What is RONIN Network(RON)?

Ronin is an EVM blockchain designed exclusively for gaming. Ronin, founded by Sky Mavis, the inventor of Web3's breakout product Axie Infinity, which produced over $1.3 billion in revenue, is the only blockchain that has scaled a single game to accommodate millions of daily active users and handled over $4 billion in NFT volumes. 

Ronin optimizes for near-instant transactions and low costs, allowing millions of in-game transactions to take place easily, making it the top solution for Web3 games.

The Ronin Network is a groundbreaking blockchain compatible with the Ethereum Virtual Machine (EVM). Its primary goal is to enhance the gaming experience on the blockchain by addressing issues such as high gas fees and slow transaction speeds associated with Ethereum.

This focus has not only improved the gameplay of Axie Infinity but has also positioned Ronin as a significant player in the Web3 gaming sector.

Ronin's ability to handle up to 100,000 transactions per second and its shift from a Proof of Authority (PoA) to a Delegated Proof of Stake (DPoS) consensus mechanism highlights its superiority over traditional blockchains. These updates ensure both speed and security, which are essential for a smooth gaming experience.

In line with its ambition to become the leading blockchain for gaming, Ronin has already begun making substantial progress. An example of this is the migration of the popular game Pixels from Polygon to Ronin in November 2023. 

This strategic move not only added a renowned title to Ronin's portfolio but also led to a significant increase in network activity, showcasing Ronin's capability to support and enhance top-tier gaming projects in Web3.

What is the native token for Ronin Network?

Introduced in January 2022, RON serves as the native token of the Ronin blockchain, an integral part of the ecosystem developed by Sky Mavis for Axie Infinity. 

The introduction of RON has significantly improved the functionality of the Ronin sidechain, particularly in facilitating low-cost, efficient token swaps through the decentralized exchange Katana, addressing Ethereum's high gas fee issues.

With Ronin's transition to a Delegated Proof-of-Stake (DPOS) network in March 2023, the utility of RON expanded to staking. Users can now stake RON with network validators to earn rewards, enhancing its versatility within the Ronin ecosystem.

Who are the founders of Ronin Network?

Ronin was founded by Sky Mavis, the team behind Axie Infinity, and is supported by notable investors like Accel, a16z, Binance Labs, Animoca Brands, Paradigm, Libertus, and Mark Cuban. Alexander Leonard Larsen and Jeffrey Zirlin are co-founders.

What is the working mechanism on Ronin Network?

Ronin has evolved its operational structure, transitioning from a Proof of Authority (PoA) consensus mechanism to a Delegated Proof of Stake (DPoS). Originally, the PoA system relied on trusted validators selected for their expertise and standing to manage the network and authenticate transactions. 

This approach offered fast transaction validation and minimized energy consumption compared to Proof of Work (PoW) methods. However, PoA drew criticism for its centralized setup.

In March 2023, Ronin embraced DPoS to promote decentralization and user engagement. Under DPoS, RON token holders have the opportunity to serve as validators or delegate their stakes to others, actively participating in network upkeep and decision-making. 

This transition democratizes the validation process while maintaining PoA's advantages, such as low fees and swift transaction processing. Validators are motivated to operate honestly and effectively through a reward mechanism, safeguarding the integrity and efficiency of the Ronin network.

What makes Ronin Network unique?

RON is the Ronin blockchain's ecosystem token. The RON token allows users to pay for Ronin transactions, offers decentralized finance (DeFi) features like as community governance, and provides value through staking through validators to gain rewards.

To participate in the validation of blocks, Ronin validators must have and stake RON. They are compensated with newly minted RON. These incentives are distributed among a validator and its delegators based on the RON staked with the validator.

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