Upbit recently launched its own public chain, GIWA.
This actually continues a trend: almost all major exchanges are building their own public chain ecosystems.
Binance has BNB Chain, and Coinbase has launched Base.
Currently, GIWA's features or focus may lie in Dojang and GIWA ID.
The former allows off-chain information to be verified and put on-chain.
The latter can be understood as ENS on L2, but it is also linked to real-world KYC.
This Web3 version of a "username" seems simple, but it replaces complex wallet addresses, making transfers and interactions more intuitive, lowering the barrier for users outside the crypto space to enter Web3.
From this perspective, GIWA is not simply trying to compete on performance or fees, but is attempting to expand the application scenarios of blockchain with a user-friendly identity system.
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