Onyx Protocol has launched a layer of 1 blockchain, driven by XCN token, to stimulate institutional blockchain acceptance for transaction processing.
Onyx Protocol (XCN) just has launched The Onyx Goliath project, a low 1 blockchain network built for banks, financial system providers and financial institutions. The main objective of the Goliath project is to offer a blockchain solution that meets the strict requirements of the financial sector and at the same time offers near-instant transactions speeds to institutions interested in the use of blockchain for payment processing.
In particular, the Goliath layer 1 is intended to reach transaction speeds that are comparable to traditional networks such as Visa. To put it in perspective, Visa processes around 24,000 transactions per second. Onyx Goliath will use an optimized consensus mechanism for proof-of-stake.
The project will follow a structured development time line, with the first milestone the release of his white paper, planned for Q2 this year. In Q3 a test network will be implemented to assess performance, security and compatibility with financial systems. By the first quarter of 2026, the mainnet is launched, allowing financial institutions to carry out real -time transactions. In Q2 2026, Onyx launches a bank connectivity network to facilitate safe interbank transactions and to improve financial activities based on blockchain.
In addition, Onyx is launching a point program to encourage the acceptance and liquidity of the network within the Layer 3 XCN whides. Users who transfer assets such as Weth, USDT, CBTC and USDC from the base blockchain to Onyx received rewards. A 10x bonus applies to assets that are held within Onyx and offers an incentive for liquidity providers and institutional investors. The points portal will be introduced soon.
It is important to note that XCN, the native token of the blockchain, remains on Ethereum and will be bridged to the new network like other blockchain assets.
Despite the expected price destination after the launch of Goliath, XCN is 18% lower in the last 24 hours, in line with the wider Crypto market decline with Bitcoin (BTC) and Ethereum (ETH) with 9% and 11% respectively.
That's $XCN easy. #Onyxcoin is launching their Goliath Mainnet later today 3/03/2025 and the price is expected to skyrocket
— ChristusXRP (@ChristosXRP) March 3, 2025
There was a sharp rally at the end of January, with XCN price that broke over the 7-day EMA and the peak of $ 0.050. However, the rally was of short duration, followed by a steady decrease during February, the 7-day EMA has since served as a dynamic resistance level, which prevented a meaningful recovery. The most recent support is around $ 0.014, characterized by the lowest wick on the current graph. XCN price is currently floating at this support level and is traded at $ 0.015 at the time of writing. The price has fallen on daily, weekly and monthly timetables, without significant purchasing pressure to give a reversal.
Prior to Goliath Layer 1, Onyx recently expanded its ecosystem with innovations such as the XCN -Grootbooka layer 3 blockchain built for financial applications, and the Onyx portionA non-right, gas-free wallet.
