Onyx has launched Goliath, a Layer-1 blockchain designed for monetary establishments. The undertaking goals to supply a scalable and safe infrastructure for banks and monetary service suppliers.
Onyx says Goliath will provide transaction speeds corresponding to networks like Visa, which processes 24,000 transactions per second. It’s a daring declare, and the mainnet launch will replicate how true this may be.
Onyx Goliath Will Present Excessive-Pace Transactions with Proof-of-Stake
Goliath will use a Proof-of-Stake (PoS) consensus mechanism to assist high-speed transactions. PoS reduces power consumption by choosing validators based mostly on the variety of tokens staked.
In keeping with the announcement, the undertaking builds on XCN Ledger. Onyxcoin already makes use of it as a Layer-3 roll-up resolution inside the Onyx ecosystem.
Goliath will function independently as a Layer-1 blockchain however will stay interoperable with current monetary networks.
Additionally, Onyx has outlined key milestones for the undertaking. The testnet will probably be deployed in Q3 2025, whereas the mainnet launch will happen in early 2026.
In the meantime, Onyx can also be launching a Factors Program for its Layer-3 XCN Ledger. Members who bridge belongings like WETH, USDT, CBTC, and USDC from the Base blockchain to Onyx will obtain incentives.
“Onyx Goliath is a revolutionary Layer 1 blockchain geared toward reshaping international finance. Designed for banks and monetary establishments, it guarantees unmatched scalability, safety, and velocity,” Onyx staff wrote on X (previously Twitter).
Whereas Goliath will introduce a brand new blockchain layer, XCN will stay on Ethereum. The token will probably be bridged to the brand new community, sustaining compatibility with DeFi platforms.
XCN fell over 11% in the present day, however a significant drop occurred hours earlier than the Goliath announcement. The crypto market has taken a severe beating in the present day, as bearish information from the Federal Reserve has mixed with different financial woes to crater the large pump from this weekend.
Certainly, shortly after Onyxcoin jumped up this month, there was a mass exodus of outdated buyers. The staff made a valiant effort to regain this sliding momentum, but it surely slid 50% in February. Earlier in the present day, a whale-led breakout try failed, and it doesn’t appear like Goliath will do a lot to halt XCN’s slide both.
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