Upbit's developer conference set to attract thousands of experts

September 5. 2022



By Lee Min-hyung

Upbit, the nation's largest cryptocurrency exchange, is set to attract thousands of experts from Korea and abroad during its upcoming annual developer conference.

The Upbit Developer Conference (UDC) 2022 will kick off its two-day run in the nation's southern port city of Busan on Sept. 22. Dunamu, the operator of Upbit, expects more than 3,000 people ¡ª here and abroad ¡ª to attend the event where a group of 50 officials from the blockchain industry will also deliver speeches on the latest digital trends.

The event is one of the nation's largest annual blockchain conferences that will mark its fifth anniversary this year. Upbit has held the conference online for the past two years due to the COVID-19 pandemic. However, the event went offline in 2022 in line with eased social distancing rules.

Under the key theme of "Imagine your Blockchain Life," this year's UDC will start with a welcome speech by Song Chi-hyung, co-founder and chairman of Dunamu. Renowned blockchain specialists will then share their insights on the future of the industry. They include Tron founder Justin Sun, The Sandbox co-founder Sebastien Borget and Matt Sorg who leads Solana's tech and product.

"The blockchain industry is entering a phase of taking a major leap forward in its scale, content and sustainability," Song said during a welcome speech at the UDC in 2021.

The UDC is growing in size at a rapid pace each year amid the rise of cryptocurrencies and digital contracts. Dunamu expects the event to become a global developer conference featuring a diverse range of content including panel discussions and on-site exhibits.

Attendees are advised to keep an eye on three key sessions ¡ª smart contracts, Layer 2 blockchain and interchain bridge technology.

The smart contract refers to a kind of automated contract between a contract creator and a recipient. The self-executing contract is stored on a blockchain network. When smart contracts become more popular, a series of conventional contracts in areas such as finance and real estate transactions are expected to become simplified and will no longer need brokers.

Layer 2 blockchain is also the talk of the town globally amid growing calls to solve problems in the underlying main Layer 1 blockchain. Bitcoin and Ethereum are considered Layer 1 blockchains. Under the Layer 2 blockchain, contracts will become much faster and safer.

Dunamu and Upbit will also run a special non-fungible token (NFT) gallery during the two-day event. Visitors can enjoy 15 NFT artworks. They can also experience state-of-the-art blockchain technologies offered by industry-leading firms here and abroad.

Selected articles from The Korea Times