Latest Pi Network Updates September 6th

TL;DR

Pi Network has celebrated 2,000 days since its launch, but is still 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 algorithm of consensus energy efficient and grows mainly through community participation.

what’s new

Pi Network, a controversial crypto project that aims to allow users to mine and earn digital assets on their mobile devices, has seen some progress lately. Earlier this week, the team celebrated 2,000 days since the official launch in March 2019.

“This milestone reflects the ongoing and ongoing efforts of our community as we move ever closer to our vision of building the world’s most inclusive peer-to-peer ecosystem and online experience, powered by Pi “Every step forward leads us to the Open Network, where persistence and commitment shape our shared future,” he said at the time.

However, Pi Network continues to raise some eyebrows throughout the community, as there is no clear indication of when users can expect the release of a native token and an open mainnet. The team previously said that more than 13 million people have already passed Know Your Customer (KYC) procedures, while more than six million have migrated to the mainnet.

Soon after, the network’s developers set September 30, 2024 as the deadline for users to complete KYC verification:

“Make sure you don’t miss your deadlines to submit KYC or migrate your Pi. Ask your security circle and referral team to take action before the grace period ends!

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 the mainnet as one of the main topics of discussion.

A few days later, the Pi Core Team said that the open roadmap on the mainnet (“enables the official transaction of buying and selling Pi”) will be announced in December.

Mainnet Opening Update

1. Pi Core Team has revealed that in December, it will announce the Open Mainnet Roadmap (allows official Pi buy and sell transactions).

SHARE OR RETWEET THIS! ♻️#PiNetwork pic.twitter.com/vatNfzg3Qk

— Pi Network News (@PiNetworkLap) September 5, 2024

The particularities of the Pi network

The crypto project aims to be energy efficient by using a consensus algorithm called the Stellar Consensus Protocol (SCP). The mechanism is developed by the Stellar Development Foundation and is an alternative to Proof-of-Work (PoW), which is associated with high electricity consumption.

The network relies heavily on community participation and growth is driven by a referral-based system. Pi Network does not require users to invest any funds upfront to start mining. They can earn Pi tokens simply by participating in the ecosystem and creating trusted connections.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!