Onyx Protocol unveiled its new Goliath project, a Layer 1 blockchain developed to meet strict financial sector requirements and enhance transaction speed.
Onyx's New Goliath Project
Onyx Protocol has recently introduced the Onyx Goliath Project, a Layer 1 blockchain designed specifically for banks and financial institutions. The goal of the Goliath Project is to offer a blockchain solution capable of meeting the stringent requirements of the financial sector and providing near-instantaneous transaction speeds comparable to traditional networks such as Visa, which processes around 24,000 transactions per second.
Blockchain Development and Future
The Goliath project will develop according to a planned timeline. The first stage includes the release of a white paper in Q2 this year. In Q3, a testnet will be deployed to evaluate performance and security. The mainnet is expected to launch in Q1 2026, followed by the establishment of a Bank Connectivity Mesh Network in Q2 2026 to enhance the security of transactions.
XCN Token Features and Current Situation
The XCN token, originally launched on the Ethereum network, retains its importance. It will be bridged to the new network. Despite the Goliath launch, XCN faced a price drop of 18% over the past 24 hours, aligning with the broader market downturn. There have been short-term price rallies in the past, but currently, XCN trades at support levels around $0.015.
Onyx Protocol aims to adapt its technology for use by financial institutions through the Goliath project, hoping to provide fast and secure blockchain transaction processing.
