Asian blockchain giants compete with Ethereum at a speed of breakthrough in one second

Upbit has launched Giwa, an Ethereum Layer-2 testnet with blocking time of one second, aiming to improve scalability and transaction speed. Built with a modular architecture, Giwa aims to optimize consensus and data compression and support high throughput, but currently lacks smart contract capabilities. The test network has opened public feedback and plans to be compatible with EVMs in the future and may be deployed to the mainnet.