# Onyx Protocol Unveils Goliath: A Level 1 Blockchain Propelled by XCN
Onyx Protocol is causing a stir with the unveiling of Goliath, a fresh Layer 1 blockchain powered by the XCN token. Goliath is designed to foster wider acceptance of blockchain technology within establishments, emphasizing rapid transaction velocities.
The Onyx Goliath project is formally launched! This Layer 1 blockchain platform is custom-built for banks, financial systems vendors, and diverse financial institutions. The objective? To furnish blockchain solutions that not only satisfy the finance sector’s stringent security and regulatory demands but also deliver nearly instantaneous transaction speeds for entities seeking to utilize blockchain for payments.
Goliath Layer 1 aspires to compete with established payment networks such as Visa in terms of transaction speed. Visa, for instance, processes approximately 24,000 transactions per second. Onyx Goliath will employ an optimized Proof of Stake (PoS) method to attain consensus.
The endeavor will be implemented in stages. Initially, there will be a white paper, anticipated in Q2 of this year. A test network will follow in Q3 to meticulously evaluate the network’s functionality, security, and compatibility with existing financial systems. The Goliath main network is scheduled to debut in Q1 2026, allowing financial institutions to execute real-time transactions. In Q2 2026, Onyx will also introduce a bank connection mesh network to further fortify secure transactions between banks and enhance the effectiveness of blockchain-based financial operations.
To further incentivize network adoption and augment liquidity on the Layer 3 XCN Ledger, Onyx is introducing a points reward scheme. Individuals who transfer significant assets such as WETH, USDT, CBTC, and USDC from the Base blockchain to the Onyx network will accrue points. Retaining assets within the Onyx network will grant users a staggering 10x points, rendering it exceptionally appealing for liquidity providers and institutional investors. A dedicated portal for the points reward program is imminent!
The indigenous token of this blockchain is XCN, and it will persist on Ethereum, with intentions to connect it to the fresh network, similar to other blockchain holdings.
Notwithstanding anticipations of a price surge subsequent to the Goliath debut, XCN has decreased by 18% in the past 24 hours. This reflects the wider downturn in the cryptocurrency market, where Bitcoin (BTC) and Ethereum (ETH) are also encountering decreases of 9% and 11%, correspondingly.
XCN experienced a steep ascent in late January, surpassing the 7-day EMA and attaining a zenith of $0.050. However, this surge was fleeting, succeeded by a consistent descent throughout February. The 7-day EMA has since functioned as dynamic resistance, impeding any substantial recuperation. Recent backing is approximately $0.014, indicated by the lowest wick on the present chart. Presently, the XCN price is oscillating near this support level, trading at $0.015 at the moment of composition. The price is down across daily, weekly, and monthly timeframes, with no clear purchasing pressure to imply a reversal.
Before Goliath Layer 1, Onyx recently augmented its ecosystem with novelties like the XCN Ledger (a Layer 3 blockchain constructed for financial-grade applications) and the Onyx Wallet (a non-custodial, gas-free wallet).
