Onyx announced the new Layer-1 Blockchain Goliath project designed for financial institutions. The project aims to provide a safe and secure infrastructure to banks. Goliath promises the speed of the process to compete with Visa, while the Mainnet launch will test the accuracy of this claim.
Goliath increases speed and safety with proof-of-stake
Goliath will use the proof-of-stake (POS) consensus mechanism to increase the process speed. POS reduces energy consumption by selecting the confirmants according to the amount of token. In this way, the network will work more efficiently and environmentally friendly.
The project will work as an independent Layer-1 blockchain while being built on XCN Ledger. Goliath, which will continue its integration with existing financial systems, aims to provide special solutions for banks. Onyx plans to perform the testnet phase of the project in the third quarter of 2025 and the mainnet launch in the beginning of 2026.
XCN price at the collapse
Onyxcoin (XCN) suffered a major depreciation despite the announcement. XCN fell more than 11 %hours before the announcement, surprised its investors. Negative news from the Federal Reserve and market fluctuations deepened this decrease further.
In particular, the attempt to exit whale investors failed. It is unclear how Goliath will be effective for the XCN, which has declined by 50 %in February. Investors are eagerly awaiting how the new Blockchain will accelerate the project.
Will Goliath really revolutionize, or is it a great disappointment?
Although Onyx’s new Blockchain move comes with great promises, investors stand cautiously. Goliath offers ambitious solutions for banks and financial institutions, but it is unclear how the market will react. If the project cannot achieve the promising scalability and process rate, a larger decrease for Onyx and XCN may be at the door. Furthermore, it will take a long time to release Goliath and market conditions may change in this process. In order to restore investor confidence, the team needs to take concrete steps. Otherwise, Goliath may only remain an ambitious project on paper. In the coming days, we will see how Goliath will follow!
