Thursday, December 7, 2023

Ronin Network’s Exponential Growth Explained in a New Report

Axie Infinity, the blockchain-based game has been quite popular in recent months. Its NFTs surpassed all NFT collections when calculated on all-time high sales basis. Ronin, the sidechain of Axie Infinity has also seen hyper growth.

Ronin Network

A product of Sky Mavis, Axie Infinity based on ethereum blockchain has seen increased NFT sales crossing all NFTs released till date. The all-time high sales of $3.85 billion have come from 12.6 million sales transactions and 1.44 million NFT buyers. While this game is based on ethereum, the protocol uses Ronin to solve scaling problems. According to Martin Lee, a Nansen researcher, Layer One of ethereum was not designed for gaming.

Solving Ethereum-based Problems

To overcome scaling and high fee problems, the development team of Axie Infinity has made Ronin sidechain. It is designed to improve transactions, making them cheaper and faster. The research of Lee compares it to L2 blockchain protocol Arbitrum One and sidechain Polygon. It explains the native wallet of Ronin sidechain and how it will process sidechain transactions. In terms of scaling, this report shows how last November Ronin was able to process 560% of total ethereum transactions on ethereum blockchain network.

The study says there is no maximum transaction per second official documentation about this Ronin network but its block time is -3s. Asset transfer and trading on Axie marketplace take place within a few seconds. The gas fee comparison has also been made to highlight Ronin’s superiority over other solutions. It also discusses the centralized exchange platform Katana. The report explains the layering of multi-chain. Lee says that Ronin network has proved its capability to provide scaling solutions for gaming within a year of its launching.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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