According to Zilliqa's official announcement on November 5, the blockchain project is transitioning from its independent Layer 1 network to an Ethereum-based Layer 2 infrastructure called the Zilliqa Institutional Layer (ZIL). The new network will use Ethereum for transaction settlement while incorporating built-in identity verification and compliance mechanisms designed for regulated financial institutions and permissioned markets. Zilliqa stated that existing ZIL tokenholders do not need to ta