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The Ronin Network is experiencing a resurgence with active addresses increasing by 3225% and RON rising over 800%.
Ronin Network: A New Force in the Game Blockchain Platform
The recent bull market has provided some established projects with the opportunity for a rebirth. As a public chain established in 2021, Ronin Network has weathered the bear market and, through continuous efforts in 2023, is迎来了新的发展机遇 in early 2024.
Data shows that the number of active addresses on the Ronin Network has increased by 3225% in the past three months, reaching a peak of 693,000 on January 25. Its token RON has also seen an increase of over 800% in the past three months, with the current price at $3.18. So, what exactly is the Ronin Network? Why is it so sought after by investors? As a blockchain platform focused on innovating gaming, what advantages does Ronin Network have? Let's explore together.
From Axie Infinity to Ronin Network
Ronin is developed by the gaming technology-focused studio Sky Mavis, founded by Yale graduate Jeffrey Zirlin and blockchain expert Alexander Leonard Larsen, who is also one of the founders of Axie Infinity.
Axie Infinity is a leading blockchain game that drove the GameFi craze during the last bull market. At its peak, its monthly revenue reached $300 million, and its daily revenue once surpassed that of well-known mobile games. The success of Axie Infinity attracted a large number of gaming enthusiasts and developers to dive into the Web3 gaming field, shaping today's GameFi landscape. However, as the number of players entering the market increased, the high Gas fees and slower settlement speeds of Ethereum gradually raised the entry costs for players. With new users declining and the overall market entering a bear market, Axie Infinity is also facing developmental bottlenecks.
To address these issues, Ronin was born. As a long-term scaling solution designed specifically for Axie Infinity, Ronin aims to fundamentally solve key problems such as the high Gas fees and slow transaction speeds on Ethereum, providing players with a smoother and more seamless gaming experience. Currently, Ronin has shown tremendous 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 the development of Ronin. In January, the desktop game aggregation platform Mavis Hub 2 was released, in March the RON staking feature was launched, in April the transition to a delegated proof-of-stake mechanism was made and the Ronin Wallet functionality was upgraded, in May the NFT marketplace Mavis Market was introduced, in September the blockchain game project Pixels migrated from Polygon to the Ronin network, in October the Lucas upgrade and Shillin hard fork were launched on the mainnet, in November a partnership was established with the South Korean game company ACT Games, and in December collaborations were established with several globally renowned game studios, further expanding the game ecosystem of Ronin.
The robust development of the Ronin Network has won the trust of market investors. Thanks to its close collaboration with Axie Infinity, which serves as a huge traffic pool providing an initial user base for Ronin, Ronin's market share in the blockchain gaming sector once exceeded that of BNB Chain, ranking first, with the daily active address count stabilizing at over 600,000. This traffic support has also enabled the RON token to achieve more than 800% increase over the past three months. As of now, the RON price is $3.18, which has basically recovered to the peaks of the previous bull market. This further demonstrates Ronin's competitiveness in the market and investors' confidence in it.
How Ronin Network Works and Its Advantages
Ronin Network is an innovative blockchain platform based on the delegated proof of stake (DPoS) consensus mechanism, designed to provide a highly scalable environment for gamers and developers. By adopting advanced technologies and economic models, Ronin Network successfully addresses issues such as scalability and high transaction fees of the Ethereum network.
Sidechain architecture
As a sidechain of Ethereum, Ronin has its own independent block generation mechanism, consensus algorithm, etc., and can achieve asset interoperability with the Ethereum mainnet through bridging. This sidechain architecture allows Ronin to focus more on optimizing gaming scenarios while maintaining a connection with the Ethereum ecosystem. Through the Ronin bridge, users can freely transfer assets between the two chains.
Hybrid Consensus Mechanism
Ronin Network adopts a hybrid consensus mechanism of Proof of Authority (PoA) and Delegated Proof of Stake (DPoS). This hybrid mechanism combines the advantages of two different approaches, enhancing decentralization and security while maintaining high transaction throughput and low confirmation times.
( highly scalable Blockchain platform
Ronin Network has the following technical advantages:
![What is the potential of Ronin Network, jointly initiated by the founders of Axie and its thriving ecosystem?])https://img-cdn.gateio.im/webp-social/moments-fef4cc1294793c1bf40267090e6fff9d.webp###
( RON token economic model
RON is the native token of the Ronin Network, with multiple functions:
In terms of token allocation, 30% belongs to Sky Mavis, 30% is used for community incentives and development, 15% is allocated as an ecosystem fund, and the remaining portion is distributed through a staking reward mechanism.
![What is the potential of the Ronin Network, co-initiated by the founders of Axie and thriving in the ecosystem?])https://img-cdn.gateio.im/webp-social/moments-33b540a87d38e504824adb4140b7ca01.webp(
Ronin Network Popular Blockchain Games Overview
) Axie Infinity
Axie Infinity is the biggest game on Ronin, allowing players to breed, raise, and battle fantastical creatures called Axies. The game pioneered the Play-to-Earn model in 2021 and remains one of the most popular Web3 games globally. Recently, Axie launched a new mechanism AXP, allowing players to promote the progress and upgrade of Axies by winning and earning points in Origins.
![What is the potential of Ronin Network, co-launched by the founders of Axie, with a thriving ecosystem?]###https://img-cdn.gateio.im/webp-social/moments-2d8ea7f78ee0a2f62bbcc2317cf71a03.webp(
) Pixels
Pixels is a social, casual, open-world Web3 game and platform. As a pixel-style metaverse farming game, Pixels recreates the atmosphere of classic 16-bit role-playing adventurers. In 2023, Pixels migrated from Polygon to the Ronin network, becoming another leading chain game on Ronin after Axie Infinity.
![What is the potential of Ronin Network, jointly initiated by the founders of Axie, with a thriving ecosystem?]###https://img-cdn.gateio.im/webp-social/moments-b89ddfc3adf1f37c74798ce63e7fb481.webp(
) Zoids Wild Arena
Zoids Wild Arena is a TCG game developed by the South Korean game company ACT Games. In November 2023, Ronin's developer Sky Mavis collaborated with ACT Games, planning to bring all of ACT's games to the Ronin network. Zoids Wild Arena is the first game under ACT Games to migrate to Ronin, marking the substantial phase of cooperation between the two parties.
![What is the potential of Ronin Network, co-founded by Axie founders and flourishing in the ecosystem?]###https://img-cdn.gateio.im/webp-social/moments-31bf642a363e4918dc96c89159c7f0e1.webp(
With the addition of more high-quality game projects, Ronin Network is solidifying its position as a mainstream chain gaming platform, injecting new vitality into the development of the Web3 gaming ecosystem.
![What is the potential of the Ronin Network, jointly initiated by the founders of Axie and thriving in the ecosystem?])https://img-cdn.gateio.im/webp-social/moments-e01044b23e7323fe8a117dc87328b2ad.webp###