Onyx Introduces Goliath: A Next-Level Blockchain Solution

Onyx has officially launched Goliath, an innovative Layer-1 blockchain tailored for financial institutions. This project is set to deliver a scalable and secure infrastructure aimed at serving banks and financial service providers.

According to Onyx, Goliath is designed to achieve transaction speeds that could rival major payment networks such as Visa, which handles an impressive 24,000 transactions per second. This ambitious claim will be tested with the upcoming mainnet launch.

High-Speed Transactions with Proof-of-Stake

Goliath will employ a Proof-of-Stake (PoS) consensus mechanism, facilitating rapid transactions while minimizing energy consumption through a selection process based on staked tokens.

Building on the XCN Ledger, as detailed in their announcement, Onyxcoin utilizes this platform as a Layer-3 roll-up solution within the broader Onyx ecosystem.

The new Layer-1 blockchain will operate independently yet maintain interoperability with existing financial networks, ensuring seamless integration.

Onyx has also laid out key milestones for Goliath’s development, with a testnet set to launch in Q3 2025 and a mainnet debut anticipated in early 2026.

In conjunction with Goliath, Onyx is rolling out a Points Program for its Layer-3 XCN Ledger. Participants who transfer assets like WETH, USDT, CBTC, and USDC from the Base blockchain to Onyx can earn incentives.

“Onyx Goliath is a revolutionary Layer-1 blockchain aimed at reshaping global finance. Designed for banks and financial institutions, it promises unmatched scalability, security, and speed,” stated the Onyx team on social media.

While Goliath signifies a new chapter for the Onyx project, it’s worth noting that XCN will continue its presence on the Ethereum network, with plans to bridge tokens to the new blockchain, ensuring compatibility with DeFi platforms.

Despite the optimism around Goliath, XCN’s price experienced a drop of over 11% today, following a significant decline that occurred just before the announcement. The broader crypto market has been struggling, influenced by bearish news from the Federal Reserve among other economic challenges.

After a recent surge in Onyxcoin’s value, there was an observable shift as many older investors exited the market. While efforts to regain market momentum were made, XCN has seen notable drop-offs, including a 50% plunge in February alone. Today, a breakout attempt led by major investors fell short, raising concerns that Goliath may not be sufficient to stabilize XCN’s declining trajectory.