The Ronin Network is a platform created by Sky Mavis to support blockchain-based gaming, particularly Axie Infinity. Launched in February 2021, Ronin Network was created in response to the challenges of Ethereum’s Layer 1 scalability and high transaction fees. Its main goal is to provide fast, seamless and cost-effective solutions for players and developers.
A brief history of Ronin Network
Ronin was developed by Sky Mavis, a game studio founded by Jeffrey Zirlin, who is also co-founder of Axie Infinity. The network was created after the Sky Mavis team became dissatisfied with the effectiveness of Ethereum’s Layer 1 as a platform for games, which prompted them to develop their own blockchain.
What is the Ronin Network?
Ronin Network is a sidechain built on top of the Ethereum Virtual Machine (EVM), optimized specifically for blockchain-based games. The network offers a user-friendly environment, enabling fast and cheap transactions in Play-to-Earn games. Axie Infinity is one of the main projects exploiting the potential of the Ronin Network.
Ronin Ecosystem
Ronin Wallet: the network’s main wallet, allowing users to exchange tokens and access decentralized applications (dApps) in the Ronin ecosystem, including Axie Infinity.
Ronin DEX (Katana): A decentralized exchange that enables token exchange on the Ronin network. Katana DEX supports various liquidity pools, allowing users to seamlessly exchange tokens associated with Axie Infinity.
Ronin Bridge: A bridge that connects the Ronin Network to the main Ethereum chain. It allows users to transfer assets between Ronin and Ethereum, which is important for integration with other blockchain applications.
How does Ronin Network work?
Ronin Network uses a Proof of Authority (PoA) mechanism that ensures fast transactions and network stability through a limited number of validators. In the future, there are plans to move to a Proof of Staked Authority (PoSA) model, combining PoA with delegated Proof of Stake (dPoS) to further increase decentralization and network security.
Projects built on Ronin
Noteworthy projects built on Ronin Network include Katana DEX and Axie Infinity, which plays a key role as the first and most popular game in the Ronin ecosystem.
Summary
Ronin Network is an innovative solution for scaling blockchain-based games, offering speed and low transaction costs. Its development has contributed to the growth of the GameFi ecosystem and demonstrated new opportunities for integrating blockchain technology into the gaming sector.
