Ronin Sidechain processed 560% more transactions than Ethereum - Blockchain last November
Ronin Sidechain processed 560% more transactions than Ethereum - Blockchain last November
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The blockchain-based game Axie Infinity was a very popular application in the past 12 months, since the NFTs of the game have now exceeded every NFT collection in terms of sales of all time. While Axie Infinity has achieved a total turnover of $ 3.85 billion, Nansen researcher Martin Lee recently published a report on how Ronin, the Sidechain from Axie Infinity, has grown exponentially.
researchers dive deep into the ronin network of Axie Infinity
an infinity The blockchain game based on Ethereum has recorded a considerable amount of NFT sales that exceeded any NFT compilation published so far. Axie Infinity has achieved total sales of $ 3.85 billion of 1.44 million buyers at 12.6 million transactions. Although Axie Infinity is a game based on Ethereum, the protocol uses the Sidechain Ronin to alleviate scaling problems. In the introduction to Ronin of Axie Infinity, Nansen-Researcher Martin Lee explains that Layer One (L1) from Ethereum "was not developed for games".
In order to cope with the problem with high fees and scaling problems, the development team from Axie Infinity has developed the Ronin-Siuchain to enable transactions faster and cheaper. Lee's research report compares Ronin with the Sidechain protocol Polygon and the Layer-2- (L2) Blockchain Arbitrum One. The study also explains how the Ronin-Sidechain has its own native wallet to process sidechain transactions. Interestingly, LEE's report shows with regard to the scaling that last November "Ronin" processed over 560% of the total number of transactions on Ethereum ".
"Although there is no official documentation for the maximum TPS (transactions per second) of the Ronin network, there is a block time of ~ 3S ( ETH average ~ 13S), “emphasizes Lee's study. "The execution of trades on the Axie marketplace and the sending of assets via the network are complete within seconds." The researcher's report also emphasizes a comparison of the gas fees, as the author of the study states:
The gas fees on Ethereum fluctuate between 50-100 Gwei, which makes microtransactions uneconomical. Ronin, on the other hand, offers 100 free transactions per wallet per day. In the future there will be a small fee as soon as the $ ron token is published, but it will probably cost less than $ 1.
study provides that other developers use Ronin, Nansen researchers come to the conclusion: "Ronin is still at the beginning"
The study also deals with the decentralized exchange platform (Dex) by Axie Infinity called Katana. Lee's report emphasizes how multi-chain-layering works and the fact that L1 networks cannot adapt beyond their main specialization, especially in gaming applications. "Many blockchains will specialize whether they want or not," emphasized Lee in the report. Lee also noticed that when Ronin grows up and stable, "other game developers can start building their games on Ronin". Lee's report continues:
Although the Ronin network was introduced less than a year ago, it has proven to be a capable scaling solution for games. The birth of Ronin initiated the rise of Axie Infinity and the Gamefi/Play-to-ear-wave.
LEES study draws the conclusion that the network has defects and is "more centralized than the community wishes", which Sky Mavis developers "took consistent steps to decentralize it". The report determines the distribution of the Ron tokens and the LPS in the Katana-Dex. "Ronin is still at the beginning and it will be interesting to see how the blockchain develops and grows over time. Will Ronin become the preferred blockchain for games? Only the time will show," concludes Lee's study.
What do you think of the study by the Nansen researcher Martin Lee to the Ronin network and how it has been exceeding some L1 networks lately? Let us know your opinion on this topic in the comments below.
Photo credits : Shutterstock, Pixabay, Wiki Commons, Nansen Research, Martin Lee