The Pi Network Explained: Potential and Challenges of the Stanford-Backed Project

仮想通貨市場で注目される「Piネットワーク」は、その革新的なモバイルマイニング技術とスタンフォード大学との提携で話題です。本記事では、このプロジェクトの技術的特徴、現在直面している課題、そして未来の可能性について詳しく解説します。

Stanford University Partnership: Proof of Reliability

Pi Network is officially registered in the affiliate program of the Computer Science Department at Stanford University. This partnership indicates that the project is not merely a community-driven endeavor but is backed by an academic foundation.

The founders, Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, are experts in decentralized applications and computational anthropology, respectively, and the knowledge cultivated at Stanford is being utilized in this project.

Page where Pi is listed on Stanford University’s website
https://www.cs.stanford.edu/get-involved/affiliate-programs/our-members

 

Innovative Mobile Mining Technology

Pi Network adopts the Stellar Consensus Protocol (SCP), enabling energy-efficient mining. This algorithm is based on “Security Circles,” where transactions are validated through trust relationships among users.

Furthermore, AI technology is integrated into network operations, optimizing transaction processing speed and system efficiency. This design allows for cryptocurrency mining without the need for expensive hardware or large amounts of electricity.

Optimization by AI

AI contributes not only to mining efficiency but also to overall network performance improvement. For example, it is utilized in various areas such as fraud detection and automated transaction processing.

Current Challenges

  • KYC Process: The KYC (Know Your Customer) process is ongoing, but many users have not completed it, which is a bottleneck for the mainnet migration.
  • Regulatory Compliance: Pi Network is required to comply with regulations in each country, such as AML (Anti-Money Laundering) and CFT (Combating the Financing of Terrorism).
  • Transparency: Lack of information regarding project progress and user statistics has been criticized. There is a significant discrepancy, especially between the number of users and actual activity levels.
  • Mainnet Delay: The migration to Open Mainnet has been repeatedly delayed, leading to dissatisfaction from many users.

Future Outlook: Building a Web3 Ecosystem

Pi Network aims to evolve not just as a cryptocurrency but as a Web3 ecosystem. Over 80 dApps are currently under development, and partnerships with retailers and service providers are also progressing.

Furthermore, platforms like “Pi Mall” and “WorkforcePool” allow for purchasing goods and using services with Pi coins, gradually expanding its practicality.

Expectations After Mainnet Migration

  • dApps Hosting: A wide range of applications are expected, from financial tools to entertainment.
  • P2P Trading: Direct trading through decentralized exchanges is planned.
  • Smart Contracts: Creation of new use cases through automated contract management is anticipated.

Summary

Pi Network is attracting attention in the cryptocurrency market due to its innovative technology and large community. However, it also faces many challenges, such as regulatory compliance and ensuring transparency. Its true value will be tested with the upcoming mainnet launch and ecosystem expansion.

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