Crypto Exchange Upbit Operator Develops Blockchain Service Platform Luniverse

Announcements, Blockchain | March 20, 2019 By:

South Korean FinTech firm Dunamu, operator of crypto exchange Upbit, has developed a new consortium-based blockchain service platform.

First announced in September 2018, the platform, called Luniverse, was developed by Dunamu’s research arm Lamda256 and will be spun off as a subsidiary. Jae-hyun Park, former head of research at Lambda256, will be the inaugural CEO of the new company.

Luniverse aims to address the limitations of existing infrastructures and promises partners looking to adopt blockchain technology into their businesses a “versatile and effective solution.” The platform will reportedly offer cloud-based solutions to build, host and maintain a blockchain.

“In the past, a lot of companies built their own blockchain, but an alternative is outsourcing the establishment of a blockchain in the form of a service offered on cloud systems,” said Jae-hyun Park. “Luniverse helps firm create their own mainnet. It gives freedom and sole control of the platform to the firm to decide features and their blueprint.”

According to Lambda256, Luniverse partners get access to side chain solutions that offer improved performance and greater stability, with notable features that include development tools, proxy mechanisms to ensure uninterrupted service, easy account control, user data backup and management support, security assessment for smart contracts, data privacy features, and auto-scaling systems to meet traffic demands.

Next month, Lambda256 said that seven companies, including E4Net, KStarLive, Humanscape, Aha, Ziktalk, Storichain, and Mossland, are going to launch blockchain services developed using the Luniverse platform.