Upbit, a leading South Korean crypto exchange operated by Dunamu, recently focused on launching the GIWA Chain, a Layer-2 blockchain using Optimistic Rollup technology, during their Developer Conference.
The GIWA Chain aims to enhance liquidity and developer integration within the blockchain ecosystem, potentially impacting major tokens like ETH and ARB as the project progresses.
Upbit Embraces Optimistic Rollup in GIWA Chain Launch
Upbit, operated by Dunamu, recently announced the launch of the GIWA Chain testnet utilizing Optimistic Rollup technology. The event was highlighted at the Upbit Developer Conference (UDC), emphasizing Upbit’s commitment to enhancing its blockchain ecosystem. A notable remark during the UDC conference was made by Sirgoo Lee, CEO of Dunamu, who stated, “We envision GIWA Chain as a primary hub that will elevate not only our platform but also the entire ecosystem.” source
The GIWA Chain aims to be a hub for liquidity and developers. Upbit’s focus on this project underscores their strategic pivot towards advancing Korea’s role in Web3. Leadership has not commented on any NFT art drop by Chae-on as discussed in recent reports.
Crypto Tokens Face GIWA Chain Testnet Surge
No official records or statements from Upbit or Dunamu refer to an NFT event called “Chae-on Drops.” Currently, the blockchain community’s attention is oriented towards GIWA Chain’s potential impact on tokens like ETH, ARB, and other EVM-compatible coins.
The GIWA Chain’s launch is poised to offer significant technological outcomes by facilitating multi-chain wallet capabilities. As the testnet progresses, trends in liquidity and staking may emerge, influencing related cryptocurrency values and developer engagement.
Comparing Upbit’s Chain Strategy with Global Exchanges
Upbit’s history of supporting blockchain projects resembles other exchanges launching Layer-2 solutions, such as Coinbase’s Base network. Previous NFT initiatives have typically been accompanied by official communications, lacking in the “Chae-on Drops” scenario.
Experts from Kanalcoin suggest that without further details or announcements, immediate impacts are focused on GIWA Chain’s capabilities. Analysts watch closely to see whether this will elevate Korea’s presence in blockchain technology.
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