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Market sources report that GIWA, a project launched by Upbit, is being developed as an Ethereum Layer 2 solution targeting 1-second block finality. The network has entered testnet phase, allowing teams to validate reduced latency, improve throughput and assess state transition integrity under controlled conditions. Upbit is also preparing a companion GIWA Wallet to facilitate user onboarding and transaction management within the Layer 2 environment, with emphasis on staged deployment and security reviews rather than immediate mainnet settlement. Market participants should await official communications, audit reports and formal timelines from Upbit before adjusting custody or integration strategies.
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