Dunamu, the company behind the well-known South Korean cryptocurrency exchange Upbit, has introduced a new Web3 infrastructure brand named GIWA during the Upbit Developer Conference (UDC) held in Seoul. This initiative aims to enhance accessibility to blockchain technology for developers and users both in Korea and internationally.
GIWA—an acronym for “Global Infrastructure for Web3 Access”—incorporates several key components, including the GIWA Chain and GIWA Wallet. The GIWA Chain is a layer-2 blockchain developed using Optimistic Rollup technology, which is designed to facilitate secure data stacking and enable smart contract-based applications. Currently, it is available in a testnet phase, allowing developers to experiment and provide feedback on its capabilities.
The GIWA Wallet is a mobile application that enables users to store and transfer digital assets across various blockchain networks, such as Ethereum, Base, Arbitrum, Avalanche, and Polygon, in addition to the GIWA Chain. While a demo version is being showcased at the conference, the official launch date for the wallet has not yet been announced. However, there are plans for increasing blockchain support within the app in the future.
Dunamu has compared the concept of GIWA to Korea’s traditional roof tiles, referred to as “giwa,” which are known for their layered construction that results in durable structures. This analogy emphasizes how the GIWA Chain aims to securely stack data and pave the way for innovative applications.
The creation of GIWA is partly a strategic move to counterbalance the influence of dominant blockchain ecosystems based in the U.S. and Singapore. By establishing a local infrastructure, Dunamu intends to attract a greater number of Korean developers to the Web3 space. Leading up to the conference, speculation about GIWA’s launch intensified following the discovery of trademark applications filed by Dunamu, and a dedicated website has since been launched to provide further information about the brand.
