Theyx protocol has launched a layer 1 blockchain operated by XCN tokens for institutional blockchain adoption for transaction processing.
Onyx Protocol (XCN) is right now Launched A layer 1 blockchain network manufactured for onyx goal project, banks, financial system providers and financial institutions. The main objective of the Golith Project is to provide a blockchain solution that meets the strict requirements of the financial sector by offering close-to-instantaneous transactions to institutions interested in using blockchain for payment processing.
In particular, the purpose of the Golith layer 1 is to achieve transactions speed compared to traditional networks such as visas. To keep it in perspective, the visa processes around 24,000 transactions per second. Onyx Goliath will use a customized proof-of-set consensus mechanism.
The project will follow a structured development timeline, in which the first milestone will be slapped for Q2 this year, with the release of its whitepaper. In Q3, a testnet will be deployed to assess performance, safety and compatibility with financial systems. By Q1 by 2026, Mennet will be launched, which will enable financial institutions to conduct real -time transactions. In Q2 2026, onyx will launch a bank connectivity Aries network to facilitate safe interbank transactions and improve blockchain-based financial operations.
Additionally, onyx layer 3 XCN is starting a digit program to encourage network adoption and liquidity within the laser. Users will receive prizes that transfer property from base blockchain to onyx on onyx, USDT, CBTC, and USDC. A 10X bonus will apply to assets conducted within onyxes, which will provide an incentive to liquidity providers and institutional investors. The point portal will be introduced soon.
It is important to note that XCN will remain on the native token of blockchain, Ethereum and will reach the new network like other blockchain assets.
Despite the anticipated price hike after the launch of Goliath, XCN is 18% below the last 24 hours, respectively, Bitcoin (BTC) and Ethereum (Eth) respectively with a comprehensive crypto market down to 9% and down to 11%.
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, in which the XCN price broke over the 7-day EMA and reached the peak of $ 0.050. However, the rally was short -lived, followed by a steady decline in February. The 7-day EMA has ever served as a dynamic resistance level, which has prevented any meaningful recovery. The most recent support is around $ 0.014, which is marked by the lowest Wick on the current chart. Currently, the XCN price is just mandra at this support level, trading at $ 0.015 at the time of writing. The price is down on daily, weekly and monthly deadline, there is no significant purchase pressure to indicate a reversal.
Prior to Golith Layer 1, onyx has recently expanded its ecosystem with innovations like XCN accountA layer 3 blockchain is designed for financial-grade applications, and Onyx walletA non-custodial, gas-free wallet.
