Ronin Network: The Potential and Development of Gaming Public Chains

The recent bull market has provided some established projects with the opportunity for a rebirth. As a public blockchain established in 2021, which has endured the baptism of the bear market, Ronin Network has continued to make efforts in 2023 and welcomed new development opportunities at the beginning of 2024.

Data shows that the number of active addresses on the Ronin Network has increased by 3225% in the past three months, peaking at 693,000 on January 25. Its token, Ron, has also risen over 800% in the past three months, currently priced at $3.18. So, what exactly is the Ronin Network? Why is it so popular among investors? As a blockchain platform focused on revolutionizing gaming, what advantages does Ronin Network have? Let's delve into this article.

From Axie Infinity to Ronin Network

Ronin is developed by a technology-focused game studio, Sky Mavis, specifically created by Yale University graduate Jeffrey Zirlin, who worked at Sky Mavis for over four years, and blockchain expert Alexander Leonard Larsen, who is also one of the founders of Axie Infinity.

Axie Infinity is the leading blockchain game that created the GameFi craze during the last bull market, with monthly revenue reaching up to $300 million at its peak and daily revenue once surpassing Honor of Kings, giving rise to large gaming guilds like YGG. The success of Axie Infinity attracted a large number of gaming enthusiasts and developers into the Web3 gaming field, successfully shaping today's GameFi landscape. However, as more players entered the market, Ethereum's slow settlement and high Gas costs gradually drove up the entry costs for players. With the decline of new users and the entire market entering a bear phase, Axie Infinity has also fallen into a predicament.

To address the challenges faced by Axie Infinity, Ronin was born. As an EVM-compatible chain designed specifically for gaming, Ronin aims to fundamentally resolve critical issues such as the high Gas fees and slow transaction speeds on Ethereum, providing players with a smoother and more seamless gaming experience. Currently, Ronin has demonstrated its immense potential in the NFT trading market, processing over $4 billion in transactions while attracting millions of daily active users.

2023 is an extremely important year for Ronin. The network has launched several significant updates and collaborations, including the desktop game aggregation platform Mavis Hub 2, RON staking functionality, Delegated Proof of Stake (DPoS) mechanism, and the NFT marketplace Mavis Market, among others. Additionally, Ronin has partnered with several game companies to further expand its gaming ecosystem.

The steady development of the Ronin Network has earned the trust of market investors. Thanks to its close collaboration with Axie Infinity, Ronin's market share in the blockchain gaming sector once surpassed BNB Chain, ranking first, with daily active addresses consistently exceeding 600,000. This support in traffic has also led to a significant increase in the native token RON over the past three months.

How Ronin Network Works and Its Advantages

Ronin Network is an innovative blockchain platform based on the delegated proof of stake ( DPoS ) consensus mechanism, designed to provide a highly scalable environment for gamers and developers. By adopting advanced technologies and economic models, Ronin Network successfully addresses the scalability and high transaction fee issues of the Ethereum network.

Sidechain Architecture

Ronin, as a sidechain of Ethereum, has its own independent block generation mechanism, consensus algorithm, and can achieve asset interoperability with the Ethereum mainnet through bridging. This sidechain architecture allows Ronin to focus more on optimizing gaming scenarios while maintaining a connection with the Ethereum ecosystem.

Hybrid Consensus Mechanism

Ronin Network adopts a hybrid consensus mechanism of Proof of Authority (PoA) and Delegated Proof of Stake (DPoS). This hybrid mechanism combines two different approaches to enhance decentralization and security while maintaining high transaction throughput and low confirmation times.

Highly scalable blockchain platform

Ronin Network has technical advantages such as high throughput, low latency, low transaction fees, and EVM compatibility, enabling it to handle large-scale transactions and deliver excellent performance.

RON Token Economic Model

RON is the native token of the Ronin Network, serving multiple functions and values, including paying transaction fees, participating in network security and staking, as well as engaging in governance decisions. The economic model of the RON token is designed to promote network development and community participation.

Ronin Network Popular Chain Game Overview

Axie Infinity

Axie Infinity is the largest game on Ronin, allowing players to breed, raise, and battle fantastical creatures called Axies. The game pioneered the Play-to-Earn model in 2021 and remains one of the most popular Web3 games globally.

Pixels

Pixels is a social, casual, open-world Web3 game and platform. As a pixel-style metaverse farming game, Pixels allows players to navigate in a pixel art world, interact with each other, cultivate land, play mini-games, and earn token rewards.

Zoids Wild Arena

Zoids Wild Arena is a TCG game developed by the renowned South Korean game company ACT Games. Players can collect cards of mechanical creatures from the Zoids series and engage in 1v1 or 3v3 battles. This game is the first to be migrated to the Ronin network following the collaboration between ACT Games and Ronin.

Overall, Ronin Network is becoming an important platform in the Web3 gaming space through its unique technological advantages and an expanding game ecosystem. With the addition of more high-quality game projects and continuous technological optimization, Ronin Network is expected to play a greater role in the future blockchain gaming market.