Exploring the future of web3 gaming on the Ronin network
Ronin Network stands out as a specialized blockchain platform dedicated to revolutionizing gaming. Born from the innovative minds at Sky Mavis and brought to life as the backbone of the iconic Axie Infinity video game, Ronin has evolved into a powerhouse for gaming dapps in 2023. This guide delves into the essence of Ronin Network, its impact on Web3 gaming, and how it’s shaping the future of digital entertainment. Join us as we navigate the Ronin network, its features, its achievements, and its vibrant ecosystem.
- Introducing the Ronin Network
- What is the crypto token for Ronin?
- What wallet do you need for Ronin?
- The best games on Ronin
- How Ronin works
- Ronin’s role in the world of Web3
- Developing dapps on Ronin
- Who is on the Ronin team?
- What is Ronin Name Service (RNS)?
- Discover the best dapps on Ronin
Introducing the Ronin Network
Ronin Network is an innovative Ethereum Virtual Machine (EVM)-compatible blockchain, conceptualized by Sky Mavis, the creators of Axie Infinity. Aimed at revolutionizing the blockchain gaming experience, Ronin addresses key issues like Ethereum’s high gas fees and slow transaction speeds.
This focus has not only enhanced Axie Infinity’s playability but also established Ronin as a key player in the Web3 gaming domain.
Its ability to process up to 100,000 transactions per second and the transition from a Proof of Authority (PoA) to a Delegated Proof of Stake (DPoS) consensus mechanism, highlight its advantages over traditional blockchains. These changes ensure both speed and security, crucial for a seamless gaming experience.
Building on its vision to become the leading blockchain for games, Ronin has already started making significant strides in this direction. A testament to its growing influence is the migration of the highly popular game Pixels from Polygon to Ronin in November 2023. This strategic move not only brought a renowned title under Ronin’s umbrella but also led to a remarkable increase in network activity – something that could underscore Ronin’s prowess in accommodating and elevating top-tier gaming projects in Web3.
What is the crypto token for Ronin?
Launched in January 2022, RON is the native token of the Ronin blockchain, a key component of the ecosystem developed by Sky Mavis for Axie Infinity. RON’s introduction has significantly enhanced the Ronin sidechain’s functionality, especially in facilitating low-cost, efficient token swaps via the decentralized exchange Katana. This innovation addressed the high gas fees issues associated with Ethereum.
With Ronin’s evolution into a Delegated Proof-of-Stake (DPOS) network in March 2023, RON’s utility extended to staking. Users now can stake RON with network validators to earn rewards, increasing its versatility within the Ronin ecosystem. And even though liquidity providers and other network supporters get some free transactions per day, most users require RON to pay for transactions on the network.
In November 2023 the RON token cost $0.781, with a market capitalization of $208 million. However, the token’s all-time high was $4.30 in January 2022, and its lowest value recorded at $0.20 in November of the same year.
What wallet do you need for Ronin?
To interact with the Ronin blockchain, users require the Ronin Wallet, a digital wallet specifically designed for the Ronin network, enabling secure transactions, NFT management, and interaction with Ronin-based applications and games.
However, because Ronin is an EVM blockchain, it’s also possible to utilize MetaMask. Yet, Ronin Wallet has been designed from the ground up to support all functionalities of the Ronin Network, and is therefore the recommended wallet to use.
The best games on Ronin Network
Ronin has rapidly become a hub for some of the most engaging and innovative blockchain games, each offering unique experiences and leveraging the network’s efficient transaction capabilities.
Here are some of the standout games currently thriving on Ronin:
- Axie Infinity: A leading game on Ronin, Axie Infinity allows players to breed, raise, and battle fantasy creatures called Axies. This title pioneered the Play-to-Earn model in 2021 and is still one of the most popular web3 games worldwide.
- Pixels: After continuous updates and migrating from Polygon in 2023, Pixels has grown in popularity on Ronin with its engaging pixel art and strategic gameplay.
- The Machines Arena: Still under development with community participation, The Machines Arena is a cross-platform, team-based shooter offering fast-paced battles.
- Battle Bears Heroes: Upcoming top-down shooter game with a strong community following. Some game modes include Death Match and Battle Royale.
How Ronin works
Ronin’s functionality is anchored in its evolution from a Proof of Authority (PoA) consensus mechanism to Delegated Proof of Stake (DPoS). Initially, the PoA system enabled trusted validators, chosen for their expertise and reputation, to maintain the network and validate transactions. This system was efficient, providing quick transaction validation and reduced energy usage compared to Proof of Work (PoW) mechanisms. However, PoA faced criticism for its centralized nature.
To enhance decentralization and user involvement, Ronin integrated DPoS into its network in March 2023. In DPoS, RON token holders can become validators or delegate their stake to others, participating directly in network maintenance and decision-making. This shift not only democratizes the validation process but also retains the benefits of PoA, such as low transaction fees and high transaction speeds. Validators are incentivized to act honestly and efficiently through a reward system, ensuring the integrity and performance of the Ronin network.
DappRadar DAO is a Validator of the Ronin network
As a Ronin validator, DappRadar DAO, governing the DappRadar platform, reinforces the network’s security and stability, reflecting its commitment to the Web3 gaming community and partnership with Sky Mavis
You are invited to stake RON tokens with DappRadar’s validator, supporting the network while earning rewards and contributing to the growth of blockchain gaming.
Ronin’s role in the world of Web3
Ronin stands out in Web3 for its fast and secure blockchain platform, essential for gaming. Capable of handling 100,000 transactions per second, it significantly surpasses traditional blockchains like Ethereum in efficiency. The transition to a Delegated Proof of Stake (DPoS) consensus has enhanced security and democratized user participation.
Ronin’s success in attracting both gamers and developers has become increasingly evident, proving it to be a favorable choice in the Web3 gaming sector.
This is highlighted by a significant surge in user engagement in the first week of November 2023, where Ronin recorded a high of 475,000 Unique Active Wallets (UAW), marking a 69% increase from the previous week. This remarkable growth, propelled in part by the popular game Pixels migrating to Ronin, emphasizes the network’s expanding influence and appeal in the Web3 gaming community.
Developing dapps on Ronin
Developing dapps on Ronin offers several benefits for you as a developer. Its compatibility with Ethereum Virtual Machine (EVM) means you can easily migrate or build Ethereum-based dapps on Ronin with minimal adjustments. Some of the key advantages include:
- Lower Transaction Fees: Ronin’s efficient consensus mechanism significantly reduces transaction costs compared to Ethereum.
- Faster Transactions: High throughput supports quicker transaction processing, essential for responsive dapp functionality.
- Enhanced Security: The transition to DPoS enhances network security, offering a more reliable platform for your dapps.
- Growing User Base: Ronin’s increasing popularity, especially in gaming, provides a larger potential audience for your dapps.
By developing on Ronin, you tap into these strengths, positioning your dapp in a rapidly growing and supportive ecosystem.
Who is on the Ronin team?
The Ronin team is spearheaded by the creators at Sky Mavis, the blockchain game developer known for their flagship title, Axie Infinity, and is based in Vietnam. Key figures include CEO Trung Nguyen, COO Aleksander Larsen, and Growth Lead and Co-Founder of Sky Mavis Jeff ‘Jihoz’ Zirlin, who bring a blend of technical expertise and gaming industry experience.
Their leadership and vision have established Sky Mavis as a reputable force in the blockchain gaming world, with Ronin being a testament to their innovation and commitment to advancing the Web3 gaming ecosystem.
What is Ronin Name Service (RNS)?
RNS, or Ronin Name Service, is Ronin’s latest significant announcement, offering users the ability to convert complex Ronin addresses into simple, human-readable names with a .ron suffix. Going live on 15 November 2023, it allows the purchase of these NFT names using RON, with sales boosting the Ronin Treasury and the community incentives pool.
RNS names come in three types: Regular, High-Value, and Protected, each with varying pricing structures. High-Value names will be auctioned, and Protected names are reserved for key partners and community members.
This service aims to streamline user experience on Ronin, enhancing accessibility and identity within the gaming network.
Discover the best dapps on Ronin
For staying informed about the latest developments and trends in Ronin dapps, DappRadar is your go-to resource. Utilize the DappRadar Top Dapps Ranking to keep abreast of the most popular and engaging dapps on the Ronin network and compare it with other protocols.