Ronin Network Unveils Permissionless zkEVM – Crypto News – Crypto News
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Ronin Network Unveils Permissionless zkEVM Ronin Network Unveils Permissionless zkEVM

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Ronin Network Unveils Permissionless zkEVM – Crypto News

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11 months ago

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Game developers will be able to deploy Layer 2 blockchains atop Ronin, leveraging a modified version of Polygon’s CDK.

Ronin, the gaming-focused Layer 1 blockchain, has outlined plans to introduce a zkEVM to enable the permissionless creation of Layer 2 networks in its ecosystem.

“In the future, game developers will have the ability to launch their own Layer 2 blockchains on top of Ronin mainnet,” read a statement shared with The Defiant. “These new Ronin chains will use zero-knowledge proofs to open the door to more games, more players, and more economic freedom.”

The Ronin network has enjoyed a fourfold increase in total value locked (TVL) since October 2023. According to DefiLlama, TVL soared from $51 million last year to $181 million today. The network’s RON token has rallied 600% during the same period.

RON Price

Adding the Polygon CDK and tapping burgeoning zkEVM technology could help boost activity across the Ronin ecosystem. zkEVMs are scaling solutions that leverage zero-knowledge proofs to enable private, scalable, and secure execution of smart contracts while maintaining compatibility with the existing Ethereum ecosystem.

Weekly active users are up by 7%, while monthly active users have remained steady at around 2,500, according to a Dune dashboard. Total USDC bridged through Ronin is down from its March 12 peak of $44.6 million to $37.5 million today.

Ronin Bridge Weekly Transactions chart
Ronin Bridge Weekly Transactions

The top three gaming ecosystems built on Ronin – Pixels, Apeiron, and Axie Infinity – have more than 705,000 unique active wallets, according to DappRadar.

Axie Infinity continues to be one of the largest gaming ecosystems in crypto, with 55,000 unique active wallets and over $1 billion in total value locked (TVL).

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