South Korea’s largest crypto exchange said the new Ethereum-based network is being launched with backing from Optimism Foundation (organization supporting the Optimism ecosystem).
Upbit, described in the source as South Korea’s largest crypto exchange, has launched an Ethereum blockchain with support from Optimism Foundation (organization supporting the Optimism ecosystem). The announcement indicates a move by a major exchange to expand beyond trading services into blockchain infrastructure. Building on Ethereum can give projects access to a widely used smart contract (self-executing blockchain code) ecosystem, while Optimism-related support points to scaling technology designed to improve transaction efficiency and reduce costs on Ethereum.