Ronin (RON) Complete Guide - Innovative Blockchain Platform Specialized in Games
Hello! We will take a closer look at Ronin (RON), which has recently been attracting attention as a fusion of the gaming industry and blockchain technology. Some of you may find blockchain technology complicated, but today we will explain it step by step so that anyone can easily understand it.
Ronin is already causing innovative changes in the gaming industry, and in particular, it is positioned as a leader in the Play-to-Earn (P2E) model. So, let's take a look at what exactly Ronin is and why it's getting so much attention.
Introducing Ronin (RON) - The Birth of a Blockchain Specialized for Games
Ronin is an Ethereum-based sidechain, a blockchain platform specialized for games and the NFT (Non-Fungible Token) ecosystem. Developed by Sky Mavis, this platform was created specifically for the successful operation of 'Axie Infinity', which is gaining popularity worldwide.
The biggest feature of Ronin is that it solves the limitations of the existing Ethereum. By overcoming the high gas fee (transaction fee) and slow transaction speed of Ethereum, game users can enjoy blockchain-based games more smoothly.
Ronin's core values are 'accessibility' and 'user experience'. It simplifies complex blockchain technology so that game users can easily access it, making it easy for anyone to use even without deep knowledge of blockchain.
Ronin's History and Development
Ronin's journey began with the explosive growth of Exi Infinity in 2020. At the time, Exy Infinity was running on the Ethereum network, but as the number of users increased rapidly, it faced high gas fees and network congestion issues.
Early 2020: Exy Infinity's user base surges, exposing the limits of the Ethereum network
April 2021: Ronin sidechain beta version launched
July 2021: Full-scale Ronin network launched
2022: Expanding the ecosystem with various games and DeFi protocols
2023-present: Establishing multi-chain compatibility and developer-friendly environment
The need for Ronin has become even more apparent, especially as Exy Infinity becomes more popular in the Philippines in 2021. Many users started earning real income through games, and low transaction costs and fast processing speeds became essential.
Currently, Ronin has evolved beyond a platform that simply supports Exi Infinity to a comprehensive game infrastructure where various game developers can build their own projects.
Ronin's operating principle and technical features
Ronin has a sidechain structure connected to Ethereum via a bridge. This structure allows it to maintain the security of Ethereum while achieving high processing performance as an independent network.
DPoS (Delegated Proof of Stake) consensus mechanism: Ronin operates the network through 21 validator nodes. This is a design that strikes a balance between decentralization and efficiency.
Users can easily manage their assets through the Ronin Wallet. This wallet is provided as a browser extension similar to MetaMask, and also supports mobile apps.
Ronin's smart contract function is fully compatible with Ethereum. Therefore, existing DApps (decentralized applications) developed on Ethereum can be easily ported to Ronin, and it provides a familiar development environment for developers.
Of particular note is Ronin's 'Instant Finality' feature. This means that transactions are finalized as soon as they are included in a block, so users do not have to wait for additional confirmation time.
Diverse Applications of Ronin
Ronin's scope of application is expanding beyond games to various fields. Initially launched to support a single game, Exi Infinity, it has now evolved into a comprehensive Web3 ecosystem.
Gaming: Various P2E games based on Ronin are being released. Various games by genre, such as 'Pixels', 'The Machines Arena', and 'Kaidro', are being developed, providing new fun and profit opportunities to users.
NFT Marketplace: Ronin-based NFTs are traded in various forms, from in-game items to digital art and collectibles. In particular, NFTs linked to games provide useful functions in actual gameplay, and have value beyond simple collectibles.
Decentralized Finance (DeFi): DeFi services such as token swapping, liquidity pool participation, and staking through Ronin DEX are also actively used. In particular, you can earn rewards by contributing to network security through RON token staking.
Social and Community Platforms: Ronin-based social platforms have emerged, providing various forms of Web3 social experiences such as game guilds, NFT collector communities, and creator economies.
Ronin Exchange and Investment Methods
Ronin (RON) tokens are currently available for trading on various major exchanges. Each exchange has its own characteristics, pros and cons, so it's important to choose an exchange that fits your investment style and where you live.
There are factors to consider when choosing an exchange. First, check the trading fees. Maker/taker fees vary by exchange, and there are also different discounts depending on the VIP level.
The security level of each exchange is also an important consideration. Please check 2FA (two-factor authentication), cold wallet storage ratio, and insurance subscription to choose a safe exchange.
For Korean users, it may be convenient to use a domestic exchange that allows direct KRW trading, and when using an overseas exchange, it is recommended to check tax reporting information in advance.
Ronin Community and Ecosystem
Ronin's community is very active worldwide. Especially due to the nature of the game-centered ecosystem, gamers and developers actively communicate and contribute to the development of the ecosystem.
Official Community Channels:
• Discord: Real-time communication and sharing of game-related information
• Twitter: Latest updates and announcements
• Reddit: In-depth discussions and technical discussions
• Telegram: Community groups in various languages
The Korean community is also quite active. You can share information and communicate in Korean on Naver Cafe, Discord Korea Channel, Telegram Korea Group, etc.
The following activities take place in the community:
• Sharing game strategies and tips
• Exchanging NFT transaction information
• Introducing new projects
• Help solving technical issues
• Investment information and market analysis (not investment advice, but information sharing)
In addition, the Guild system is actively operated within the Ronin ecosystem. Guilds work together within the game to generate profits more efficiently and provide assistance to new players.
How to use the Ronin Wallet and Security
Ronin Wallet acts as a gateway to the Ronin ecosystem. Through this wallet, you can safely store and manage RON tokens, various game tokens, NFTs, etc.
The wallet setup process is as follows:
1. Install the browser extension from the Ronin Wallet official website
2. Generate 12 seed phrases when creating a new wallet and store them in a safe place
3. Set a wallet password (strong password recommended)
4. Bridge assets from Ethereum to Ronin
5. Connect and use various DApps
Security precautions:
• Never store seed phrases online
• Beware of phishing sites - always check the official URL
• Perform regular wallet backups
• It is recommended to use a hardware wallet for large assets
• Always double-check suspicious transactions before approving them
One of the advantages of Ronin Wallet is its user-friendly interface. It is intuitively designed so that even general users who are not familiar with complex blockchain technology can easily use it.
A mobile app is also provided so that you can manage your assets anytime and anywhere, and conveniently conduct transactions even while playing the game.
Considerations and Risk Management for Investing in Ronin
If you are considering investing in Ronin, there are a few important things you should be aware of. As with all cryptocurrency investments, investing in Ronin carries significant risks.
Things to consider before investing:
• Invest only with your own spare cash
• Psychologically prepare for market volatility
• Continuously monitor the technical progress of the project
• Comparative analysis with competing projects
• Prepare for changes in the regulatory environment
Here are some factors to consider when evaluating Ronin’s investment value:
Positive Factors:
• Continued growth of the gaming industry
• Popularization of the P2E (Play-to-Earn) model
• Strong technical team and ongoing development
• Active community and ecosystem
• Diverse partnerships and collaborations
Risks:
• Impact of changing gaming trends
• Emergence of competing platforms
• Regulation Uncertainty
• Technical security risks
• Market volatility
Please conduct sufficient research and analysis before making any investment decisions. It is important to collect information from multiple sources and establish your own investment strategy.
Conclusion
Ronin (RON) is a notable project that is leading the innovation of the blockchain gaming ecosystem. Beyond just a cryptocurrency, it is proposing a new digital economic model through the convergence of gaming and blockchain technology.
The Ronin ecosystem is expected to continue to develop in the future and is expected to play an important role not only in the gaming industry but also in the entire Web3. However, all investments carry risks, so please approach them with careful judgment and sufficient research.