DigitalX to End Service for In-House Blockchain Silicon

DigitalX, the South Korean cryptocurrency exchange formerly known as Korbit, is shutting down service for its in-house layer-2 blockchain, Silicon.

According to the industry on Sept. 3, Silicon said in a developer notice on Sept. 2 that it will gradually wind down its testnet. The Silicon blockchain will be fully shut down by the end of this year.

Users must withdraw all assets held on Silicon by year-end. Deposits to Silicon were suspended starting Sept. 3.

The move comes as DigitalX exits its proprietary wallet business. Late last month, the company announced the closure of its Korbit Web3 Wallet service, which was built on the Silicon blockchain.

Silicon is a layer-2 blockchain jointly developed in 2024 by DigitalX and South Korean blockchain companies Ozys and Hidow.

At the time, DigitalX was known to have developed Silicon by benchmarking Coinbase's blockchain, Base.