The latest Pi network updates

TL;DR

Pi Network is moving towards mainnet rollout, with millions of users migrating, but the exact launch date is still unclear. Users must complete KYC by September 30, 2024, and more details are expected in an upcoming talk show. what’s new

Pi Network is a crypto project that aims to allow users to mine and earn digital assets on their mobile devices. It was introduced in 2019 and aims to be energy efficient by using a consensus algorithm called the Stellar Consensus Protocol (SCP). It was developed by the Stellar Development Foundation and is an alternative to Proof of Work (PoW), which is associated with high electricity consumption.

However, Pi Network remains one of the most controversial projects in the crypto space, as there is no clear indication of when users can expect the release of a native token and an open mainnet.

Last week, the team made a major statement on the matter, stating that more than 13 million people have already gone through Know Your Customer (KYC) procedures, while more than six million have migrated to the network main

“Through our collective efforts, we are making progress towards the goals of the open web. Note that progress is not linear and has been accelerating historically,” the announcement reads.

Soon after, the Pi Network team outlined September 30, 2024 as the deadline for users to complete KYC verification and transition to the main network.

“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,” the task force advised.

Is it coming this year?

Although Pi Network is moving towards its mainnet launch, the exact date is still unclear. Earlier this week, PiBridge (a decentralized financial platform that acts as a bridge between the Pi network and other blockchain networks) announced that there will be a talk on August 30, during which the topic will be discussed.

PiBridge will host the podcast, while speakers will include Victor Nguyen (CEO of PiBridge), Woody Lightyear (Founder of Pi Revolution), Wesley Rocha (Marketing Manager of Teltlk International) and Vindicated Chidi (a prominent figure in the Pi Network community ). who often participates in these community meetings).

The talk will take place on the PiBridge YouTube channel, as there will be a special distribution of tokens for eligible subscribers:

“Subscribe to the PiBridge YouTube channel and set a reminder to join this special talk show. Don’t forget to stay up to date with the latest announcements to receive a skydive with a total of up to 50,000 TPIB from our part”.

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