Pi Network, a mobile cryptocurrency mining platform, has been generating buzz since its launch in 2019. Despite its growing user base, the project remains shrouded in uncertainty due to the lack of a clear timeline for the launch of its native token and open mainnet.
Recent Developments and KYC Verification
The Pi Network team has made several announcements in recent months, indicating progress towards the mainnet launch. In August, they revealed that over 13 million people had completed Know-Your-Customer (KYC) procedures, a crucial step for accessing the mainnet. While the initial deadline for KYC verification was extended to November 30, there has been a surge in requests lately, prompting the team to encourage more users to become validators.
Pi Node Update and Mainnet Migration
On October 19, the Pi Network team released Pi Node Version 0.5.0, a significant update that prepares nodes for the mainnet blockchain. This update transitions nodes to the Testnet2 blockchain, simulating the mainnet environment and testing the switch between Testnet and Mainnet blockchains.
While over 6.5 million people have successfully migrated to the mainnet, according to The Times of PiNetwork, a complete migration before the end of the year seems unlikely.
The platform states that a continuous and accelerated migration process would be necessary to achieve this goal.
Anticipation for Mainnet Launch
Pi Network users are eagerly awaiting December, when the Pi Core Team is expected to provide more details about the mainnet open roadmap. This roadmap will outline the specific steps and timeline for the launch of the native token and the opening of the mainnet for trading.
While Pi Network has made progress in recent months, the launch of its mainnet and native token remains uncertain. The team’s focus on KYC verification and node updates suggests that they are working towards this goal, but the challenges of migrating millions of users and ensuring a smooth transition to the mainnet cannot be underestimated. As the year progresses, Pi Network users will be closely watching for further updates and announcements regarding the highly anticipated mainnet launch.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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