem, in response to the dominance of US and Singapore-based blockchain ecosystems. Prior to the official launch, speculation about GIWA's introduction began circulating after the company's trademark applications were discovered online, and a dedicated website for GIWA has since been made available.