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I’ve been watching how crypto exchanges are slowly trying to take more control over their own systems, and in my search I came across something really interesting about Dunamu, the company behind Upbit. I start to know about that they are now working closely with the Optimism Foundation to build something called GIWA Chain, and honestly it feels like a big step for the future of crypto platforms.

So what I understand is that GIWA Chain is a Layer 2 blockchain built on top of Ethereum. In simple words, Layer 2 means it sits on top of Ethereum and makes things faster, cheaper, and smoother without changing the main network. I have seen many projects try this, but here the difference is that Upbit wants to fully control their own chain instead of depending on someone else.

They are using something called the OP Stack from Optimism. I researched on it and found that this is like a toolkit that helps companies build their own blockchain using proven technology. It will have fast performance, like one second block times, which means transactions happen very quickly. It also supports EVM, which basically means developers who already build on Ethereum can easily build on this chain without learning something new.

What really caught my attention is that GIWA Chain is already running on testnet and has processed almost 100 million transactions. That tells me they are not just planning, they are already testing it at a serious level. And they are preparing for mainnet launch soon, which is when real users and real money come in.

Now here is where things get even more interesting. This chain will be part of something called OP Enterprise, but in a self managed way. I start to know about that this means Upbit will have full control. They will manage the main system that processes transactions, known as the sequencer, and they will make all key decisions about how the network runs. At the same time, Optimism will still support them with monitoring and backup systems so things don’t break.

From what I have seen, this shows a bigger trend. Big exchanges don’t want to rely on public infrastructure anymore. They want to own the chain where their users are active. It gives them better control over performance, security, and even compliance with regulations.

Upbit is not a small player. I found that they have more than 13 million users and have been one of the top exchanges globally in trading volume over the past few years. So when a company of this size decides to build its own blockchain, it says a lot about where the industry is heading.

Another thing I noticed is their future plan. Dunamu is working toward a merger with Naver Financial, which could create a massive fintech ecosystem. If that happens, GIWA Chain will become the backbone of that system. I have seen mentions that they are even planning to integrate Korean won based stablecoins for real world payments. That means this chain will not just be for trading crypto, but also for everyday financial use.

From my perspective, this move is not just about technology, it’s about power and control. Exchanges are evolving into full ecosystems. They don’t just want users to trade, they want users to stay inside their network for everything.

In my search, I realized that GIWA Chain could be one of the first real examples of an exchange owning its own scalable blockchain while still using trusted infrastructure. If this works well, many other big platforms might follow the same path.

It feels like we are moving toward a future where every major platform has its own chain, and users might not even realize they are using blockchain behind the scenes.

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#layer @LAYER $LAYER
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