[THE INVESTOR] JEJU ISLAND -- Lamda256, the research unit of Dunamu, operator of the nation’s largest crypto exchange Upbit, on Sept. 14 unveiled a more useful and easier blockchain developer tool, called Luniverse.

The Ethereum-based testnet will be launched on Sept. 18 before its official debut later this year. 

Lamda256 Jay Park

“It takes only 30 minutes to build the key structure of a DApp. We have greatly improved usability and productivity of the current blockchain development tools,” Lamda256 CEO Jay Park said during the Upbit Developer Conference held this week on Jeju Island.

Luniverse boasts improved usability, productivity and economic benefits as it allows developers to use its already-established development platform that is immediately adaptable for their planned services. Tech firms can save costs for hiring engineers and educating and managing them, while they are required to pay use-based fees throughout their issue of tokens and mainnet launch.

The CEO, a former Samsung Electronics engineer, pinpointed that the current development tools are not convenient and powerful enough.

“About 1,700 DApps are out there but their total daily users are just 7,700 people. It’s not an exaggeration to say that blockchain has failed,” he said. “Luniverse aims to help developers focus on their core values instead of struggling to handle these limitations.”

By Lee Ji-yoon (jylee@heraldcorp.com)