4 months ago
Pi Network, a blockchain-based level enabling users to excavation PI coins, has acceptable Feb. 20 arsenic the motorboat day for its Open Network mainnet, according to a property connection obtained by CryptoSlate.
This long-awaited modulation follows respective delays, with the task present claiming important progress, including millions of KYC-verified users and a increasing utility-driven ecosystem.
Open Network
Since December 2021, Pi Network has been operating successful an Enclosed Network phase, limiting outer interactions.
The upcoming Open Network signifier volition alteration this by allowing its blockchain to link with outer networks. This displacement volition alteration users, known arsenic Pioneers, to transact beyond the Pi ecosystem, expanding real-world usage cases.
Pi Network’s ecosystem includes utility-based applications, a societal web for crypto users, and a blockchain designed for seamless transactions. Once the firewall is lifted, anyone tin run a node connected the mainnet blockchain.
However, Pi’s Core Team volition prioritize experienced users by inviting them to migrate their nodes from the testnet to the mainnet. This process volition beryllium managed done the desktop node UI, with penchant fixed to those with high-reliability scores and accordant contributions. Additionally, node rankings volition beryllium made publically available.
Nicolas Kokkalis, Pi Network’s Head of Technology and co-founder, highlighted the platform’s accessibility. He emphasized that Pi allows users to excavation crypto for escaped connected mobile phones, bringing crypto to millions worldwide.
According to Kokkalis, the blockchain besides supports individuality verification for individuals and businesses, a diagnostic uncommon among Layer-1 networks. This capableness enables seamless interactions betwixt third-party applications, verified users, and businesses
Controversies way Pi
Despite its ambitious plans, Pi Network remains a divisive taxable successful the crypto space.
Some critics reason that its exemplary resembles a multi-level selling strategy alternatively than a morganatic blockchain project. This skepticism has led to reluctance among large exchanges to database the token.
Bybit CEO Ben Zhou precocious dismissed calls for Pi Network’s token to beryllium listed connected his exchange. In a Feb. 12 station connected X, helium explained that his past experiences successful forex trading influenced his determination to enactment distant from the project.
Crypto writer Wu Blockchain has besides pointed out that definite exchanges person distanced themselves from the project. According to him, Bitget has softly removed promotional contented related to Pi, perchance owed to lingering controversies.
Despite this, OKX has announced plans to support the Pi token. The speech volition let deposits starting Feb. 12, with spot trading acceptable to statesman connected Feb. 20. Withdrawals volition beryllium disposable from Feb. 21, 2025.
The station Pi Network prepares to unfastened to outer networks amid listing challenges appeared archetypal connected CryptoSlate.
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