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

Onyx has introduced Goliath, a Layer-1 blockchain designed for financial institutions, aiming to provide a scalable and secure infrastructure for banks and financial service providers.

Onyx states that Goliath will offer transaction speeds comparable to networks like Visa, which processes 24,000 transactions per second. The true capabilities will be showcased during the mainnet launch.

High-Speed Transactions with Proof-of-Stake

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

The project builds on the XCN Ledger, with Onyxcoin already utilizing it as a Layer-3 roll-up solution within the Onyx ecosystem. Goliath will act as a Layer-1 blockchain, maintaining interoperability with existing financial networks.

Onyx has outlined significant milestones for the Goliath project: the testnet is set to be deployed in Q3 2025, followed by the mainnet launch in early 2026.

Additionally, Onyx is launching a Points Program for its Layer-3 XCN Ledger. Participants who bridge assets like WETH, USDT, CBTC, and USDC from the Base blockchain to Onyx will receive incentives.

> Onyx team stated on X (formerly Twitter), “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.”

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

Despite the announcement, XCN experienced a decline of over 11% today, compounded by bearish news from the Federal Reserve and broader economic issues. Following a recent spike, there was a mass exit of old investors, leading to a 50% drop in February. A recent whale-led breakout attempt failed, suggesting Goliath may not significantly change XCN’s downward trend.