Onyx Introduces Goliath: A Layer-1 Blockchain for Financial Institutions

Onyx has introduced Goliath, a Layer-1 blockchain designed specifically for financial institutions. The project’s goal is to provide a scalable and secure infrastructure for banks and financial service providers.

Onyx claims that Goliath will offer transaction speeds comparable to networks like Visa, which processes 24,000 transactions per second. This bold claim will be tested during the mainnet launch.

High-Speed Transactions with Proof-of-Stake

Goliath will utilize a Proof-of-Stake (PoS) consensus mechanism to support high-speed transactions. This PoS approach reduces energy consumption by selecting validators based on the number of tokens staked.

According to the announcement, Goliath is built on the XCN Ledger, which is already used by Onyxcoin as a Layer-3 roll-up solution within the Onyx ecosystem. Goliath will operate independently as a Layer-1 blockchain while remaining interoperable with existing financial networks.

Onyx has detailed key milestones for the Goliath project, with the testnet expected to be deployed in Q3 2025 and the mainnet launch planned for early 2026.

Simultaneously, Onyx is launching a Points Program for its Layer-3 XCN Ledger. Participants who bridge assets such as WETH, USDT, CBTC, and USDC from the Base blockchain to Onyx will receive 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 X (formerly Twitter).

While Goliath will introduce a new blockchain layer, the XCN token will remain on Ethereum. The token will be bridged to the new network, maintaining compatibility with DeFi platforms.

Recently, XCN saw a decline of over 11%, with a significant drop occurring just hours before the Goliath announcement. The entire crypto market has been facing challenges due to bearish news from the Federal Reserve coupled with other economic issues, which have negatively impacted price movements following an earlier pump over the weekend.

Despite a surge in Onyxcoin’s value earlier this month, there has been an exodus of older investors. Attempts to regain positive momentum have failed, with XCN dropping 50% in February. The latest news suggests that Goliath may not significantly halt this downward trend for XCN.