Dunamu unveils Web3 infrastructure brand 'GIWA'..."Chain · Wallet launching soon"

Dunamu, which operates the domestic virtual asset (cryptocurrency) exchange Upbit, unveiled the Web3 infrastructure brand 'GIWA' at the 'Upbit D Conference (UDC)' held on the 9th at the Grand InterContinental Parnas in Gangnam-gu, Seoul.

GIWA, an acronym for 'Global Infrastructure for Web3 Access', aims to provide easy and accessible Web3 infrastructure that anyone can use. The name 'GIWA' conveys the intent to protect blockchain data safely, like the roof tiles in traditional architecture that have been layered to shield against wind and rain.

The newly unveiled 'GIWA Chain' is a Layer 2 blockchain based on an optimistic rollup architecture. Optimistic rollup is a Layer 2 scaling solution designed to improve the efficiency and scalability of the Ethereum (ETH) blockchain. It is designed to enhance Ethereum's scalability and efficiency, and a testnet version is currently operating.

Dunamu also unveiled the 'GIWA Wallet'. It is a mobile wallet integrated with GIWA Chain, allowing users to store, send, and manage virtual assets directly. The service is free of charge, and it will initially support Ethereum, Base, Optimism, Arbitrum, Polygon, Avalanche, and GIWA Chain. More chains will be added sequentially in the future. The official launch date is undecided, but a demo app was made available to try at the exhibition booth at the UDC venue that day.

A Dunamu official said, "Through GIWA, we will support domestic developers in developing and scaling various blockchain services," adding, "As the blockchain ecosystem currently revolves mainly around overseas markets such as the United States and Singapore, leaving the domestic market virtually marginalized, GIWA will provide a stepping stone for more domestic developers and users to enter the Web3 ecosystem."