Ronin Network, the blockchain for the popular play-to-earn game Axie Infinity, has just announced onboarding 16 new validators for its testnet project, Saigon. The platform has also added a crypto staking feature for its testnet.
What Is Saigon Testnet?
Saigon Testnet is a Ronin testnet where blockchain developers can test and deploy smart contracts. The Ronin network developer team launched the Saigon testnet in November 2022.
Interestingly, the Saigon testnet is part of Ronin’s bigger plan to migrate to a Delegated Proof-of-Stake (DPoS) consensus mechanism. The project currently uses a Proof-of-Authority (PoA) model to validate transactions. The PoA consensus mechanism, however, allows only a few validators, which is opposed to the idea of decentralization.
Saigon Testnet Gains 16 Validators
The Ronin Network features two kinds of validators – standard and governing. The difference is that Standard validators perform block validation and production, while Governing validators perform all these features and join the network’s decision-making processes.
Some of Ronin’s new validators are categorized as governing validators. These include BLRD and AlphaLab Capital. DeFi aggregator platform DappRadar is also a governing validator on the platform.
Other validators that joined Ronin include FirstStudio, SuraGaming, BigYak Axie Club, and DBS DAO.
The addition of new validators is expected to bolster the security of the Ronin network at large. This security is much needed after a fatal security breach that swept $625 million from the network.
“We are community-first and look forward to playing an important role in the security and growth of the Ronin network and Axie Infinity ecosystem over the months and years to come,” one of Ronin’s validators said.
Staking Feature Included
Ronin’s latest announcement reveals that the staking feature is now active on the Saigon testnet. Crypto staking is a feature that allows a user to deposit their crypto assets in a blockchain in return for some rewards. Testnet RON, a free token used solely for testnet staking, is the staked asset in this case.
Anyone with Testnet RON can delegate their assets to validators and experience the DPoS mechanism before it goes mainnet on the Ronin network.
Meanwhile, the native cryptocurrency for the Ronin network, RON, currently trades at $0.8.
