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What Is Ronin?

Mar 29, 2023
4 min read

This blog post will cover:

  • About Ronin (RON)
  • Where did Ronin (RON) come from?
  • What are the advantages of Ronin (RON)?
  • What are the disadvantages of Ronin (RON)?
  • How to buy Ronin (RON) on SimpleSwap?

About Ronin (RON)

Ronin (RON) is a blockchain-based platform that aims to solve scalability issues in gaming and non-fungible token (NFT) marketplaces. 

Ronin operates as a sidechain to the Ethereum blockchain, which allows for fast and inexpensive transactions, without the need for high gas fees. Ronin also utilizes a technology called ZK-rollups, which allows for thousands of transactions to be bundled together and processed as a single transaction, further increasing scalability and lowering costs.

RON is a native token of the project. It is available for purchase on SimpleSwap. 

Where did Ronin (RON) come from?

The Ronin crypto project was officially launched by Sky Mavis, the Vietnamese tech company behind the project, in early 2021. The Ronin platform aims to solve scalability issues by utilizing ZK-rollups and a Proof-of-Stake consensus mechanism. Since its launch, the Ronin project has gained attention within the gaming and blockchain communities for its innovative approach to these issues.

What are the advantages of Ronin (RON)?

  1. Focus on the gaming industry
    The platform is designed to handle large volumes of transactions, which is crucial for gaming applications. Additionally, Ronin's architecture allows for seamless integration with other blockchain-based gaming platforms, which could lead to a more interconnected and immersive gaming experience.
  2. Commitment to sustainability
    The platform uses a proof-of-stake consensus mechanism, which is less energy-intensive than the proof-of-work mechanism used by many other blockchains.

What are the disadvantages of Ronin (RON)?

  1. Decentralization issues
    It is currently less decentralized than some other blockchain platforms, as the Sky Mavis team retains a significant degree of control over the network.
  2. Adoption issues
    As Ronin is a relatively new platform, there is some uncertainty around its long-term viability and adoption.

How to buy Ronin (RON) on SimpleSwap?

If you want to buy RON, SimpleSwap is always ready to assist you. Follow the steps we have listed below:

  1. Select the cryptocurrency you would like to exchange (e.g., Bitcoin). Enter the amount you want to swap.
  2. Choose RON in the second drop-down list (the crypto you would like to receive). You will see the estimated amount that you will get after the exchange.
  3. Click the Exchange button.
  4. Enter the Recipient's Address. RON will be sent there. Please check that you entered the right address.
  5. Create the exchange.
  6. You will see the BTC deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange. After that, wait for tokens to reach your wallet.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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