The post Upbit Launches GIWA: South Korea’s Ethereum Layer 2 Blockchain appeared first on Coinpedia Fintech News
Upbit, a leading digital asset exchange in South Korea, has introduced its innovative Ethereum Layer 2 blockchain solution, named GIWA. Constructed using the OP Stack framework, GIWA is engineered to enhance transaction speeds with rapid 1-second block confirmations. A key feature is its complete compatibility with the Ethereum Virtual Machine (EVM), allowing for seamless migration of Solidity-based smart contracts and associated development resources. GIWA’s primary objective is to simplify entry into the Web3 ecosystem by delivering faster and more cost-effective transaction processing capabilities. The unveiling follows a period of heightened anticipation, fueled by a dedicated teaser website featuring a countdown timer leading up to the official announcement at Upbit’s developer conference.