What Is Crypto Ronin (RON)?

Ronin is an Ethereum sidechain that was created specifically for the popular blockchain game Axie Infinity. It is designed to provide a more scalable and user-friendly experience for Axie players, while also reducing the fees associated with transactions on the Ethereum mainnet.

Ronin is an EVM-compatible blockchain, which means that it can run Ethereum-based applications without any modifications. This makes it easy for developers to port their existing games to Ronin, and it also allows players to use their existing Ethereum wallets to interact with the network.

One of the key features of Ronin is its high throughput. The network can process up to 100,000 transactions per second, which is much faster than the Ethereum mainnet. This makes it possible for Axie players to make transactions quickly and easily, without having to worry about high fees.

Another advantage of Ronin is its security. The network is secured by a proof-of-authority (PoA) consensus mechanism, which means that it is controlled by a small number of trusted validators. This makes it more resistant to attacks than other blockchains that use a more decentralized consensus mechanism.

Ronin has been a major success for Axie Infinity. Since the network launched in April 2021, the number of daily active users on Axie has increased significantly. Ronin has also helped to reduce the fees associated with playing Axie, which has made the game more accessible to a wider range of players.

How Ronin Works

Ronin initially used the Proof of Authority (PoA) consensus mechanism. Sky Mavis and the community chose trusted validators to run the network and verify transactions in this mechanism. However, PoA requires high trust between the chosen validators.

Seeing this as less than ideal, Ronin changed it to Delegated Proof of Stake (DPoS) in April last year. DPoS is a consensus mechanism where RON token holders delegate their staked tokens to validators. Later, these validators will verify transactions, produce new blocks, and receive rewards.

Through DPoS, anyone can become a validator as long as they own RON tokens. The Ronin network can be more decentralized and secure this way. At the same time, Ronin still maintains the advantages of PoA, such as transaction processing speed and lower transaction fees.

Since switching to DPoS, several large institutions such as Google, Animoca Brands, Nansen, and DappRadar have contributed to the safety of the Ronin network by becoming Governing Validators. Meanwhile, many other community members have become Standard Validators. Notably, at least 22 validators and 20,000 delegators are securing Ronin with more than 170 million RON (60% of circulating supply) at stake.

Ronin’s Feature

Ronin has many features that can support the Web3 gamers’ needs. The following are some of its features:

  • Gaming Platform

As a gaming platform, Ronin has become a hub for innovative blockchain games. Of course, Axie Infinity is the biggest and most popular game on Ronin. It is one of the pioneering Play-to-earn-based blockchain games that boomed in 2021. Even Axie Infinity is still one of the most popular Web3 games today.

Meanwhile, there is also Pixels, the newest game in Ronin. It is a P2E game that allows players to garden, gather, and build their homes in Pixels. Pixels already has over 900k users and works with 84 NFT collectibles that are transformed into characters in Pixels. Other games include Battle Bears Heroes, The Machine Arena, Axie Champions, Aperion, etc.

  • Ronin Name Service

Ronin Name Service (RNS) is a naming system on the Ronin blockchain that allows the creation of .ron domain names to be more readable. It is modeled after Ethereum’s Ethereum Name Service (ENS) concept. But what makes it different is the anti-squatting fee. The fee gives users a better chance of choosing a username of their preference.

With RNS, there is no more domain ronin:41d8cf42236be14cc7b0c0df519a9582d7ad423. Users can change it to a friendlier username, such as pintuacademy.ron. RNS has been integrated with Ronin’s games, wallets, and dapps. Making the .ron domain like a username in the entire Ronin ecosystem. The RNS service can be accessed via id.roninchain.com.

  • Ronin Wallet

Ronin Wallet is a crypto wallet for the Ronin blockchain ecosystem. It is available as a web browser extension and mobile app for iOS and Android. There were 12 million Ronin Wallet addresses, with 1.2 million new addresses created in 2023.

Earlier this year, Ronin Wallet added several new features to enhance its wallet functionalities. The updates include adding networks that support other blockchains, such as Polygon and BNB Chain. Additionally, Ronin Wallet has included a Binance Pay feature that enables users to buy tokens within the Ronin ecosystem

Mavis Market

In May 2023, Ronin officially launched Mavis Market, a generalized NFT marketplace. Through Mavis Market, NFT creators can launch or migrate their NFT collections. “The CyberKongz” is the first NFT launched on Mavis Market.

One of the things that differentiates Mavis Market from other NFT marketplaces is its approach to royalty structure. It uses guaranteed creator royalties. This approach allows creators to set the percentage of royalties on their works. Meanwhile, Sky Mavis and Ronin charge 2% and 0.5%, respectively, from transactions made by NFT buyers. While the rest will be the seller’s revenue.

Ronin’s Advantages

  • Low transaction fees. With the DPoS mechanism, Ronin manages to lower transaction fees than Ethereum. As a blockchain that focuses on the gaming sector, low fees are essential due to the large number of in-game transactions that users will make.
  • Fast transaction processing. In addition to low fees, transaction processing should also be fast. This is to ensure a seamless experience for trading NFTs and in-game assets. The combination of DPoS and PoA allows Ronin to achieve this.
  • Growing user base. All of Ronin’s metrics show solid growth throughout 2023. This makes Ronin a potential place to develop games and apps as its user base grows.

Conclusion

Ronin is a promising blockchain that has the potential to revolutionize the way that play-to-earn games are developed and played. It offers a number of advantages over other blockchains, including high throughput, low fees, and EVM compatibility. However, it is It is important to note that Ronin is a centralized blockchain, which means that it is not as decentralized as other blockchains.

Overall, Ronin is a valuable tool for developers and players who are looking for a more scalable and user-friendly way to interact with blockchain games. However, it is important to weigh the pros and cons of Ronin before deciding whether or not to use it.

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