Ronin is a blockchain platform built for gaming. It helps developers create and manage blockchain games and assets. Users can make token transactions and use NFTs on Ronin. The platform offers speed and cost benefits compared to other blockchains.
I first learned about Ronin when exploring gaming cryptocurrencies. Ronin became popular because of Axie Infinity, a game where players collect and battle digital pets. This game showed how a crypto exchange could support game-based economies.
Ronin solves common blockchain problems for games. Traditional blockchains like Ethereum often have high fees and slow transaction times. Ronin processes transactions faster and with lower costs, making it better for gaming.
The Ronin blockchain uses RON as its native token. Players need RON to pay for transaction fees and participate in the network. If you own RON tokens, remember that they count as taxable assets. If you're asking what happens if you don't file your crypto transaction, consider that It can lead to penalties from tax authorities.
Ronin also supports NFTs (Non-Fungible Tokens). These digital assets let players truly own their in-game items, characters, and land. Players can buy, sell, and trade these items outside the games.
The security of Ronin has improved after past challenges. In 2022, Ronin faced a security breach, but the team has since strengthened its protection measures.
