Upbit Launches GIWA: South Korea’s Ethereum Layer 2 Blockchain

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South Korea’s largest crypto exchange, Upbit, unveiled GIWA, its own blockchain built on Ethereum Layer 2 using OP Stack. GIWA offers fast 1-second block times and full compatibility with Ethereum’s EVM, making it easy to migrate Solidity contracts and tools. The blockchain aims to lower barriers for Web3 entry, enabling faster, cheaper transactions. Upbit had previously launched a teaser website with a live countdown, building anticipation ahead of the official reveal at its developer conference.