As a seasoned crypto investor with a knack for spotting promising projects, I’ve been intrigued by Pi Network since its inception. With my experience in the ever-evolving crypto landscape, I can’t help but appreciate the unique approach this project has taken to mobile mining. The energy-efficient consensus algorithm and the focus on community engagement are indeed commendable. However, as someone who values transparency, I find myself slightly concerned about the lack of clarity regarding the native token launch and open mainnet.
TL;DR
- Pi Network celebrated 2,000 days since its launch but remains unclear about its native token and open mainnet, with a roadmap announcement expected in December 2024.
- The project aims to enable mobile mining using an energy-efficient consensus algorithm and grows primarily through community engagement.
What’s New?
Pi Network – a debatable cryptocurrency initiative designed to let users mine and collect digital assets on their smartphones, has experienced some recent advancements. Just this week, the team marked 2,000 days since its official debut in March 2019.
“This significant achievement is a testament to the consistent, continuous work of our community. As we progress, we are edging ever nearer to our goal of establishing the most inclusive peer-to-peer network and digital environment driven by Pi. Every advancement propels us towards an Open Network, where determination and dedication mold our collective destiny.” (This version maintains the original meaning while using simpler, more natural language.)
Nevertheless, there’s a growing sense of uncertainty within the Pi Network community as the launch date for the native token and open mainnet remains undisclosed. Previously, the team claimed that over 13 million individuals had completed Know-Your-Customer (KYC) processes, with more than six million transitioning to the mainnet.
After some time, I learned that the team behind this cryptocurrency network had established September 30, 2024, as the date by which all users must complete their Know Your Customer (KYC) verification process.
“Be sure to avoid missing the deadline for submitting your KYC or moving your Pi. Reach out to your Security Circle or Referral Team for assistance before the Grace Period expires!”
Last month, PiBridge (a decentralized financial platform that acts as a bridge between the Pi Network and other blockchain networks) hosted a talk show, with the launch of mainnet being one of the main subjects of discussion.
A couple of days on, the Pi Core Team shared that they would reveal the timeline for the mainnet roadmap (which includes the launch of official Pi trading) by December.
Mainnet Opening Update
The Pi Core Team has disclosed plans to unveil their Mainnet roadmap in December, which outlines the path towards enabling official Pi trading for purchasing and selling.
SHARE OR RETWEET THIS! #PiNetwork
— Pi Network News (@PiNetworkLap) September 5, 2024
The Specifics of Pi Network
The crypto project strives for energy efficiency through the adoption of the Stellar Consensus Protocol (SCP). This mechanism, created by the Stellar Development Foundation, serves as an alternative to Proof-of-Work (PoW), known for its significant power consumption.
The network thrives on active community participation, with expansion primarily fueled by a system that encourages referrals. Unlike many other networks, users don’t need to initially invest funds to start mining on this platform. Instead, they can accumulate Pi tokens merely by engaging within the ecosystem and establishing trust relationships.
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2024-09-06 09:38