Onyx Launches Goliath, a Layer-1 Blockchain for Financial Institutions
Onyx has launched Goliath, a new Layer-1 blockchain for financial institutions aimed at achieving Visa-level transaction speeds of up to 24,000 transactions per second. It utilizes a Proof-of-Stake (PoS) consensus mechanism for energy efficiency and reduced carbon footprint.
Key points include:
- Scalable and secure infrastructure for banks and financial service providers
- Interoperability with existing financial networks
- Testnet launch planned for Q3 2025 and mainnet release in Q1 2026
- Introduction of a Points Program rewarding asset bridging from Base blockchain to Onyx
Despite the announcement, Onyxcoin’s token (XCN) dropped over 11%, continuing a trend influenced by broader market declines due to Federal Reserve news. XCN experienced a 50% loss in February following a brief rally.
The Goliath project highlights advancements in blockchain technology for finance, focusing on scalability, security, and energy efficiency, though it faces strong competition.