As blockchain technology continues to revolutionize industries, gaming is no exception!
Web3 gaming is one of the most exciting areas in development right now, and one of the leading blockchains for it istwitter.com/Ronin_Network”> Red Roninbuilt from the ground up to power the best blockchain gaming.
With its focus on optimizing transaction speed and reducing costs, Ronin has become a leading choice for game developers looking to leverage the best of blockchain.
Source: Sky MavisWhat is Ronin?
At its core, Ronin is a specialized blockchain designed to support gaming ecosystems. Built as an ethereum Virtual Machine (EVM)-compatible layer-1 blockchain, it was custom-built to handle the demands of gaming and offers the efficient scalability needed to manage millions of players every day.
Launched in 2021, Ronin’s main benefit is its ability to process a high volume of transactions quickly and at low cost. This makes it an ideal platform for web3 games, with millions of item exchanges, game mechanics, and player interactions that can be processed seamlessly and without slowdowns.
twitter.com/SkyMavisHQ”>Mavis from heavenThe creators of the popular web3 game Axie Infinity, developed Ronin specifically to handle the demands of Axie, like no other blockchain could at the time. Over time, Ronin has gained significant attention, investment, and top-tier games, raising over $311 million from notable investors such astwitter.com/animocabrands”> Animoca Brands,twitter.com/a16z”> Andreessen Horowitz and more.
How Ronin Works
Because its architecture is purpose-built for gaming, Ronin offers crucial benefits to gamers, including lower fees when buying and selling in-game items, faster transaction speeds, and easier interactions between games and nfts.
The main token of the Ronin ecosystem is $RON, which is used for transactions, staking, and governance. Games and apps can also create their own tokens on the network, such as $AXS and $SLP, which are used in the Axie Infinity ecosystem. These can be stored in the Ronin Wallet, which can be accessed via a browser extension or mobile app.
Currently, the Mavis marketplace is the main nft trading hub for Ronin assets, with daily trading volumes currently reaching around $100,000 USD.
Ronin’s security is bolstered by a variety of high-quality validators, including major institutions such as Google and Animoca Brands. With over 170 million $RON tokens staked, representing 60% of the circulating supply, the network is secured by 22 validators and around 20,000 delegators.
Decentralization is a key goal of the Ronin development team, and there are plans to increase the number of validators over time to help facilitate this.
Source: Sky MavisThe story of Ronin
The story of Ronin can be told through its two most popular games: twitter.com/AxieInfinity”>Axie Infinitewhich sparked the first play-to-earn boom in 2021, and twitter.com/pixels_online”>Pixelswhich led the second play-to-earn boom after migrating from Polygon to Ronin in 2023.
In Axie Infinity, players can own, trade, and breed digital pets called Axie to compete in PvP battles. The game reached its peak in late 2021 and early 2022, becoming the number one blockchain game with 2.8 million daily players and $42 million USD in daily transactions at its peak. The fast, low-cost transactions enabled by Ronin helped propel the title to heights never before seen for a web3 title.
Pixels, an open-world farming-based massively multiplayer online game, experienced a meteoric rise to fame in late 2023 and early 2024, becoming the number one blockchain game in terms of player count. Pixels’ success led to a massive influx of users to Ronin, with the number of daily active addresses skyrocketing from around 12,000 to over 200,000.
Since its debut in 2022, the market cap of the $RON token has also increased, from $40 million to an impressive $500 million. The total value locked (TVL) on the Ronin network has also increased considerably, rising from $48 million to $166 million in the same time period.
Ronin is expected to continue its growth in the coming years, with plans to further expand and improve its capabilities (as well as attract a new generation of leading blockchain-based games). With its reputation for rock-solid reliability and blockbuster titles, Ronin is a powerhouse of the web3 gaming industry and looks set to remain a major player in the future.
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