Ronin, the blockchain known for hosting popular Web3 games like Pixels, has taken a significant step forward with the launch of the Ronin Name Service (RNS) which starts today, November 15th. This brings another naming service into the Web3 space that grants users an opportunity to own their identity.
Ronin is an EVM-based blockchain developed for play-to-earn games, particularly known for its association with the popular game Axie Infinity.
It was created by Sky Mavis, a play-to-earn game development studio, to decentralize blockchain games and optimizing the network for near-instant transactions and nominal fees to facilitate in-game transactions.
Ronin initially used a proof-of-authority consensus, where trusted validators maintained the network and verified transactions. The ecosystem includes decentralized applications (dApps) built on the Ronin blockchain to simplify game development and gameplay.
What is RNS?
The RNS (Ronin Naming System) serves as a fundamental framework for establishing users’ identities on the Ronin blockchain across various platforms such as games and decentralized applications (dApps).
Acting as a crucial component of a user’s identity, RNS simplifies the often intricate and lengthy strings of characters associated with Ronin addresses into easily readable and recognizable names.
In essence, RNS operates as a human-readable naming system, making blockchain addresses more user-friendly. Instead of dealing with complex alphanumeric combinations, users can identify each other through names within the Ronin ecosystem.
A distinctive feature of RNS is the use of the “.ron” suffix for its names, distinguishing it from the more commonly seen “.eth” suffix in similar systems.
This unique suffix adds a specific identifier to Ronin addresses, making them easily distinguishable and aligned with the Ronin ecosystem’s identity structure.
Securing .ron name
The sale of the RNS (Ronin Naming System) scheduled for November 15th, presents users with the chance to claim and secure their .ron names within the Ronin blockchain ecosystem. Ronin said that 30% of the proceeds from every RNS sale contribute to the Ronin Treasury.
This contribution enhances the overall value of the RON token through several channels, including supporting network transaction fees (gas fees), providing staking rewards, and gaining ownership stakes in the Katana decentralized exchange (DeX) and Mavis Market, which involves associated fees.
It added that users can start buying their preferred names from as low as $5 USD.
