Pi Network, a Web3 application ecosystem and development platform with a community of tens of millions of people mining and using the Pi cryptocurrency, today kicked off the Pi2Day festival with a update about progress towards Open Network.
In December, Pi announced plans to enter the Mainnet Open Network phase in 2024 if the community achieves a series of conditions including: 15 million KYC Pi users (Pioneers); 10 million people migrated to Mainnet; 100 Pi applications are actually on Mainnet or ready for Mainnet; Continue progress with technical and product updates by the core team; and finally, there is no adverse global external environment.
To date, more than 12 million Pioneers have completed identity verification through Pi’s native KYC solution, Pi KYC (up from 9.45 million in March), with 5.79 million having migrated to Mainnet ( up from 4.5 million in March). Additionally, 70 real and distinct Pi applications are either on Mainnet or Mainnet-ready and address a real need by providing further utility to the Pi ecosystem (up from 50 in March) .
“Our path to Open Network is based on the collective efforts of the global Pi community,” said Dr. Chengdiao Fan, Founder and Head of Product at Pi. “Together, the core team, community developers, and Pioneers everywhere are working to achieve Open Network by 2024, and we are happy to say that we are still on track thanks to the incredible contributions and innovation from the community.”
“Over the past few months, our team’s thorough testing, technical optimization, and numerous tweaks have enabled many updates in Mainnet migration, KYC, and other blockchain components like Pi Node,” Dr. shared Nicolas Kokkalis, another Founder and Technology Lead of Pi. “These updates lay the foundation for our continued work on upcoming initiatives such as the KYC grace period, second and subsequent migrations, Mainnet Node and blockchain work, and much more. , all of which enable the community to move beyond Pi to the Open Network in 2024.”
Since last year’s PiDay (March 14, 2023), Pi has grown from 45 million to over 60 million active global users and launched a series of major ecosystem updates including:
- Fireside Foruma Web3 social networking application with an innovative tokenomics mechanism for content creation, management and moderation.
- Staked DMs on Pi Chat applicationanother cryptocurrency integration to facilitate meaningful connections.
- Pi Ad Network, the first realization of the vision of platform utilities built on collective resources such as community scale and engagement, collective attention, and verified digital identity. The initial version was released in the Fireside Forum and the platform is currently integrated with community Pi applications.
In recent times, many people have said that they are waiting for milestones such as Pi Day on March 14 or Pi2Day on June 28 for the “mainnet to open”, but there have been no significant improvements except for reassuring announcements to users. Meanwhile, Nicolas Kokkalis, the man believed to be behind the Pi Network project, has not appeared in any media for more than three years.
At the end of June 2023, the Ministry of Public Security said it had coordinated with local police to investigate activities related to the virtual currency Pi. According to a representative of the Ministry, activities related to Pi in Vietnam show signs of soliciting money from one person to the next in a binary, multi-level business model, so people need to be cautious before behavior that entices participation in a virtual currency model with unusually high profits.
You can see the Pi price here.
Vuong Tien
According to Bitcoin Magazine
