Mainnet (2024)

Mainnet is a term used to describe a working, fully-operational blockchain.

A mainnet network has been fully deployed and is in production, like the Bitcoin and Ethereum blockchains.

In a mainnet, cryptocurrency transactions are verified and recorded to the blockchain.

In contrast to mainnets, testnets aren’t ready for production or live use.

See Testnet for more info.

Related Terms

  • A blockchain that isn’t fully operational and deployed to a production environment. Testnets are great for troubleshooting bugs, testing all features of the blockchain, and confirming that the system is secure before launching to mainnet. Testnets aren’t monetized, so no funds are at risk and no fees are paid.

  • Ethereum is a decentralized blockchain platform that makes digital money, global payments, and applications possible using open-source software and smart contract functionality. The big difference between the two is that Ethereum is programmable, meaning you can build and use decentralized apps on the network. That means the Ethereum blockchain can be programmed to do virtually anything.

  • Bitcoin (BTC) is most well known as a digital decentralized cryptocurrency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries, such as payment gateways or banks or routing services. Think of bitcoin as Internet money, that you can send and receive directly, to and from anyone, and you can use it to pay for stuff.

  • Cardano is a decentralized open-source blockchain platform built with proof-of-stake (PoS)consensus, offering smart contract capabilities, and using the native cryptocurrency ADA.

  • Blockchain networks are at the heart of cryptocurrencies. A blockchain is a database, or digital ledger, made up of a series of interconnected blocks containing transaction data created on the network over some period of time. Each block in a blockchain also contains a unique identifier unlike any other block in the chain called a hash. Think of the hash as a fingerprint identifying that block for all other blocks. Distributed ledger technology (DLT) is another name frequently used in relation to blockchains.

Mainnet (2024)

FAQs

How much will Pi be worth when it goes to Mainnet? ›

The project launched its pre-Mainnet in 2019. It is currently in its closed-Mainnet, meaning it cannot interact with other blockchains. Our Pi coin forecast estimates a price of $0.4 by the end of 2024. Our 2030 Pi coin price prediction estimates a price of $1.05.

How long does it take to migrate to PI Mainnet? ›

If you have completed your mainnet checklist, and you are in the queue to be migrated, you simply need to wait for the core team to process your migration. Once your migration is completed, your 14 day waiting period will start counting.

Is mainnet real money? ›

Transactions on Mainnet

These transactions are real, meaning they have actual value and are permanently recorded on the blockchain. This is why transactions on the mainnet must be performed with caution – once a transaction is confirmed, it cannot be reversed.

How much is 1 pi worth? ›

31.29 USD

What is a 24 word passphrase in pi? ›

Your 24-word recovery phrase (sometimes also called a mnemonic phrase, Secret Recover Phrase or seed phrase) is the master key to all your crypto accounts. Anyone gaining access to your recovery phrase can very easily clone your accounts on their own device (or software wallet) and spend your funds.

Will Pi reach $1000 dollars? ›

According to our Pi Network prediction algorithm, Pi Network will hit $1,000 in November 2044.

Will Pi ever gain value? ›

Pi coin value will be near 68$ in 2024, and it will fluctuate, but it will eventually gain more value. In 2026, it could be close to $405. This is also determined by the market. The Pi coin is expected to be worth $2 in 2023, and the Pi network is expected to be worth $11 or $14 by the end of 2023.

Will pi coin ever be listed? ›

The Pi Network is in the transition stage from Testnet to Mainnet. The Pi Network is planning to move into the Open Network phase of Mainnet in 2024, but a specific transition date has not been set yet. The Pi coin will become available for public sale when the transition is completed.

Can I sell my PI on mainnet? ›

The reason behind it is stated to be this - the mainnet is currently “enclosed”. What that essentially means is that you're able to participate in certain Pi Network activities, and contribute to its development, but are not able to “exit the enclosed ecosystem” - e.g. buy Pi crypto, or check how to sell Pi crypto.

Why is my pi not migrating to mainnet? ›

Only people who passed the Pi KYC can migrate to the Pi Mainnet. The current Enclosed Mainnet period gives the community time to KYC and migrate to the Mainnet blockchain—a identity-verified, compliant and utilities-driven ecosystem where Pioneers can begin to use Pi for real goods and services.

How close is pi to mainnet? ›

Pi Network's mainnet launch is expected by the end of 2024, at least via core team hints, but no official date has been confirmed.

What happens after mainnet? ›

Once the mainnet swap is completed, the old coins are normally destroyed. This is to ensure that only the new coins will be used. Permissionless market creation refers to a system in which anyone can set up a financial market that facili...

How much is the mainnet pi coin worth? ›

The price of Pi Network (PI) is $32.27 today with a 24-hour trading volume of $610,651. This represents a -0.34% price decline in the last 24 hours and a 0.39% price increase in the past 7 days.

How do I complete KYC on pi network? ›

Steps to Complete the KYC Verification Process
  1. Step 1: Install the Pi Browser App. ...
  2. Step 2: Access the Mainnet Section. ...
  3. Step 3: Complete Mainnet Checklist Tasks. ...
  4. Step 4: Start the KYC Application. ...
  5. Step 5: Select Your Country. ...
  6. Step 6: Choose Your ID Document. ...
  7. Step 7: Follow ID Instructions. ...
  8. Step 8: Capture ID Photos.
Jul 4, 2024

What are the requirements for pi mainnet? ›

To achieve this goal, the Pi Network Core Team has released specific requirements that must be met before launching Open Mainnet. The numerical requirements are clear-cut: 15 million KYC verified users, 10 million users migrated to Mainnet, and 100 'mainnet or mainnet-ready' apps.

How to use pi in mainnet? ›

Pi Network is building a peer-to-peer ecosystem including marketplaces where our members will be able to directly spend Pi to buy goods and services. Once Pioneers are able to pass KYC verification and migrate their mobile Pi balance to Mainnet, this option will be available.

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