What is Ronin? The Ethereum gaming chain behind ‘Axie Infinity’ and ‘Pixels’
9 months ago Benito Santiago
In the wider world of crypto, there are now many blockchains specifically designed for gaming – but Ronin was one of the first.
Gaming blockchains are typically built to offer lower transaction fees and a higher number of transactions, so they are considered more affordable and more scalable as blockchains. Bitcoin and Ethereum. Some game chains are also private, meaning that developers must obtain permission from blockchain creators to join the ecosystem.
Ronin is one of those examples—at least for now, though founders say they plan to reopen once more studios are built in 2024. In the meantime, games like Pixels and Axie Infinity are attracting players to the Ethereum sidechain. Here's what you need to know about it.
What is Ronin?
Ronin is a gaming-centric Ethereum sidechain designed to handle transactions faster and cheaper than the Ethereum mainnet. of Ethereum virtual machine (EVM) compatible chain first launched in February 2021.
It first started as a “proof of authority” blockchain (PoA), which means that individuals rely on known running verification nodes, a type of computer software, to verify transactions on the blockchain. A common criticism of the PoA method is that a lot of trust must be placed in a small number of validators – so it's less decentralized than other methods.
In the year In the middle of 2022, Ronin Bridge has experienced a lot. 622 million dollars stolen. The bridge connects Ronin with Ethereum. The US Treasury is responsible North Korean hackers For the attack – and there were some missing funds He finally recovered.
In April 2023, Ronin's ban changed to a delegated proof of stake method (DPoS)) means it no longer works as a PoA blockchain. DPoS allows for more decentralization, as is currently the case with any RON token at least 250,000 RON It can “delegate” to the network, or select validators, attached to its blockchain.
What is RON?
The Ronin Token, also known as RON, is the gas token of the Ronin Blockchain. Users of the Ronin network need a small amount of RON to pay for transactions on the blockchain. RON can be used to participate in the blockchain-specified DPoS method or for other decentralized finance (DeFi) purposes.
What is a Ronin bag?
Sky Mavis' Ronin Wallet is a crypto wallet for the Ronin blockchain ecosystem, available as a web browser extension and mobile app for iOS and Android devices.
In the year In early 2024, mobile wallet developers announced new features in an effort to expand its capabilities. Support for other blockchains Like Ethereum sidechain Polygon and EVM-compatible BNB chain. Also added Binance payment As a feature, this allows users to purchase some Ronin Eco tokens.
What is Sky Mavis?
SkyMavis is a crypto-tech startup founded in 2018 that created both the Ronin blockchain and its core game. Axie Infinity. Sky Mavis has three co-founders: Truong Nguyen, Alexander Larsen and Jeffrey Zirlin.
According to Tracxn Data, Sky Mavis has 26 institutional investors, among them Animoca Brands and Andreessen Horowitz (a16z). Sky Mavis has raised $311 million in funding at the time of writing, while Tracxn, with its latest Series B round, has raised $150 million in April 2022. That round was raised to refund Ronin users after the aforementioned hack.
How does Axie Infinity fit in with Ronin?
Axie Infinity is a Pokemon-inspired match-finding game where players must pit axolotl-inspired creatures against each other. Each Axie is one NFT Can be bought and sold. Thanks to a recent update, some Axies can now be. It has improved.as well as.
What signs are there on Ronin?
The most popular Ronin blockchain tokens so far are RON, AXS and SLP. AXS is the token of Axie Infinity Management. SLP, also known as Soft Love Potion, is Axi Infinity's primary in-game currency and reward token.
In the year At the beginning of 2024, Sky Mavis announced that SLP was getting a job again. Including a capped token offering and a “stability fund” that buys SLP over a period of time to keep the token price within certain target points. SLP can be obtained with Axie Infinity by winning matches.
Pixel is also set to launch its own PIXEL token on Ronin soon, while other games may launch tokens in the future by expanding and holding airdrop campaigns.
What games are on Ronin?
Ronin's most popular game is Axie Infinity (which includes Origin, Raylight, and local games), but there are also games like Axie Classic, Project T Prototype, and Lunasian Earth Defenders.
Beyond the Axie IP, Sky Mavis is starting to do it. Bring in foreign game developers On the Ronin blockchain, adding Pixels, Zoids Wild Arena, Machines ArenaTribesters: Isle of Solas and Civitas, to name a few.
In the year After migrating from Polygon in late 2023 and launching a game-to-air campaign that ended in January 2024, they were credited with helping to revive interest around the Ronin chain. The game has seen an impressive growth in Ronin's active users. Leveraging other games on the platform and reviving the spirit around the promises.
Edited by Andrew Hayward.
