Pi Network is showing significant progress. This article introduces the latest update, the introduction of Testnet 2, and the preparation status for the open network.
1. Current Status of Pi Network
1.1 Closed Mainnet Phase
Pi Network is currently in the closed mainnet phase. In this phase, users who meet specific conditions can now perform actual transactions and trades.
1.2 KYC Requirements and Coin Migration
To perform transactions, the following conditions must be met:
- Passed the KYC (Know Your Customer) process
- Owned Pi coins have been migrated to the mainnet wallet
2. Introduction of Testnet 2
2.1 Purpose of Testnet 2
Pi Network recently introduced Testnet 2. The main purposes of this new testnet are as follows:
- Preparation of nodes for the open network launch
- Achieving a smooth transition from testnet to mainnet
- Introduction and testing of new features
- Network strength verification
2.2 Distribution of Test Pi by GCOR
In Testnet 2, an entity called GCOR is distributing 100 Test Pi. This is used by third-party applications and business partners to test integration with the Pi Network.
3. Preparation for the Open Network
3.1 Selection of Partnerships
Pi Network is currently selecting partners for the open network launch, such as the following:
- Cryptocurrency services
- General businesses
- Financial institutions
- Other organizations
3.2 Node Preparation and Migration Process
Testnet 2 is designed to allow node operators to smoothly transition to the open network. This enables sufficient testing and preparation before migrating to the production environment.
4. Current Status of the Mainnet Matrix
4.1 Current Pi Migration Status
According to the Mainnet Matrix, the current status is as follows:
- Pi migrated to Mainnet: Approx. 410 million
- Locked Pi: Approx. 280 million
- Total: Approx. 690 million Pi
4.2 Conditions for Open Network Launch
To launch the Pi Network open network, 1 billion Pi migrated to Mainnet is required. This includes both locked and unlocked Pi.
5. Future Outlook
Considering the current migration status, approximately 310 million more Pi need to be migrated before the open network launch. Pi Network aims to launch the open network by the end of 2024, and the introduction of Testnet 2 is a significant step towards that goal.
As attention focuses on the development of Pi Network, it is important for all users to continue completing the KYC process and migrating their coins. Further progress is expected towards the launch of the open network.