Upbit announces Ethereum Layer 2 using OP Stack

Key Takeaways

Upbit, a leading South Korean crypto exchange, plans to launch an Ethereum Layer 2 network.
The new Layer 2 will use the OP Stack framework, based on Optimism’s open-source technology.

Upbit announced plans to launch an Ethereum Layer 2 network using OP Stack technology, according to documentation released today.

The South Korean crypto exchange will deploy the scaling solution built on Optimism’s open-source OP Stack framework. The Layer 2 network aims to reduce transaction costs and increase processing speeds for users while maintaining compatibility with the Ethereum mainnet.

OP Stack provides the underlying infrastructure that powers Optimism’s Layer 2 solution and enables other projects to build their own custom blockchain networks. The technology uses optimistic rollups to bundle transactions off the main Ethereum chain before settling them on the base layer.

Upbit operates as one of South Korea’s largest digital asset trading platforms. The exchange has not disclosed a timeline for the Layer 2 network’s launch or specific technical specifications for the implementation.