4 min read · May 1, 2024
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The cryptocurrency world has taken a huge interest in Pi Network. Pi Network has gained a significant amount of popularity thanks to its innovative method of mining straight from a phone and its potential to be a respectable payment enterprise.
Pi Network Launch Date and Price[/caption]
There are currently 55 million active community members, surpassing the population of many countries. This number includes 3.3 million Twitter followers and 10 million KYC’d “Pioneers.”
If Twitter numbers were the only factor considered, the Pi Core Team account and the Ethereum Foundation account are tied for first place.
But Pi is more than that; after it launches fully, it wants to function as a payment system.
However, many people are curious about the Pi Network launch date and when the ecosystem would transition from a closed, beta ecosystem to a public network that is compatible with other blockchains and exchanges.
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Only a few significant milestones remain for the army of “Pioneers” around the globe, and 2024 seems to be their year. “The Countdown to Pi Open Network 2024” is what the team is calling it:
Some news sites have speculated that the Pi will launch on June 28, although this appears to be untrue information based on the same anticipated date in 2022.
The company has merely stated that the mainnet launch would be place in 2024 on their official Pi Network account.
On a page cleverly titled “mainnet2024,” the team also proposed a few objectives they hope to accomplish before opening Open Mainnet, such as:
- 15 million Pioneers passing Know Your Customer (KYC) checks
- 10 million Pioneers migrating to beta mainnet.
- 100 mainnet-ready apps.
If achieving those objectives is what determines when Mainnet will launch, then the wait might not be too long.
A total of 10 million “Pioneers” have completed (KYC) checks, up 1.45 million from December 2023 to March 2024. Approximately 50 apps, ranging from chat rooms to discussion boards to web browsers, are believed to be mainnet-ready.
In the meantime, user migrations to the mainnet have increased to 4.6 million from three million in December.
A blockchain project called Pi Network seeks to democratize mining by making it available to anyone with a desktop computer or a mobile device. Pi Coin, the project’s native cryptocurrency, is anticipated to be used for regular transactions by the team.
Users can use their smartphones to mine Pi currencies. To demonstrate their active engagement in the network, all they have to do is click on a button within the Pi Network app once every 24 hours.
Must Read: Pi Network Price forecast
Notably, mining Pi currency does not require energy-intensive technology, in contrast to mining established digital currencies like Bitcoin (BTC) and other proof-of-work (PoW) cryptocurrencies. This explains why a large network of miners has been drawn to the token with remarkable success.
Pi users will be able to swap their Pi tokens for fiat money and other cryptocurrencies during the Open Mainnet stage. Additionally, it gives programmers the freedom to experiment, building services and apps on top of the stable network architecture.
The Pi Network team is being cautious despite the excitement around this announcement. They asserted that the community’s accomplishments to date could be jeopardized by a rapid change.
They have therefore established three requirements that need to be fulfilled in order to guarantee the launch date of the Pi coin. Prior to the transfer, the following three conditions must be satisfied:
Thorough Preparations: The group emphasized the necessity of finishing all essential commercial, legal, product, and technology preparations. Although most of the technical roadmap has been completed, work is still being done to improve network stability, scalability, and security.
Decentralized Transitional Points: Acquiring 15 million KYC-verified users and moving over 10 million Pioneers to the Mainnet blockchain constitute a primary objective. In addition, Pi’s viability as a currency depends on the creation of at least 100 excellent, varied utilities and applications.
Ideal external circ*mstances: Since Pi is a worldwide cryptocurrency project, its success is entwined with the larger global scene. Thus, according to the team, the time of the Pi mainnet debut is heavily dependent on elements like geopolitical stability, legislative advancements, industry trends, and the lack of major world crises.
Reaching 3.3 million followers is just another accomplishment for Pi Network’s X account. The accomplishment confirms Pi Network’s standing as one of the blockchain space’s most rapidly expanding projects with a sizable community.
Pi Network declared on February 9 that they had achieved the 3 million follower mark on X. As of this writing, 300,000 more users have joined the initiative.
Notably, Pi Network has surpassed other well-known cryptocurrencies with less than 2.5 million followers on X, such as Solana, Cardano, Avalanche, and Tron.
Pi Network’s X account is gaining more followers, which is indicative of the growing interest in and support for the project. And one of the most important assets that each cryptocurrency project needs is the community.
Pioneers will have an exciting year ahead of them.
