TAKING OVER THE WORLD

 

WHY PI NETWORK IS POSITIONED TO BE THE FUTURE OF A GLOBAL DIGITAL ECONOMY

Since the announcement of the Mainnet launch of the Pi Network on 28^th December, 2019, a lot has happened on the network. Though not very visible to the eyes of the average pioneer, huge progress has been made and we have gone the extra mile for you to bring behind the scene info to your notice.

We tell you what has happened since December last year, what is happening, and what would happen. We would only add a couple of notes on the first three points for each category. You could request for a more detailed response on the other points by mail or Whatsapp.

COMPLETED PROJECTS AND ACHIEVEMENTS

1. Mainnet launch

The mainnet launch of the network was announced on the 28^th December 2021. The Pi blockchain went live and has been in operation since then. The mainnet is presently operating in what is known as the enclosed mainnet, meaning that only intra-network operations will be allowed on the blockchain. In other words, only pioneers can access the blockchain by interacting with each other and with Pi supported apps and merchants.

2. Chinese version of KYC completed

With a very large number of pioneers coming from china, the  Core Team have developed KYC for pioneers in China, and the reports so far have been hugely successful. With over 3 million pioneers and over 15,000 nodes, this move certainly makes sense and the world is more ready for better trades with the Chinese market thanks to this strategic step.

3. New mining formula

The previous mining formula has been wiped off, as there is now a new base mining rate which reduces monthly and there are new ways to boost total mining rate, such as lockup boost and utility usage bonus.

4. 35 active million pioneers registered

5. API and SDK functions perfected

6. Migration of ecological apps has been preliminarily completed

7. Social media accounts fully integrated and verified

8. Node/point program completed

ON-GOING PROJECTS

1. Mass KYC

More people around the world are getting invited to do their KYC, get their accounts fully verified, and on successful validation, become validators themselves. Although this has been at a slow rate so far for various reasons, reports suggest that the truly open mass KYC is closer to being announced already.

2. Continuous development and testing of node program

Nodes are people who run special software on their computers to support the running of the Pi blockchain. For a very long time, thousands of people served as nodes on the network for free*, spending a lot of time and resources keeping the blockchain up and running. As they are now positioned to receive their reward, the node app is being upgraded to enable seamless synchronisation for the nodes to be properly compensated for all their work.

3. Ecological apps migration

Ecological apps are basic apps required by the Pi blockchain for its efficient operation and creation of utility. They include the Chat app, and the Wallet, among others. Work is on-going to transition them from Testnet to the Mainnet.

4. Cross chain testing

5. Use of Dapps and open source applications

6. Ecological apps development and application

7. Wallet maintenance and optimisation

FUTURE PROJECTS

1. Open Mainnet

The Pi network will finally go fully public, allowing it to interface with other blockchains, allowing it to be listed on exchanges etc. This is when it might be fully regarded as a true cryptocurrency by a lot of people, surely not us though.

2. Listing on exchanges

Exchanges such as Coinbase, Kraken, and even Binance might decide to list Pi on their markets in exchange for other cryptocurrency or for fiat currency when the blockchain goes public.

3. Wallet supports other currencies

The Pi wallet, currently found in the Pi browser, would have the tendency to allow other currencies run in its space, allowing for easy exchange or conversion to other currencies, not like anyone would want to do away with their Pi though.

4. Kyc for new pioneers

5. Ecological apps docking

6. Source code goes public

7. Dapps are fully launched

8. Web 3.0 apps are integrated

9. Interconnections of multiple chains, cross-chain transactions

So, there you have it. You’ve not been mining for nothing, and if you’ve not been mining yet, you’ve been gaining nothing! Change that now, get started already! Pi is huge, it’s growing by the day and real soon, you’ll be glad you stayed.

* Bonuses have been computed and will be factored into their subsequent mining rates

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