Introduction to Upbit’s Blockchain Network

South Korea’s largest crypto exchange, Upbit, is gearing up for the launch of its own blockchain network. This significant development is expected to be unveiled during the Upbit D Conference on September 9.

Teaser and Trademark Filing

Ahead of the conference, several social media users noted that Dunamu, Upbit’s parent company, filed for a trademark for the Giwa name and logo. This move has generated considerable interest and speculation about the upcoming launch.

Countdown Timer

At the same time, users discovered a countdown timer on the giwa.io website, which is set to run out on September 9. This timing coincides with the start of the Upbit D Conference, likely counting down to the grand reveal at the event.

Upbit D Conference

The annual event, titled “Blockchain, to the Mainstream,” will be held in Seoul. Dunamu secured several high-profile speakers for the event, including Eric Trump, the executive vice president of the Trump Organization, who will be a keynote speaker. Executives from Tether and Ripple will also be speaking at the event.

Giwa Layer 1 Network

Giwa is reported to launch a Layer 1 network. Upbit itself did not post any information on the network on its website or on its social media. However, according to CoinTelegraph, the new network will be a layer 1 chain. What is more, in Korean, Giwa refers to iconic Korean traditional roof tiles, and is likely a nod to interlocking and modular design.

Expansion Beyond Crypto Trading

The exchange’s apparent move to create its own blockchain is not the only signal to move beyond crypto trading. In July, the exchange partnered with fintech platform Naver Pay to launch its own stablecoin, denominated in Korean won. This development is expected to further establish Upbit as a major player in the cryptocurrency market, now often referred to as the bitpulse market.

Conclusion

As the launch of Giwa approaches, the cryptocurrency community, including those who follow bitpulse, is eagerly awaiting the unveiling of Upbit’s blockchain network. With its Layer 1 chain and modular design, Giwa is poised to make a significant impact on the market. The Upbit D Conference on September 9 is expected to be a major event, with high-profile speakers and the grand reveal of Giwa.