Borderless Financial Platform – Luniverse Layer2 Blockchain Applied for Gluwa
Gluwa, as a global financial service platform, created a sustainable cycle of profit through enabling anyone from all over the world to use borderless financial service. Gluwa try to make data transparency which is future core vision to be innovative and can be trusted using blockchain technology using Luniverse.
2021 Inclusive Fintech 50 Initiative champion
As of July 2022
As of July 2022
Borderless Financial Platform, Gluwa
글루와(Gluwa)는 금융 생태계의 근본적인 요소들을 공공 블록체인 중심으로 구현하여 국경 없는 금융 플랫폼을 만들고 있습니다. 지갑, 결제, 소액대출, 거래소 등 서비스 구성요소들을 유기적으로 통합하여 다양한 비즈니스 모델을 실현시킵니다.
Gluwa provides four core functions. First is wallet; Gluwa application makes your smartphone as hardware wallet. Second is payment; Gluwa provides two technology related to payment for better user experience. Also, it enables user to pay the commission through token instead of ethereum and provides fast and reasonable user experiences by establishing a side chain on Luniverse. Thirdly, Gluwa connects users’ wallets and provide exchange and token transfer function. At this moment, users will escrow the coin in smart contract or multi wallet not through any third party included. Last is profitable account. This is a way not only to provide flexibility in Gluwa ecosystem but also to provide option for wallet users to utilize their assets. Another product of Gluwa is Credit coin which is a public blockchain. Credit coin is credit trade network aiming to let anyone connected to internet to gain credit. Credit coin connects those who wants to lend money with those who wants to borrow money. Credit coin records all credit trade records through inflexibility feature of blockchain. Credit evaluation system chosen by investors objectively evaluates loan applicant’s credit based on the records. The ultimate goal that Gluwa aims is to make borderless financial platform to present a better life for everyone. Gluwa aims to expand the global market environment that everyone in the world can imagine.
Cost Cutting Effect of Luniverse Sidechain
Q. What is the ultimate reason of Gluwa to choosing Luniverse?
Gluwa coin gateway on Luniverse is a layer 2 solution for Gluwa coin based on Ethereum. All public blockchain including Ethereum cannot avoid facing cost challenges as their usage increases. Gluwa solves this problem using sidechain technology of Luniverse. Since Luniverse provides the external accessibility, connection between public blockchains such as credit coin, it can be connected with several public blockchain through development of plugin and Bitcoin, Etherium, ERC20, Gluwa coin plugins are being provided. Furthermore, connection of Gluwa coin within Luniverse will be provided through sidechain plug in.
- Easy management of multi-node
- Luniverse provides openness that can be accessed from outside.
- Lastly, it is compatible with Ethereum smart contract.
- Admin dashboard is provided so that non-developers can easily access.
As Gluwa applied Luniverse, they could experience excellent user experiences. Gluwa utilized Luniverse user manual and API documents resolving most of their problems. Dashboard allows not only non-developers but also those who use our service for the first time to quickly figure out the compositions of our service. It is especially helpful since most of their service management was operated by non-developers.
Q. How did Gluwa integrate Luniverse?
Gluwa has adopted two-way peg in order to connect Luniverse sidechain with Ethereum main network. First, if you want to move public blockchain to sidechain, the user should escrow by sending token to the gateway smart contractor distributed in Ethereum main network. Both Gluwa and Luniverse will read Ethereum main network respectively and verify the escrow and then report the data to site chain contractor. After the verification of both companies is done, escrowed token and same amount of token will be published from sidechain to the user. If you want to move sidechain to public blockchain, the user should discard the tokens in sidechain. Then, Gluwa and Luniverse will read the sidechain to prove the termination and report to the gateway smart contractor. After the verification of both companies is done, token of same amount of discarded token will be deposited to the user from gateway.
Luniverse Global Support
What is the global future of Luniverse?
Further types of smart contract will be supported and various types of smart contracts that have not been tested because of performance and cost in public blockchains, and smart contracts where the advantages of layer 2 are meaningful even if they are already active in public blockchains, will be transferred. East Asia, America, Nigeria and other companies will be supported with different tokens according to their region through layer 2 which is for more stable coin.
Blockchain applicable in financial services
Blockchain technology allows distributed financial service and product launches away from the closeness of the centralized traditional financial infrastructure. The possibility is being attempted in a wide variety of areas in finance, including payments using virtual assets, stable coins, tokenization of assets, crypto loans, decentralized exchanges, transaction security and user authentication. In addition, financial networks between banks and institutions which have taken a long time and cost can be operated more securely and faster through blockchain.
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