Ronin (RON) is the main token in the Ronin blockchain, a Web3 gaming platform developed by Sky Mavis. It has various functions, such as paying transaction fees, supporting network governance, and can be staked for rewards. The Ronin Network includes a layer-1 blockchain that is compatible with the Ethereum Virtual Machine (EVM) and is designed to improve the gaming experience by overcoming issues such as high gas fees and slow transaction speeds on the Ethereum network.
Kalkulator Ronin ke Rupiah (RON to IDR)
Konversi Harga Ronin hari ini ke dalam Rupiah sebaliknya.
Key stats
Market Capitalization
IDR 12.397.593.876.180
Trading volume 24H
IDR 214.474.693.734
Volume / Market Cap
1,72997031420813773828 %
Fully Diluted Valuation
IDR 20.015.821.859.668
All time high
IDR 70.327
Circulating supply
RON 619.389.699
Max supply
RON 1.000.000.000
Total supply
RON 1.000.000.000
About Ronin (RON)
Ronin is an EVM blockchain designed specifically for gaming, created by Sky Mavis, the developer behind the popular Web3 game Axie Infinity, which has generated over $1.3 billion in revenue. Ronin is the only blockchain that has proven capable of scaling a single game to support millions of daily active users and has handled over $4 billion in NFT transactions. Ronin is designed for near-instant transactions and extremely low fees, allowing millions of in-game transactions to occur seamlessly, making it the top choice for Web3 games.
Ronin (RON) Working Mechanism
Ronin uses a Delegated Proof-of-Stake (DPoS) consensus mechanism, where users can stake their RON tokens to participate in the validation process. Validators are selected based on the number of RON tokens they stake, with more tokens increasing their chances of being selected.
At launch, Ronin uses a Proof of Authority (PoA) mechanism, where a small group of trusted validators selected by Sky Mavis are tasked with validating transactions and safeguarding the network. PoA enables high transaction speeds and low fees as it relies on only a few validators without the need for complex calculations.
To increase decentralization without sacrificing performance, Ronin now combines PoA and DPoS. In the DPoS mechanism, token holders can delegate their stake to validators of their choice, who are tasked with verifying transactions and generating new blocks.
Validators who receive more token delegations have a greater chance of being selected. Once validators are selected through DPoS, they take turns producing blocks using a PoA approach. This combination allows Ronin to maintain the speed and efficiency of PoA while reducing the risk of centralization by involving the wider community in validator selection.
Uniqueness of Ronin (RON)
Ronin is specifically designed to support gaming and NFTs, making it highly relevant in the blockchain gaming ecosystem, especially through popular games like Axie Infinity. In this game, players can collect Axie with varying rarity levels and stats, and breed to create offspring with unique characteristics. The combination of a focus on blockchain gaming and features such as Axie collection and breeding makes Ronin unique and highly appealing to the gamer community as well as NFT enthusiasts.
Advantages and Disadvantages of Ronin (RON)
Advantages
- Low Fees: Very small gas fees compared to Ethereum.
- Ronin allows performing thousands of transactions per second quickly and cheaply
- Large user base of Axie Infinity supports the Ronin ecosystem.
- High security as it is secured by a Proof-of-Stake (PoS) sidechain validated by trusted validators.
Disadvantages
- Decentralization limitation where Proof of Authority makes Ronin more vulnerable to centralization.
- Dependence on Axie Infinity so Ronin’s popularity is highly dependent on the success of Axie Infinity.
Ronin (RON) Features
- Mavis Market
Mavis Market is an NFT marketplace that allows creators to introduce or migrate their NFT collections. One of its key features is its guaranteed royalty approach, where creators can specify the royalty percentage of their work, providing a fair incentive for content creators.
- Gaming Platform
As a gaming platform, Ronin has become a hub for various innovative and creative blockchain games. One of Ronin’s most iconic games is Axie Infinity, which pioneered the Play-to-Earn genre and boomed in 2021. To date, Axie Infinity remains one of the most popular Web3 games and continues to define the blockchain gaming ecosystem.
- Ronin Name Service (RNS)
Ronin Name Service (RNS) is a unique naming system on the Ronin blockchain that makes it easier to create domain names ending in .ron, making them more readable. RNS adopts the concept of Ethereum Name Service (ENS) with an additional distinguishing feature, the anti-squatting fee. This feature gives users a greater chance of getting a username that suits them.
- Ronin Wallet
Ronin Wallet is the main wallet on the Ronin network that supports standardized tokens such as RON, AXS, and SLP. Available in the form of desktop browser extensions and mobile apps, this wallet allows users to perform cryptocurrency and NFT transactions easily without high gas fees.
Key Figures in Ronin (RON)
Ronin Network was founded by Sky Mavis, a technology-based game studio that also created the famous game Axie Infinity. Sky Mavis founder and CEO Trung Nguyen led the development of Ronin Network with a team of members including Andy Ho, Aleksander Larsen, Jeffrey Zirlin, Tu Doan, and James Nguyen.
Jeffrey Zirlin, a Yale graduate, has contributed to the development of Sky Mavis over the past four years, while Aleksander Leonard Larsen, who has been active in blockchain since 2017, co-founded Sky Mavis and Axie Infinity. Larsen also led various investment rounds that supported the company’s growth. The team brings their expertise in blockchain and gaming to bring innovations like Ronin Network.
Ronin (RON) History and Development
The Ronin token (RON) was launched in 2022 alongside the launch of Katana DEX. However, the Ronin blockchain itself has been operational since 2021. In its first month of existence, July 2021, Axie Infinity running on Ronin recorded a remarkable increase, with the trading volume of NFTs rising by 300% compared to the previous month and the number of NFT traders growing by 180%.
In its first nine months of operation, Ronin recorded remarkable achievements, including amassing 250,000 active addresses, reaching $5 billion TVL (Total Value Locked), over 2 million e-wallet downloads, and accounting for 15% of all NFT transactions in the market. Its DEX platform, Katana, became the second most popular decentralized exchange based on weekly active users, enabling token transactions in the Axie Infinity ecosystem with ease.
To support further development, Sky Mavis has completed three investment rounds totaling $160 million, including a $152 million Series B round backed by investors such as FTX, Aloz Crypto, and Paradigm. This funding is being used to expand the Ronin ecosystem and continue developing Axie Infinity.
How to Buy Ronin (RON)
Interested in purchasing this particular crypto asset? You can buy Ronin (RON) by following these steps:
- Install Nanovest app on the App Store or Play Store.
- Register according to the instructions.
- Verify your identity for security and convenience when buying crypto through the KYC feature which you can do in just 1 minute.
- Top Up your balance to your Nanovest account.
- Go to the Crypto menu, search and select Ronin (RON).
- Click the Buy button and confirm the purchase with your desired amount. You can start with only IDR 5,000.
Before investing in the crypto asset, be sure to conduct research and analysis first. You can do this by checking the crypto asset profile, industry conditions, monitoring price movement trends, and observing its liquidity and trading volume. Performing this analysis is crucial so you can formulate an accurate investment strategy and minimize losses.
Is it Safe to Buy Ronin (RON) on Nanovest?
Absolutely. Nanovest is supported by a number of professional partners with a strong reputation for providing quality services. One of these includes the technology backing of the S-Quantum Engine by Sinarmas Financial Services.
For global and US stocks, Nanovest collaborates with brokers registered with the Financial Industry Regulatory Authority (FINRA) in the United States – which ensures Nanovest users’ broker accounts up to US$500k by the Securities Investor Protection Corporation (SIPC) in the United States.
As for crypto assets, Nanovest is an Indonesian crypto exchange registered with the Commodity Futures Trading Regulatory Agency (Bappebti). The Nanovest platform itself is also insured through a partnership with Sinarmas Insurance.
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