Onyx Launches Goliath: Super Fast Layer-1 Blockchain for Financial Institutions!

Jakarta, Pintu News – Onyx, a leading blockchain technology company, has just announced the launch of Goliath, a Layer-1 blockchain designed specifically for financial institutions.

The move aims to provide a scalable and secure infrastructure for banks and financial service providers, marking a significant step in the integration of blockchain technology into the traditional financial sector.

Visa-Equivalent Transaction Speed with Proof-of-Stake Consensus

One of the key claims of Goliath is its ability to achieve transaction speeds comparable to networks like Visa, which processes around 24,000 transactions per second.

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To achieve this, Goliath will use a Proof-of-Stake (PoS) consensus mechanism, which selects validators based on the number of tokens they are staking. This approach not only improves transaction efficiency but also reduces energy consumption compared to the traditional Proof-of-Work (PoW) model.

With the adoption of PoS, Goliath is expected to offer a more environmentally friendly and energy-efficient infrastructure for financial institutions. This is in line with global efforts to reduce the carbon footprint in technology operations.

In addition, high transaction speeds will enable banks and financial service providers to process transactions in near-instantaneous time, improving their operational efficiency.

Integration with XCN Ledger and Existing Financial Networks

Goliath is built on top of the existing XCN Ledger, which is currently used as a Layer-3 solution within the Onyx ecosystem.

Despite operating as an independent Layer-1 blockchain, Goliath will remain interoperable with existing financial networks, ensuring seamless integration between traditional systems and the latest blockchain technology.

This interoperability is essential to ensure that financial institutions can adopt new technologies without having to completely overhaul their existing infrastructure. As such, Goliath offers a flexible and adaptive solution for the evolving needs of the financial industry.

Launch Schedule: Testnet and Mainnet

Onyx has set important milestones for the development of Goliath. The testnet is scheduled to launch in the third quarter of 2025, while the mainnet launch is planned for early 2026.

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The phases will allow the team to test the performance, security, and compatibility of the blockchain with the financial system before full implementation.

The testnet launch will provide an opportunity for developers and partners to evaluate Goliath’s functionality in a controlled environment. Following this, the mainnet launch will mark the full availability of Goliath for use by financial institutions around the world.

Points Program to Drive Adoption

In addition to Goliath, Onyx also launched a Points Program for their Layer-3 XCN Ledger. Participants who bridge assets such as WETH, USDT, CBTC, and USDC from the Base blockchain to Onyx will receive incentives. This initiative is designed to drive adoption and increase liquidity within the Onyx ecosystem.

The program offers additional incentives for users and institutions participating in the Onyx network, increasing overall engagement and usage of the platform.

By rewarding active participants, Onyx hopes to accelerate the adoption of their technology in the market.

Market Reaction and Challenges Ahead

Although Goliath’s announcement brought new hope, the price of Onyxcoin (XCN) fell by over 11% on the day of the announcement (4/3/25). This decline was in line with the broader crypto market trend, which was affected by bearish sentiment and global economic concerns.

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This trend shows that despite technological innovations, external factors and market sentiment still play a large role in determining the value of crypto assets. Investors and stakeholders should consider broader market dynamics when evaluating potential investments in projects like Goliath.

Overall, Onyx’s launch of Goliath marks a significant step forward in the integration of blockchain technology into the traditional financial sector. By offering a scalable, secure, and energy-efficient solution, Goliath has the potential to revolutionize the way financial institutions operate and interact with blockchain technology.

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Reference:

• BeInCrypto. Onyx XCN Introduces Goliath Layer 1. Accessed on March 5, 2025
• CoinTrust. Onyx Unveils Goliath, a Layer 1 Blockchain for Financial Institutions. Accessed on March 5, 2025
• Crypto News. Onyx Protocol Launches XCN-Powered Layer 1 Goliath. Accessed on March 5, 2025