Ronin Network Potential Analysis: A Thriving Game Public Chain Ecosystem

The recent bull market has prompted investors to actively seek potential value opportunities, providing a chance for some established projects to experience a resurgence. Founded in 2021, Ronin Network has continued to push forward after weathering the bear market, welcoming a new beginning in early 2024.

Data shows that the number of active addresses on the Ronin Network has increased by 3225% in the past three months, peaking at 693,000 on January 25. The price of its token, Ron, has risen over 800% in three months, currently priced at $3.18. What advantages does Ronin Network, a blockchain platform focused on innovating gaming, have? Let's take a closer look.

From Axie Infinity to Ronin Network

Ronin is developed by the game 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 was the leader of GameFi in the last bull market, with peak monthly revenue of 300 million USD. However, as the number of players increased, issues such as slow Ethereum settlement and high gas costs became prominent. To address these challenges, Ronin was born as a long-term scaling solution for Axie Infinity.

As an EVM-compatible chain, Ronin aims to address issues such as high gas fees and slow transaction speeds in gaming. It has processed over $4 billion in transactions and attracted millions of daily active users.

2023 is an important year for Ronin: the launch of the desktop gaming platform Mavis Hub 2, the RON staking feature, the upgrade of Ronin Wallet, the launch of the NFT marketplace Mavis Market, and collaborations with multiple gaming companies to expand the ecosystem.

Thanks to close cooperation with Axie Infinity, Ronin's market share in the blockchain gaming market once surpassed BNB Chain, with daily active addresses remaining stable at over 600,000. The Ron token has recently surged over 800%, reaching a price of $3.18, essentially recovering to the peak of the last bull market.

How Ronin Network Works and Its Advantages

Ronin Network is an innovative blockchain platform based on the DPoS consensus mechanism, providing a highly scalable environment for gamers and developers. Its working principles and technical advantages are as follows:

Sidechain Architecture

As an Ethereum sidechain, Ronin has an independent block generation mechanism and consensus algorithm, allowing for asset interoperability with the Ethereum mainnet through bridging. This enables Ronin to focus on optimizing gaming scenarios while maintaining a connection to the Ethereum ecosystem.

Hybrid Consensus Mechanism

Ronin adopts a hybrid consensus mechanism of PoA and DPoS. PoA uses identity as stake to enable fast transactions. DPoS allows token holders to delegate voting rights to validators. The hybrid mechanism improves decentralization and security while maintaining high throughput and low confirmation time.

Highly Scalable Blockchain Platform

Ronin has the following technical advantages:

• High throughput: processing 100,000 transactions per second
• Low latency: fast transaction confirmation and response
• Low transaction fees: far below the Ethereum network
• Compatibility: Compatible with EVM, facilitating developers to migrate applications.

RON Token Economic Model

RON is the native token of Ronin, with multiple functions:

• Pay transaction fees
• Staking participation in network security maintenance
• Participate in network governance decisions

RON Distribution: Sky Mavis holds 30%, the community 30%, the ecosystem fund 15%, and the remainder is distributed through staking rewards.

Ronin Network Popular Chain Game Overview

Ronin has partnered with several globally renowned game studios to develop new blockchain games. At the same time, it is attracting mature blockchain game projects to strengthen its position as a mainstream blockchain gaming platform.

Axie Infinity

Axie is the largest game on Ronin, where players can breed, raise, and battle Axie creatures. It pioneered the Play-to-Earn model in 2021 and remains one of the most popular web3 games to this day. Recently, the AXP mechanism was introduced to facilitate Axie upgrades and inject new momentum into the NFT ecosystem.

Pixels

Pixels is a pixel-style metaverse farming game that migrated from Polygon to Ronin in 2023. Players can interact, farm, and play mini-games in the pixel world to earn token rewards. Pixels has integrated over 90 Web3 projects and raised $4.8 million. Its token PIXEL was recently listed on Binance, showing significant growth.

Zoids Wild Arena

A TCG game developed by ACT Games, where players can collect cards of mechanical creatures from the Zoids series to battle. This is the first game to be migrated to Ronin after the collaboration between ACT Games and Sky Mavis, bringing traditional game IP resources to Ronin.