Ronin is an Ethereum Virtual Machine (EVM) compatible blockchain specifically designed for play-to-earn (P2E) gaming. Initially developed to support the massively popular game Axie Infinity, Ronin has evolved into a robust ecosystem supporting a variety of gaming and decentralized finance (DeFi) applications. Its primary goal is to offer gamers and developers a fast, low-cost, and scalable environment for blockchain-based gaming experiences.
Since its launch, Ronin has demonstrated impressive growth. In its first few months, it attracted hundreds of thousands of daily active users and facilitated billions of dollars in transaction volume, quickly becoming a cornerstone of the NFT gaming world.
What is the Ronin Blockchain?
Ronin is a sidechain built to scale Ethereum-based applications, specifically those in the gaming sector. By operating as an independent blockchain connected to Ethereum, it processes transactions off the main Ethereum chain, resulting in significantly faster speeds and drastically lower gas fees. This design is crucial for gaming applications, which require quick and inexpensive transactions to provide a seamless user experience.
The most notable project built on Ronin is Axie Infinity, a digital pet universe where players can earn token rewards. The migration of Axie Infinity to Ronin was a resounding success. In its first month on the chain (July 2021), the game saw a 300% month-over-month increase in NFT trading volume, a 180% increase in unique monthly NFT traders, and a 131% increase in daily active battles.
Key Features of Ronin
- EVM Compatibility: Allows developers to easily port their Ethereum dApps and smart contracts to Ronin with minimal changes.
- High Speed and Low Cost: Capable of processing a high throughput of transactions with fees that are a fraction of a cent.
- Dedicated Wallet: The Ronin Wallet is a browser extension and mobile app designed for seamless interaction with games and dApps on the chain.
- Native DEX: Katana, Ronin's native decentralized exchange, allows users to swap tokens, provide liquidity, and earn yield within the ecosystem.
Who Founded the Ronin Blockchain?
Ronin was developed by Sky Mavis, the Vietnam-based software company also responsible for creating Axie Infinity. The team at Sky Mavis identified the scalability limitations of Ethereum as a major barrier to the mass adoption of blockchain games. They built Ronin to solve these problems specifically for their own game and, by extension, for the entire P2E gaming industry.
The leadership and development team at Sky Mavis have extensive experience in both blockchain technology and game development, which has been instrumental in Ronin's successful implementation and adoption.
What Makes Ronin Unique?
Ronin’s uniqueness stems from its singular focus on becoming the premier blockchain for gaming. Unlike general-purpose blockchains, every aspect of Ronin is optimized for the needs of gamers and game developers.
- Purpose-Built for Gaming: It was created to solve the specific pain points of blockchain gaming: high fees and slow transaction times. This focus has made it the chain of choice for major gaming titles.
- Proven Ecosystem: The success of Axie Infinity served as a powerful proof-of-concept, demonstrating that Ronin could handle massive scale and drive real economic activity for users. This attracted other developers to build on the network.
- Integrated User Experience: From the Ronin Wallet to the Katana DEX, the ecosystem provides a seamless and self-contained experience for users to play, trade, and manage their assets without ever needing to leave the Ronin environment.
- Strong Economic Activity: Ronin consistently ranks among the top blockchains for NFT sales volume, driven primarily by in-game assets from its supported titles.
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How Many Ronin (RON) Coins Are in Circulation?
RON is the native utility token of the Ronin blockchain. It is used for:
- Paying Gas Fees: All transactions on the network require RON to pay for gas.
- Governance: RON holders can participate in the governance of the Ronin network, voting on key proposals and upgrades.
- Staking: Users can stake RON to help secure the network and earn staking rewards.
Like many cryptocurrencies, RON has a capped maximum supply to ensure scarcity. The tokenomics are designed to incentivize network participants, including players, developers, and validators. For the most accurate and up-to-date information on circulating supply, total supply, and inflation rate, it is always best to check a reliable market data aggregator.
How is the Ronin Network Secured?
Ronin initially operated on a proof-of-authority (PoA) consensus mechanism, which relied on a limited number of trusted validators, primarily from the Sky Mavis team and partners. This allowed for high speed and efficiency in the early stages.
However, following a security incident in March 2022, Sky Mavis has been working on a long-term plan to decentralize the network further. The roadmap involves transitioning to a Delegated Proof-of-Stake (DPoS) model. In a DPoS system, RON token holders can stake their tokens to vote for validators who are responsible for processing transactions and maintaining the network's security. This shift is intended to make the network more robust, secure, and truly decentralized.
Where Can You Buy Ronin (RON)?
RON is a widely traded cryptocurrency available on many major centralized and decentralized exchanges.
Centralized Exchanges (CEXs): You can typically buy RON with fiat currency or other cryptocurrencies on large, well-known exchanges. These platforms are often the easiest entry point for new users due to their user-friendly interfaces and fiat on-ramps.
Decentralized Exchanges (DEXs): The primary venue for trading RON within its own ecosystem is Katana, the native DEX on the Ronin chain. Here, you can swap other Ronin-based assets for RON directly.
Before purchasing, always ensure you have a compatible wallet, such as the Ronin Wallet, to store your assets securely.
Frequently Asked Questions
What is the main use of the Ronin blockchain?
Ronin is primarily used for hosting blockchain-based games and applications, with a strong focus on the play-to-earn model. It provides the infrastructure for fast, low-cost transactions essential for a smooth gaming experience.
Is Ronin a sidechain?
Yes, Ronin is an Ethereum sidechain. This means it operates alongside the Ethereum mainnet, processing its own transactions while still being able to communicate and transfer assets with Ethereum through bridges.
How do I start using Ronin?
To start using Ronin, you first need to set up a Ronin Wallet. Then, you can fund it with ETH or other assets via a bridge from Ethereum. After that, you can interact with games like Axie Infinity or use DeFi apps like Katana DEX on the network. View real-time tools and guides to get started.
What is the difference between RON and AXS?
RON is the native gas token of the Ronin blockchain, used for transactions and network security. AXS (Axie Infinity Shards) is the governance token for the Axie Infinity game itself, used for voting on game-specific decisions and staking within the Axie ecosystem.
Was Ronin hacked?
Yes, in March 2022, the Ronin bridge was exploited, resulting in a significant loss of funds. Sky Mavis reimbursed all affected users from its own treasury and with the help of investors, and has since implemented greatly enhanced security measures for the bridge and network.
Can developers build other games on Ronin?
Absolutely. While Axie Infinity is its flagship game, Ronin is an open platform for all developers. Sky Mavis actively encourages other game developers to build on Ronin to expand its ecosystem beyond a single application.