Pi Network has recently announced significant progress in its journey toward the Open Network phase. As of June 28, 2024, over 12 million users have completed the Know Your Customer (KYC) verification process, marking a substantial increase from the 9.45 million reported in March. Additionally, 5.79 million users have successfully migrated to the Mainnet, up from 4.5 million in the same period. These milestones reflect the community active participation and the project commitment to advancing its ecosystem.
In preparation for the Open Network launch, Pi Network has been actively seeking partnerships with cryptocurrency service providers and various businesses. This initiative aims to integrate diverse services and applications into the Pi ecosystem, enhancing its utility and reach. The team emphasizes that this represents a unique opportunity for businesses to engage with over 60 million active Pioneers and become part of Pi rapidly expanding Web3 ecosystem.http://YourWebsite.com/pi-network-overview
Despite these advancements, the project has faced challenges regarding its timeline for the Open Network launch. The KYC verification deadline has been extended multiple times, with the latest extension pushing it to November 30, 2024. Similarly, the final deadline for users to migrate to the Mainnet has been moved to December 31, 2024. These delays have elicited mixed reactions within the community, with some expressing frustration and skepticism about the project progress.
On the technical front, Pi Network has released Pi Node Version 0.5.0, a significant update that prepares nodes for the Mainnet. This update transitions Pi nodes to the Testnet2 blockchain, simulating the Mainnet environment and enabling the network to test the switch between the Testnet and Mainnet. The original Testnet will remain operational for developers and Pi app users but will soon close for node operations as part of this transition.
Looking ahead, the Pi Core Team has announced plans to release the Mainnet open roadmap by December 2024. This roadmap is expected to outline the plans for the official Pi token transactions and broader Mainnet development, offering more clarity about when the Pi Network will become fully functional as a blockchain platform. The community eagerly anticipates this disclosure, hoping it will provide concrete timelines and alleviate concerns regarding the project future.https://cryptonews.host/today-crypto-news-bitcoin-surge-sec-policy-shifts-coinbase-lawsuit-updates/
In summary, Pi Network has made notable progress in user verification, Mainnet migration, and technical development. However, the repeated extensions of key deadlines have led to mixed reactions within the community. The forthcoming release of the Mainnet open roadmap is anticipated to provide further insights into the project trajectory and address ongoing concerns among its user base.
