Zilliqa Ditches Its L1 to Become an Institutional Ethereum L2

Nine years after launch, Zilliqa is rebuilding as an identity-gated Ethereum L2, with Liechtenstein's LTIN running the sequencer. After nine years of running its own chain, Zilliqa is calling it. On Thursday (Nov. 5th), the ICO-era network admitted its standalone L1 “hasn’t worked” and said it’s relaunching as the Zilliqa Institutional Layer, an Ethereum L2 built for regulated institutions. Verified wallets only: Per Zilliqa’s revamped site , the new L2 will settle to Ethereum mainnet, but the only wallets allowed to transact are those linked to a verified vLEI.