WuBlockchain
Zilliqa plans to move from a standalone Layer 1 blockchain to an Ethereum Layer 2 called the Zilliqa Institutional Layer, citing insufficient usage to sustain its legacy chain as an independent network.
The new network will use Ethereum for settlement and include identity and compliance mechanisms, alongside permissioned markets for verified institutional participants. Zilliqa said tokenholders do not currently need to take action and that technical details will be released ahead of the transition.
Founded in 2017 by a National University of Singapore research team, Zilliqa raised approximately $22 million across seed and ICO rounds between late 2017 and early 2018. Its backers included Polychain Capital, FBG Capital and NGC Ventures.
Frequently asked questions
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Why is Zilliqa leaving its standalone chain?
Zilliqa said usage on its legacy chain was insufficient to sustain standalone operations.
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Who is the Zilliqa Institutional Layer designed for?
The network targets regulated institutions and will offer permissioned markets for verified participants.
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What role will Ethereum play in the new network?
The Zilliqa Institutional Layer will use Ethereum for settlement.
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Do Zilliqa tokenholders need to take action?
Zilliqa said tokenholders do not currently need to take action. Technical details will be released ahead of the transition.
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Who backed Zilliqa's earlier fundraising rounds?
Zilliqa's backers included Polychain Capital, FBG Capital and NGC Ventures. The project raised approximately $22 million across seed and ICO rounds.
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