Ronin (RON) is one of the fastest-growing decentralized gaming ecosystems in the market. The protocol combines features designed to cultivate interactive communities and innovation in the play-to-earn sector. Here’s everything you need to know.
Top Gaming Ecosystem
Ronin secured a reputation as a top-performing gaming network following the launch of Axie Infinity. This game was among the first to gain popularity in the P2E sector. Since that time, Ronin has secured many new developers, gamers, and titles. Currently, the network boasts an all-time DEX volume of $9.41B with +$750.14M TV. Additionally, 2.92M active addresses use this blockchain to enhance their gaming experience and add value.
Source – Ronin
What is Play 2 Earn
Play-to-earn is a sector of the gaming community that enables gamers to secure rewards that can be transferred outside the gaming ecosystem. Play-to-earn gaming is one of the fastest-growing blockchain sectors and for good reason. In the past, gamers could only hope to secure a name on the leaderboard for their efforts.
Play to earn gaming shifts the paradigm from all power in the developer’s hands to a more balanced ecosystem. Gamers can secure rewards that can be traded or used in other titles, adding to their overall value. Notably, the addition of blockchain assets to the P2E actor has made a significant difference.
Blockchain assets like Bitcoin and Ethereum can be traded internationally and can be integrated into digital titles, metaverses, and other games with ease. They are easily trackable and hold a transferable value. Today’s P2E titles integrate NFT technology to enhance gameplay. NFTs enable developers to create unique verifiable assets.
What Problems Does Ronin Attempt to Fix?
There are several problems that Ronin attempts to fix in the current P2E market. For one, it provides gamers with real ownership over their digital assets. They don’t need to trust that developers are keeping their word regarding the scarcity of their assets and can take their winnings with them when they stop playing.
Scalability
Scalability issues remain a concern for decentralized gamers. Early titles, such as Cryptokitties, suffered massive delays due to congestion. Ronin was built from day one to support near-instant and microtransactions. This structure was required to support the fast-paced gaming environment.
Developers Restrictions
Ethereum developers have complained about restrictions and technical limitations in the past. Ronin integrates advanced web3 protocols and programmability as part of its goal to drive innovation in the market.
Lack of Transparency
Transparency issues were a major roadblock to P2E adoption. It was difficult for developers to maximize their offerings due to a lack of transparency. Gamers don’t want to have to trust the developer’s word on the scarcity and true value of their assets. Ronin provides an open, free, and transparent alternative that supports cross-game assets and more.
Rising Energy Demands
Rising energy demands are another issue that gaming developers and blockchain users must consider. As blockchain games become more advanced and require even more computational power, the sustainability of these networks will become even more important. Ronin leverages a DPoS consensus mechanism and other advanced features to reduce its carbon footprint.
Benefits of Ronin
The benefits that Ronin brings to the market include easy onboarding. As a gaming-centric blockchain ecosystem, the network integrates a lot of features designed for new users including social account logins, seed phrase backups, and support for MPC/keyless tech.
True Gaming Community
One of the biggest advantages that Ronin offers is direct access to an active community of web3 P2E gamers. The platform offers tools and guides on how to cultivate and nurture gaming communities, including access to rewards systems for active users. Each of these communities helps to improve the Ronin ecosystem through the network’s fees.
Lower Costs
Ronin enjoys lower transaction costs compared to competitors. The network DPoS consensus mechanism supports low gas fees. Additionally, users can sponsor others’ gas fees, enabling developers to create more inclusive dapss and assets that push the technology forward.
Interoperability
Interoperability is another reason to consider Ronin. The network integrates a powerful Bridge protocol that enables you to transfer tokens across blockchain networks seamlessly. Anyone can convert your digital assets in seconds using the bridge.
How Does Ronin Work?
Ronin operates as a decentralized blockchain infrastructure provider. This EVM-compatible infrastructure supports full gaming and DeFi programmability. It combines services and features designed to help creators and gamers maximize their efforts, leveraging blockchain benefits.
Ronin Ecosystem
The Ronin Ecosystem includes games, dapss, and more. Gamers can scroll through the growing selection of P2E titles to find the games that suit their style of play. There are MMO, RPG, FPS, and nearly every other category of games available today. You will also find a nice selection of Dapps, including the market, staking, and name services.
ZK rollups
Ronin can scale vertically using Zk roll-up technology. These systems allow blockchain networks to store data off-chain, reducing congestion and improving performance. Additionally, ZK (Zero Knowledge) stands for the protocol’s ability to complete transactions without sharing any transaction details publicly. As such, many advanced DeFi-capable blockchains now employ Zk roll-up tech.
Ronin Wallet
The Ronin Wallet is a core component of the platform’s offerings. This easy-to-use wallet provides direct access to the key features you need most including balance, token details, and more. The Ronin wallet is an EVM-compatible option that allows you to interact with other blockchains secretly and in a noncustodial manner.
Token – RON
Gamers and developers use RON as the primary way to interact with the platform’s services and features. RON is EVM-compatible and can be traded in a permissionless manner. There are 1,000,000,000 RON slated for issuance over the life of the project.
Consensus
Ronin launched as a PoA (Proof of Authority) blockchain which relied on pre-approved validators before converting to a DPoS (delegated proof of stake) consensus option. Ronin now uses a variation of the common DPoS that relies on 22 validators. Twelve of the 22 validators are trusted governing nodes that have undergone in-depth KYC and have been approved by developers. The final 12 validators are selected based on their stated amount.
Governance
The network introduces a hybrid community governance system that uses the 12 governing nodes alongside community voting to create a more transparent experience. Community governance systems are standard in most DeFi programmable networks; they help to keep communities in the loop and together.
Ronin History
Ronin launched in 2017 during the rise of the first blockchain-powered P2E gaming titles by Sky Mavis. It sought to alleviate the congestion issues and develop the woes of the time. The network saw immediate success as Axie Infinity became one of the most popular p2e games in the market.
Axie Infinity
Axie Infinity is a collectible game that allows users to discover and battle fantasy creatures called Axis. The battle gameplay is similar to Final Fantasy in that you select maneuvers and trade blows. The Axie battlers that win combat secure Smooth Love Potion (*SLP) tokens that can be traded or used in the game.
Each Axle has a genetic code that determines its core components and overall scarcity. Notably, Career Axes hold more value and have more capabilities. Notably, they are in infinite combinations, giving the Axe Universe never-ending battle opportunities.
Ronin Hack
In March 2022, Ronin became one of the largest hacking victims in the blockchain market to date after having 173,600 ETH and 25.5 million USDC stolen. Investigations revealed the hack was the result of a compromised Sky Mavic system that exploited a never-revoked allowlist. This maneuver allowed the attacker to gain access to a third-party validator node at the Axie DAO to validate two massive withdrawals.
This hack sent shockwaves throughout the DeFi and p2E markets. It resulted in major security upgrades and the introduction of real-time monitoring to most advanced P2E platforms. Today, the network has recovered from the losses and continues to be one of the leading P2E blockchain solutions globally.
How to Buy Ronin (RON)
Currently, Ronin (RON) is available for purchase on the following exchanges.
Coinbase – A publicly traded exchange listed on the NASDAQ. Coinbase accepts residents from 100+ countries, including Australia, Canada, France, Germany, Netherlands, Singapore, the United Kingdom, and the United States (excluding Hawaii).
Binance – Accepts Australia, Singapore, the UK, and most of the world. Canadian & USA residents are prohibited. Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
Gate.io – This exchange was established in 2013 and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions, including Australia & the UK. USA & Canadian residents are prohibited.
Ronin (RON) – Gamers Get a Blockchain
Ronin has a lot of features that make it the ideal solution for P2E gamers. The network has been tested under real-world conditions, survived a massive hack, and continues to expand its community and features. All of these factors point to a robust and thriving project that serves a vital niche in the digital economy. As such, Ronin is a cool project to keep an eye on moving forward.
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