Pi Network (PI) News Roundup November 7

TL;DR

Pi Network extended the KYC deadline until November 30, urging users to join as validators and earn Pi tokens. The latest Pi Node update brings nodes closer to the mainnet, with a roadmap reveal planned for December 2024. The latest updates

Pi Network, a cryptographic project that aims to allow users to mine digital assets directly from their smartphones, has been around since 2019. However, it remains quite controversial due to the minimal technical information about its operations and the fact that its native token and The open mainnet has not yet seen the light of day.

Earlier this year, the team behind the project hinted that these milestones could be close, claiming that more than 13 million people have already passed the necessary KYC procedures. The developers initially advised people to complete the verifications by the end of September, then extended the deadline to November 30.

“There is one month left to secure your Pi reminder: complete the first grace period deadline by submitting your KYC application by November 30, 2024,” the team recently warned.

The team also announced an increase in KYC requests and encouraged users to join as validators. Participants who contributed accurately were promised Pi tokens as a reward for their efforts.

Last month, Pi Network released version 0.5.0 of Pi Node, a development described as “a major update that prepares nodes for the main network blockchain.”

“This update transitions nodes to the Testnet2 blockchain, simulating the Mainnet environment and testing the switch between the Testnet and Mainnet blockchains. The original Testnet will remain active for now, but will soon be shut down to use the Node. Original Testnet will continue to operate as normal for Pioneers and Pi app developers,” the release says.

More clarity next month?

At the end of August, PiBridge, a decentralized funding platform that connects the Pi Network with other blockchains, held a talk. While many were expecting details on the mainnet launch, the group did not provide any new information.

Soon after, however, the Pi Core Team announced that it would reveal the mainnet’s open roadmap, which would allow official Pi token transactions, in December 2024.

This announcement drew mixed reactions in the community, with some applauding the potential development while others interpreted it as yet another delay.

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