Onyx has introduced Goliath, a low-1 blockchain designed for financial institutions. The project is intended to offer a scalable and safe infrastructure for banks and financial service providers.
Onyx says that Goliath will offer transaction speeds that are comparable to networks such as Visa, which processes 24,000 transactions per second. It is a daring claim and the mainnet launch will reflect how where this could be.
Onyx Goliath will provide high-speed transactions with proof-of-stake
Goliath will use a proof-of-stake (POS) consensus mechanism to support high-speed transactions. POS reduces energy consumption by selecting validators based on the number of stood tokens.
According to the announcement, the project builds on XCN Ledger. Onyxcoin already uses it as a Layer-3-Oprolling solution in the Onyx ecosystem.
Goliath will operate independently as a low-1 blockchain, but will remain interoperable with existing financial networks.
Onyx has also outlined important milestones for the project. The test network will be implemented in Q3 2025, while the Mainstet launch will take place at the beginning of 2026.
In the meantime, Onyx is also launching a point program for his Layer-3 XCN whides book. Participants who bridge assets such as Weth, USDT, CBTC and USDC from the base blockchain to Onyx receive incentives.
“Onyx Goliath is a revolutionary layer 1 blockchain aimed at reforming global financing. Designed for banks and financial institutions, it promises unparalleled scalability, security and speed, ”wrote Onyx team on X (formerly Twitter).
While Goliath will introduce a new blockchain layer, XCN remains on Ethereum. The token is bridged to the new network, which maintains compatibility with Defi platforms.
XCN fell more than 11%today, but a large drop took place for hours for the announcement of Goliath. The Cryptomarkt took a serious blow today, because Bearish News from the Federal Reserve has combined with other economic misery to crater the big pump of this weekend.
Indeed, shortly after Onyxcoin had risen this month, there was a massive exodus of old investors. The team made a brave attempt to regain this sliding momentum, but it slipped 50% in February. Earlier today, a whale -led attempt failed, and it seems that Goliath will also do a lot to stop XCN’s slide.