Sky Mavis’ Ronin Bridge Set to Reopen

June 28 has been marked as the reopening date of the bridge that allows Ethereum to Ronin network transfers.

Ronin Bridge Reopens

Sky Mavis, creators of popular PlayAndEarn blockchain game Axie Infinity, will soon reopen the Ronin bridge that connects the Ethereum network to the company’s side chain.

The Ronin Heist, a network hack causing the delay of the Axie Infinity Origin launch, happened on March 29. The hack was linked to a North Korean State-Run cybercrime network, Lazarus Group, and has caused the closure of the Ronin Bridge ever since. Nearly three months since the events, the team is ready to reopen the bridge on June 28.

“Our engineering team has been hard at work preparing for the Bridge to re-open,” the team at Ronin Network tweeted. “We plan on re-opening the Ronin Bridge on June 28th, with all user funds returned.”

Source

Sky Mavis has since reimbursed all user funds through fundraising efforts led by Binance and other institutions. Moreover, Verichains and Certik performed audits to ensure everything was up and running. Further, node stakeholders have already been notified of what needs to be done to reopen the bridge.

Check out the Ronin Network’s Substack post for a full recap.

What is Ronin Network:

Sky Mavis, the company behind Axie Infinity, created Ronin Network, an Ethereum-linked sidechain explicitly designed for blockchain gaming.

The Ronin mainnet employs Proof-of-Authority (PoA). PoA is a modified version of PoS, with validators typically less than 25. On Ronin, validators are in charge of authoring and validating blocks, updating price oracles, approving deposits, and transferring assets (ETH, ERC20, and ERC721) to and from the network.

Learn more about Ronin Network:

Website | Twitter |

Source : bsc.news

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