South Korea’s largest crypto exchange Upbit launches Ethereum blockchain with Optimism Foundation support
The Block
Upbit is partnering with the Optimism Foundation to launch the GIWA Chain, a new self-managed Ethereum Layer 2 blockchain using the OP Stack.Summary
South Korea’s major crypto exchange, Upbit, has partnered with the Optimism Foundation to develop a new Ethereum Layer 2 blockchain called the GIWA Chain. This project utilizes the OP Stack and marks the first implementation of Optimism's 'Self-Managed' tier for OP Enterprise. Unlike fully managed chains, the Self-Managed model allows Upbit to maintain operational control over its sequencer, a critical requirement for a large, regulated institution. Optimism will provide technical support, including monitoring and backup systems, to ensure the network's resilience. The GIWA Chain is currently live on a testnet, allowing Upbit to maintain infrastructure autonomy while benefiting from Optimism’s technical framework.
(Source：The Block)