Will Pi launch its mainnet on 28/06/2024? This question has garnered significant attention from many Pioneers. Let’s analyze it together on Pi Network News.
Dear friends, Pi Network has undergone a journey that can’t be described as short yet not entirely long. It has built a closely-knit community, where numerous consensus exchanges using Pi Network occur daily worldwide.
Why didn’t Pi Network launch in previous years?
There were numerous challenges and events that prevented the Mainnet from launching in previous years. Here are the main factors:
Firstly, the issue of KYC (Know Your Customer), for an international-scale cryptocurrency project like Pi Network, KYC isn’t a task that can be completed in a day or two, especially considering the involvement of tens of millions of Pi owners in the Pi Network. Moving to the Pi Network mainnet requires successful KYC verification. In the past five years, less than 50% of the total 50 million users have completed KYC. However, the pace of KYC verification is increasing.
Secondly, the infrastructure and investor conditions weren’t fully prepared. This is crucial; the Pi core team wants everything to be in place before launching the mainnet to propel Pi to greater heights.
Thirdly, the Pi core team aims for the community to engage in consensus-based exchanges of goods with Pi to create value. As you know, Pi coin was created to facilitate cross-border exchange of goods among countries worldwide and to be the global digital currency. Therefore, enabling the Pi oneer community to collectively agree on the value of Pi coin is crucial. This forms the initial value of the Pi Network. Numerous goods and services worth 314,159$ have been exchanged on various territories and countries worldwide.
Pi shopping open can 314159 USD?
Fourthly, the Pi core team wants to build a strong community and provide opportunities for newcomers to learn about Pi Network.
In summary, these are the main reasons why the Pi core team didn’t launch the mainnet in previous years. Of course, there are many other reasons.
Will Pi Network launch its mainnet on 28/06/2024?
This is a question that many are curious about. The core team always desires to launch the mainnet as soon as possible. I recall earlier in the year, Dr. Nicolas Kokkalis hinted at the possibility of Pi being launched in 2024. Perhaps this is a positive sign for Pi pioneers.
The community eagerly anticipates and supports the Pi core team in completing KYC for participants in the Pi Network.
The pace of KYC depends on the Pi validators. You can join as a KYC validator on the Pi browser. According to recent information, the number of Pi tokens distributed to users has significantly increased, and many KYC users from 2022 to 2023 have received their balances after days of waiting.
The KYC process is also being expedited by the Pi core team. Many Pi pioneers who were stuck in KYC have been resolved. Perhaps this is a sign for us to hope for the mainnet to be launched sooner.
The possibility of Pi Network launching its mainnet on 28/06/2024 is only 10%, as per the announcement by the Pi core team on their official platforms such as Facebook and Twitter. Currently, there are 50 million active members mining Pi Network.
Alternatively, the Pi core team may launch the mainnet and then conduct KYC for Pi pioneers. However, this cannot happen because according to the Pi Network whitepaper, you must complete KYC before transitioning to the mainnet.
Based on the above analysis, the community hopes that Pi will launch its mainnet in 2024. Hopefully, by the end of this year.
That concludes our analysis on whether Pi Network will launch its mainnet on 28/06/2024. Thank you very much for reading this article. If you want to learn more, please visit the Pi Network News or Crypto News section.