Dunamu, the parent company of the famous South Korean Cryptocurrency Exchange Upbit, opened its own web3 infrastructure brand Giwa at the Upbit Developer Conference (UDC) In Seoul.
The Seoul Giwa-based company is designed to make blockchain technology more accessible to developers and users in Korea and abroad.
Giwa, short for “Global Infrastructure for Web3 Access,” with the Giwa Chain, a layer-2 blockchain built on Optimistic Rollup Technology.
Dunamu drew similarities between the traditional roof tile of blockchain and Korea, known as “elephant“Which layer to form strong structures. Similarly, the Giwa chain is intended to stack the data securely while enabling contract-based applications, the company said. Giwa chain, added, is available on Testnet.
Meanwhile, the Giwa Wallet, is available for demo use during the conference and expands blockchain support in the future. The official date of launch of the wallet, Dunamu added, has not been determined.
Dunamu framed Giwa in response to the US global dominance and Singapore-based ecosystems. By offering local infrastructure, it expects to draw more Korea developers on the web3.
Rumors surrounding Giwa’s launch began to spread earlierAfter trademark applications from the firm were seen online. A website for Elephant since lost online.
