Update
Zilliqa Moves to Ethereum Layer 2 for Institutional Use
Zilliqa, an Ethereum-based blockchain, will pivot to an Ethereum Layer 2 network for regulated financial institutions. The move follows weak adoption, declining funding, and rising security costs. The Zilliqa Institutional Layer (ZIL) will use Ethereum for security and add identity checks. The project will retain its existing token. Zilliqa disclosed an incident involving X-Bridge and ZRC2 proxy pools in October 27, and a Ledger application flaw in July. ZIL is currently trading at $0.001602 with $4.08 million in trading volume.