Ronin to transition into Ethereum Layer 2 via hard fork

Ronin (RON) will conduct a hard fork on May 12 to transition into an Ethereum Layer 2 network, CoinDesk reported. The move aims to enhance security and improve tokenomics and scalability following a major bridge hack in 2022. Ronin stated that adopting the OP Stack will allow it to leverage Ethereum's security and transaction throughput. Following the hard fork, the network will also implement a new staking reward model based on contributions.