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Ronin is an Ethereum sidechain explicitly built for the Axie ecosystem. The network is the backbone of Axie Infinity, powering all of its transactions and holding its assets - Axies, Land, SLP, AXS, Wrapped ETH (WETH). Currently, the network uses a proof of authority based consensus system. This means it has fewer validators but has much faster transaction confirmation times. The set of validators on the network currently includes Binance, Ubisoft and Animoca brands.
Ronin seems like a gaming-specific layer one built with a focus on on-boarding gaming studios and a growing network of indie gamers to give them the necessary tools to bootstrap token economics internally. It could emerge to be very similar to Solana or Binance smart chain in functionality.
