The broader crypto community is eagerly anticipating the real-world implementation of the Pi Network. In recent weeks, this blockchain project has gained significant traction, drawing a large number of crypto enthusiasts. With the open mainnet launch scheduled for February 20, 2025, here are five crucial facts that investors should know about this emerging protocol.
Pi Network’s Core Mission
Unlike Bitcoin (BTC) and Ethereum (ETH), which operate on Proof-of-Work (PoW) and Proof-of-Stake (PoS) models, respectively, the Pi Network utilizes a unique mining process. It leverages a mobile-based, energy-efficient mining system built on the Stellar Consensus Protocol (SCP). Pi’s core mission is to democratize digital assets, making them accessible to users worldwide. Since its inception nearly a decade ago, this ideology has resonated with millions, fueling its growing adoption.
Mainnet Launch Finally Arrives
After years of operating within a closed testnet, the Pi Network is now ready to transition to an open mainnet. This highly anticipated launch, set for February 20, 2025, at 8 AM UTC, is expected to drive the integration of Pi Coin into the broader cryptocurrency market. Users will be able to trade Pi on select exchanges and use it for transactions within the Pi marketplace.
KYC Verification: A Mandatory Step
To participate in the open mainnet, users must complete the Know Your Customer (KYC) verification. Due to community demand, the deadline for this process has been extended to February 28, 2025. So far, over 10 million accounts have successfully migrated to the mainnet. Failure to complete KYC may result in restricted access, preventing users from making external transfers or engaging with the Pi Network’s ecosystem.
Pi Network’s success hinges on real-world adoption. The development team is actively expanding the ecosystem, with 20 mainnet apps already live, enabling users to spend Pi on goods and services. As more businesses integrate Pi, its demand and value are expected to strengthen, accelerating its path to mainstream adoption.
With the open mainnet launch imminent, Pi Network Coin is set to be listed on multiple exchanges. MEXC Exchange has already launched Pi for pre-market trading, while HTX, Gate.io, and Bitget have confirmed their listings for February 20. Binance’s ongoing community vote shows overwhelming support, with over 88% of participants favoring Pi Coin’s inclusion.
Also Read: PI Network Price Eyes $300 Rally Amid MEXC Listing & Binance Voting Update
As Pi Network takes a significant step forward, its open mainnet launch could mark the beginning of a new chapter in blockchain accessibility and utility.
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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