Pi Network has recently grabbed attention with numerous updates, especially as it moves closer to launching the much-anticipated Pi token. The latest announcement centers around PiFest, an event set to start on October 29, aimed at promoting the practical use of Pi for local transactions. This event invites merchants to register their stores on a “Map of Pi,” making it easier for shoppers to discover Pi-accepting businesses through the PiOS application built by Pioneers.
In an official statement, Pi Network explained, “Participate to boost the real-life utility of Pi, and empower local businesses to integrate Pi into their operations. Go to the Pi home screen and read the PiFest guidelines to learn more about how merchants and Pioneers can participate.”
This marks the second PiFest event, following its successful debut last year from December 6 to December 11, when it served a similar promotional purpose. While the announcement has sparked excitement among those eager to see Pi gain real-world usage, reactions are mixed. Some see PiFest as a step toward network growth, bringing more people into the ecosystem. Others, however, are focused on the main question: when will the Pi token officially launch?
Highlights of Pi Network’s Latest Progress
Pi Network has made waves by offering a cryptocurrency that users can mine directly on their smartphones, a model that has attracted millions worldwide. However, the project has yet to launch its open mainnet, and the community has been waiting for key steps leading to that milestone. One of these steps is the completion of Know-Your-Customer (KYC) verifications, essential to ensuring the integrity of the Pi Network. Earlier this year, Pi Network reported that over 13 million users had completed KYC, but more are still in progress.
The team initially set a KYC completion deadline for the end of September, later extending it to November 30 due to an increase in KYC requests. Pi Network has also encouraged users to support the process by becoming KYC validators, offering Pi tokens as rewards for accurate validation work.
Additionally, on October 19, the Pi Network team introduced Pi Node Version 0.5.0, an important update that prepares nodes for the mainnet blockchain transition. This upgrade represents a critical step toward achieving a fully functional decentralized network.
As Pi Network prepares to host PiFest, the project is making strides toward expanding its reach and enhancing its real-world functionality. The event aims to pave the way for everyday transactions within the Pi ecosystem, bringing new opportunities for merchants and users in the digital economy.
Read More: Pi Network Releases Node Version 0.5.0, Preparing for Mainnet Blockchain
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