Upbit Launches GIWA Blockchain to Boost Web3 Access
Upbit unveils GIWA, a new Ethereum Layer 2 blockchain built to simplify Web3 adoption with fast speeds and EVM compatibility.
- Upbit introduces GIWA, its own Layer 2 blockchain.
- Built on OP Stack, it enables fast, low-cost Web3 access.
- GIWA supports Solidity and full EVM compatibility.
South Korea’s largest crypto exchange, Upbit, has officially launched GIWA (Global Infrastructure for Web3 Access)—its own Ethereum Layer 2 blockchain. Designed to break down barriers for developers and users entering Web3, GIWA aims to make blockchain-based applications faster, more scalable, and easier to build on.
This move represents a significant step in Upbit’s long-term strategy to expand its influence beyond trading and into blockchain infrastructure. GIWA promises high performance with 1-second block times and full compatibility with the Ethereum Virtual Machine (EVM), enabling seamless migration of existing Solidity-based smart contracts and tools.
Built on OP Stack for Better Performance
GIWA is constructed using the OP Stack, the same open-source development stack used by Optimism, another leading Ethereum Layer 2 solution. This foundation provides GIWA with reliable scalability and decentralization benefits while keeping transaction costs low.
Developers building on Ethereum will find it easy to switch to GIWA thanks to its EVM compatibility. This means current Ethereum tools, wallets, and dApps can run smoothly on GIWA without needing significant adjustments. The platform’s 1-second block time also ensures a quicker and more responsive user experience, vital for DeFi and gaming applications.
Giwa Website Teased Launch with Countdown
Before the official reveal, Upbit had launched a teaser website featuring a live countdown, sparking curiosity in the crypto community. The website, now active, provides further details about the blockchain’s technical specifications and future ecosystem plans.
GIWA’s release signals a shift in Upbit’s role in the blockchain space, from being just a trading hub to becoming a key infrastructure provider. As the Web3 space grows, solutions like GIWA can play a crucial role in onboarding new users and developers by reducing complexity and costs.
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