The word “ronin” was originally used to describe a Japanese samurai without a master, a warrior left alone due to the death of their lord or loss of privilege. The term in Japanese culture invokes a sense of tragedy. In modern times, Japanese people use it to describe students who failed their college entrance exam. This is where Sky Mavis’ Ethereum-linked sidechain got its name.
In the article “How the Play-to-Earn Industry Can Rebuild Better After the Ronin Attack,” Emfarsis Director Leah Callon-Butler explained that Ronin was specifically designed to overcome the scaling challenges experienced by Axie Infinity. Sky Mavis co-founder and CEO Trung Nguyễn created it after Loom network, the original Ethereum scaling solution Axie was built on, switched its focus from gaming to enterprise blockchain.
The sidechain had been proving itself independent and impenetrable, until the bridge that connects it to the main Ethereum network was exploited for a total of US$625 million at the time of the hack, making it one of the biggest crypto heists to date.
I was shocked and sad but then immediately became calm because it’s the only way to get through this effectively.
— Trung Nguyễn, co-founder and CEO, Sky Mavis
How can the web3 space and blockchain gaming industry rebuild better after the attack? The solution lies in implementing robust security measures, enhancing transparency and communication with users, and forging stronger ties with the broader blockchain community to cultivate a secure and sustainable ecosystem. By placing user trust and safety at the forefront, the industry can promote lasting growth and stability.
Read the full article here:
“How the Play-to-Earn Industry Can Rebuild Better After the Ronin Attack” by Leah Callon-Butler
Published April 7, 2022, on CoinDesk
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