DigitalX Shuts Down Its In-House Blockchain Silicon

South Korean cryptocurrency exchange DigitalX is shutting down its in-house layer-2 blockchain Silicon. The move comes after DigitalX exited its proprietary wallet business by closing its Korbit Web3 Wallet service, which was built on the Silicon blockchain.

The shutdown of Silicon will be gradual, with the testnet winding down over the coming months and the full shutdown expected by year-end. Users have until then to withdraw all assets held on Silicon, as deposits were suspended starting September 3rd.

Silicon was jointly developed in 2024 by DigitalX and South Korean blockchain companies Ozys and Hidow, with DigitalX benchmarking Coinbase's Base blockchain during its development.