Ronin Network: The Rise and Potential of an Innovative Blockchain Platform

In the ongoing bull market that has lasted for more than two months, investors are eager to find potential value gaps. This has provided some established projects with opportunities for a revival. Ronin Network, as a public chain project established in 2021, has undergone the baptism of the bear market and, through continuous efforts in 2023, has welcomed a new life at the beginning of 2024.

Data shows that the number of active addresses on the Ronin Network has grown by 3225% in the past three months. It peaked at 693,000 on January 25. Its token Ron has increased by over 800% in the past three months, currently priced at $3.18. So, what exactly is the Ronin Network? Why is it so favored by investors? As a blockchain platform focused on innovating games, what advantages does Ronin Network have? Let's explore this in depth through this article.

From Axie Infinity to Ronin Network

Ronin was developed by the tech-focused game studio Sky Mavis. It was 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 was a leading blockchain game during the last bull market that sparked the GameFi craze. At its peak, its monthly revenue reached $300 million, and its daily turnover once surpassed Honor of Kings. It gave rise to large gaming guilds like YGG, attracting a large number of gaming enthusiasts and developers to the Web3 gaming space, shaping today's GameFi landscape. However, as the number of players increased, Ethereum's slow settlement and high Gas fees gradually raised the entry barrier. With a reduction in new users and the entire market entering a bear market, Axie Infinity found itself in trouble.

To solve these problems, Ronin was born. It is a long-term scaling solution designed by Sky Mavis specifically for Axie Infinity. Before the creation of Ronin, Sky Mavis had collaborated with the Loom Network. However, due to differences in philosophy, the Sky Mavis team decided to develop their own Blockchain—Ronin Network.

As an EVM-compatible chain designed specifically for gaming, Ronin aims to completely address issues such as high Gas fees and slow transaction speeds on Ethereum, providing players with a smoother and more seamless gaming experience. Currently, Ronin has shown great potential in the NFT trading market, processing over $4 billion in transactions while attracting millions of daily active users.

2023 is a crucial year for Ronin. It has launched several important upgrades and new features, including the desktop gaming aggregation platform Mavis Hub 2, RON staking function, delegated proof-of-stake mechanism, NFT marketplace Mavis Market, and more. At the same time, Ronin has partnered with multiple gaming companies to expand its ecosystem.

The robust development of the Ronin Network has earned the trust of market investors. Thanks to its close collaboration with Axie Infinity, which serves as a massive traffic pool, Ronin has gained an initial user base. Ronin's market share in the blockchain gaming sector once surpassed that of BNB Chain, ranking first, with the number of daily active addresses stable at over 600,000. This influx of traffic has also led to the RON token achieving over 800% growth in the past three months. Currently, the price of RON is $3.18, essentially recovering to the peak of the last bull market. This further demonstrates Ronin's market competitiveness and investor confidence.

How Ronin Network Works and Its Advantages

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

Sidechain architecture

Ronin, as a sidechain of Ethereum, has an independent Block generation mechanism and consensus algorithm that can be optimized according to game scenarios. Through the Ronin bridge, users can freely transfer assets between the Ethereum mainnet and Ronin, achieving interoperability.

Mixed Consensus Mechanism

Ronin Network adopts a hybrid consensus mechanism of Proof of Authority ( PoA ) and Delegated Proof of Stake ( DPoS ). PoA utilizes trusted validating nodes to maintain the network, providing high efficiency and low cost. DPoS allows token holders to delegate their voting rights to validators, increasing decentralization and security.

High scalability

Ronin Network has the following technical advantages:

• High throughput: 100,000 transactions can be processed per second
• Low latency: Fast transaction confirmation and response
• Low transaction fees: More cost-effective compared to Ethereum
• Compatibility: Compatible with Ethereum Virtual Machine (EVM), making it easy for developers to migrate applications.

RON Token Economic Model

RON is the native token of the Ronin Network and has multiple functions:

• Pay transaction fees
• Participate in network security and staking
• Participate in governance decisions

RON token distribution: 30% belongs to Sky Mavis, 30% is used for community incentives, 15% as ecosystem fund, and the remaining is distributed through staking rewards.

Ronin Network Popular Blockchain Game Overview

Axie Infinity

Axie Infinity is the largest game on Ronin, allowing players to breed, raise, and battle fantasy creatures known as Axies. It pioneered the Play-to-Earn model in 2021 and remains one of the most popular Web3 games globally. Recently, Axie introduced a new mechanism called AXP, which allows players to upgrade their Axies through victory points, injecting new momentum into the game.

Pixels

Pixels is a social, casual, open-world Web3 game and platform. It is a pixel-style metaverse farming game that allows players to interact, farm, play mini-games, and earn token rewards in a pixel art world. Pixels migrated from Polygon to the Ronin network in 2023, becoming another leading blockchain game on Ronin after Axie Infinity.

Zoids Wild Arena

Zoids Wild Arena is a TCG game developed by the South Korean gaming company ACT Games. Players can collect cards of the Zoids series mechanical creatures and engage in 1v1 or 3v3 battles. This is the first game to be migrated to Ronin following the collaboration between ACT Games and Sky Mavis. The addition of traditional games to Ronin presents new development opportunities.