Asia's Blockchain Giant Rivals Ethereum's Speed With One-Second Breakthrough

Upbit, one of the largest cryptocurrency exchanges in Asia, has launched a new Ethereum Layer-2 testnet called Giwa, which is designed to process transactions with one-second block times. The testnet is part of Upbit’s broader initiative to enhance scalability and transaction speed in the Ethereum ecosystem, addressing a persistent challenge for widespread blockchain adoption . Giwa is built using a custom implementation that leverages Ethereum’s existing infrastructure while optimizing for faster finality and reduced congestion .

The introduction of Giwa comes as many Ethereum-based projects seek more efficient alternatives to the base layer, especially with the recent Ethereum merge shifting the network’s consensus mechanism from proof-of-work to proof-of-stake. Upbit’s move aligns with a growing trend of developers and exchanges exploring Layer-2 solutions to mitigate high gas fees and slow transaction times on the mainnet . Giwa is currently in the public testing phase, allowing developers and users to experiment with its features and provide feedback to further refine the system .

According to Upbit’s technical documentation, Giwa utilizes a modular architecture that separates execution, consensus, and data availability, enabling parallel processing of transactions without compromising security . The one-second block time is achieved through a combination of optimized consensus algorithms and efficient data compression techniques. While the testnet does not currently support smart contracts, the roadmap includes plans to integrate full EVM compatibility in future phases .

Analysts view Giwa as a strategic step for Upbit to solidify its position as a leader in blockchain innovation within the Asia-Pacific region. The testnet’s performance metrics, including block finality and throughput, are reportedly among the most competitive in the Ethereum Layer-2 space . If successful, the platform could serve as a foundation for future mainnet deployments and potentially reduce dependency on centralized solutions for high-throughput applications .

Upbit has also announced plans to collaborate with open-source developers and academic institutions to further enhance the Giwa platform. The company emphasized its commitment to open development and community-driven innovation, reflecting a broader shift in the cryptocurrency industry toward decentralized governance and collaborative development practices . Early testing results have shown promising performance, with the testnet handling thousands of transactions per second with minimal latency .

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