The RON coin, the native token of the Ronin Network, is based on an Ethereum sidechain specifically designed for blockchain gaming. It supports EVM-compatible smart contracts and protocols, enabling developers to build high-performance, feature-rich blockchain games. As an investor, you might wonder about the value and long-term investment potential of RON coin. Let's dive into the details to see if RON coin holds promise.
Yes, RON coin has some investment value. According to official data, the current price of RON coin is $2.97, which is below its all-time high of $4.4551. The market cap stands at $441 million. Overall, the market development of RON coin is doing alright.
RON supports the Ronin Network, facilitating transactions and in-game purchases. Additionally, it serves as a governance token and staking medium. Ronin, developed by Sky Mavis, is a tailored Ethereum Virtual Machine (EVM) blockchain designed for the unique needs of crypto gaming.
The functionality of Ronin stems from its evolution from Proof of Authority (PoA) to Delegated Proof of Stake (DPoS). Initially, the PoA system enabled trusted validators, chosen based on their expertise and reputation, to maintain the network and validate transactions. This system is highly efficient compared to Proof of Work (PoW), offering fast transaction verification and reduced energy consumption. However, PoA has been criticized for its centralized nature.
To enhance decentralization and user engagement, Ronin integrated DPoS into its network in March 2023. In DPoS, RON token holders can become validators or delegate their stakes to others, directly participating in network maintenance and decision-making. This shift not only democratizes the validation process but also retains the benefits of PoA, such as low transaction fees and high transaction speeds. Through a reward system, validators are incentivized to act honestly and effectively, ensuring the integrity and performance of the Ronin network.
RON coin does have some long-term holding value. Based on available data, the price of RON coin is $2.97, with an unknown initial price and a historical low of $0.1977. The circulating supply is 148,339,298 coins, and it's listed on mainstream exchanges like OKX and MEXC. Overall, RON coin's development looks promising.
Launched in January 2022, RON coin is the native cryptocurrency of the Ronin Network and serves as its backbone. Within the Ronin ecosystem, RON coin has multiple functions, primarily used to pay for gas fees required for network transactions. This enables users to smoothly perform in-game operations and NFT transfers.
Moreover, RON coin plays a crucial role in the staking mechanism that ensures the security and stability of the Ronin Network. Users can stake RON coins to support network validators and receive rewards in return. This process enhances the decentralized nature of the Ronin Network and encourages user participation.
Ronin stands out in Web3 as a fast and secure blockchain platform, which is vital for gaming. The platform can handle 100,000 transactions per second, significantly outperforming traditional blockchains like Ethereum. The transition to Delegated Proof of Stake (DPoS) consensus enhances security and democratizes user participation. Ronin's success in attracting gamers and developers is increasingly evident, proving it to be a favorable choice in the Web3 gaming domain.
According to industry analysts, RON coin might rise to $5.47 by the end of this year. Looking at a longer five-year timeline, this cryptocurrency could grow to $11.82.
It's predicted that by 2035, the value of RON could increase by 508.42%, reaching $19.95. However, these are just analyst predictions and do not guarantee these prices. Investors should consider the unpredictability of the market and conduct thorough research before investing in any specific project, network, or asset.
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