「crypto utility」タグアーカイブ

Renewed Attention on Pi Network’s Progress Amidst Its Massive User Base

As the cryptocurrency market enters a new phase, Pi Network, with its massive user base, is once again drawing attention. However, many may still find its true status unclear, a mix of optimistic voices and skeptical views. Now, stepping back from the market’s hype, is the project truly moving forward?

This article objectively analyzes Pi Network’s specific initiatives for ecosystem building, based on network data observed over a specific period and official announcements. We will explore the project’s current status and future potential, not just from a speculative angle, but from the perspective of “utility.”

**Important:** Pi Network’s Current Status: Understanding the “Enclosed Mainnet” Before “Open”

Crucial to understanding Pi Network’s current situation is that the network is presently in the “Enclosed Mainnet” phase. We will first explain what this means and why this phase is necessary.

The Enclosed Mainnet refers to a state where Pi’s blockchain itself is operational, but it is intentionally not connected to external exchanges or other blockchains. It functions as a preparatory period before the official open launch. The main objectives of this phase are summarized in these three points:

* **Large-scale Know Your Customer (KYC) implementation:** To maintain the network’s legitimacy and enforce the one-account-per-person principle.
* **Ecosystem fostering:** Providing a secure environment for developers to build and test applications on Pi.
* **Utility testing:** Verifying whether Pi can function as a currency in an environment isolated from external market noise.

Therefore, it is crucial to understand that the data and activities presented in this article represent progress within this “closed network,” and are significant steps towards the future “Open Mainnet” (a state where external connections are possible).

Network Growth Through Data: Key Indicators from a Specific Period

Network activity data is crucial as an objective indicator of project health. Here, we will examine user numbers and asset movements during a specific disclosed period (reported as the first 100 days after the mainnet transition).

The growth during this period suggests that the project is maintaining community interest and continues to expand.

| Metric | Value | Significance |
|—|—|—|
| New Mainnet Participants | Over 3 million | Increase in active users who completed KYC and migrated to the Mainnet. |
| Total Mainnet Users | Over 13 million | Indicates a steady expansion of the network’s scale. |
| Total Pi Migrated to Mainnet | Over 7.4 billion Pi | Users’ mined assets are actually recorded on the blockchain. |
| Amount of Pi Locked Up | 5.2 billion Pi | A large portion of the total migrated amount is locked up, suggesting many users are involved with a long-term perspective on the project. |

Catalyst for Ecosystem Expansion: Establishment of “Pi Network Ventures”

To enhance the network’s value from within, a large-scale investment arm has been established. We will explain the purpose of “Pi Network Ventures” and the future it envisions.

Pi Network Ventures is a $100 million venture fund (denominated in Pi and USD) established by the Pi Foundation. Its primary objective is to strategically invest in startups and projects that enhance Pi’s utility and promote its real-world adoption. This demonstrates a strong commitment to not just distributing coins, but also fostering their practical use within the ecosystem itself.

As the initial area of focus, “gaming” is highlighted due to its immense market size and strong affinity with digital payments. The aim is believed to be expanding Pi’s economic sphere through experiments with in-game payments and advertising revenue models.

A Touchstone for Utility: “Pifest” Demonstrates Pi Payment Potential

For cryptocurrencies to be more than just digital data, it is essential for them to be “usable” in the real world. “Pifest,” a large-scale commercial event held in 2024, served as a crucial test case to explore this potential.

Remarkably, over 125,000 sellers from around the world registered to participate in this event, with approximately 58,000 stores and individuals actually accepting Pi as payment for goods and services. The community-developed store locator app, “Map of Pi,” attracted over 1.8 million users during this period, and active transactions were reported.

This initiative provided valuable empirical data on whether Pi could function as a daily payment method within a specific community. It demonstrates the project’s commitment to proving its value not just theoretically, but through practical application.

Will it Become the Foundation of Digital Identity? The Evolution of “Pi Domains”

In the world of Web3, the value of human-readable names (digital identities) that replace long, complex wallet addresses is growing. Pi Network’s answer to this is “.pi domains.”

During the domain auction launched concurrently with Pifest, over 57,000 users participated, and a total of over 123,000 bids were placed. These domains are more than just aesthetically pleasing names. They are expected to function as unified digital IDs usable across various apps and services within the Pi ecosystem in the future. This is a crucial step towards dramatically improving user experience and deepening the overall ecosystem’s integration.

Strengthening Technical Infrastructure to Support Mass Adoption

A robust technical foundation is indispensable for an ecosystem that millions of users can comfortably and securely utilize. Here, we will overview key improvements being made behind the scenes.

* **Improved Developer Experience:** Enhancements to the developer portal for quicker app publishing and support for monetization through the Pi Ads Network are underway. This is a crucial measure to attract diverse applications to the ecosystem.
* **Enhanced Security and Convenience:** To protect user assets, two-factor authentication has been introduced for wallet migration, and account recovery features have been strengthened. Furthermore, the KYC process continues to be improved, including support for external identity verification services like “Yoti,” to allow users in more regions to complete verification smoothly.

Conclusion: What the Data Reveals About Pi Network’s Current Position and Future Outlook

Integrating the individual data points we’ve examined so far, what overall picture of Pi Network emerges? Let’s consider the project’s next phase.

The data analyzed suggests that Pi Network is not swayed by short-term market price fluctuations, but is steadily progressing towards its long-term vision of building a practical digital economy. The multifaceted approach – consistent user growth, funding and tools for developer support, real-world payment testing, and strengthening the underlying infrastructure – can be interpreted as calculated groundwork for the future Open Mainnet transition.

Of course, the project’s success is not guaranteed. However, these facts indicate that Pi Network is at least attempting to evolve from being “just a coin you can mine on your phone” into a platform with its own economic sphere. The future value of the project will depend on how many attractive and practical applications and services emerge and integrate into society upon this foundation.

Summary and Next Steps

Finally, let’s summarize the key points of this article.

* Pi Network is currently in the “Enclosed Mainnet” phase, disconnected from external networks, and focused on ecosystem building.
* Data on user numbers, asset migration, and commercial events indicate that the network is growing quietly but steadily.
* The $100 million venture fund and enhanced developer support are tangible investments aimed at increasing Pi’s utility.
* The project’s evaluation criteria are shifting from speculative expectations to “utility.”

We hope this article serves as a helpful guide to objectively understanding Pi Network’s current status. For a deeper understanding, we strongly recommend reviewing the roadmap and whitepaper published on the official website to verify the project’s overall vision for yourself.

Deep Dive: Pi Network’s ‘.pi Domain’ Strategy – From Name Grab to True Value Creation

Pi Network, a project gaining global attention for its easy smartphone mining, is seeing a surge in auctions for a new digital asset within its ecosystem: the ‘.pi domain’. However, beneath the surface, speculative activities have intensified, prompting the Pi Network Core Team to introduce new strategies and policies aimed at fostering healthy ecosystem growth.

This article delves into these latest developments, explaining in an easy-to-understand manner what the true value of the ‘.pi domain’ is, beyond merely a scramble for names, and what Pi Network truly aims for.

Latest Updates to Pi Network’s ‘.pi Domain Auction’

So, what exactly has changed? Recent updates have significantly improved the auction’s transparency and usability. Here, we’ll outline the main changes:

  • Introduction of a Statistics Page: A dedicated page has been added to provide real-time updates on auction status, including which domains are receiving the most bids and the highest bid prices. This enhances transparency by making overall trends visible.
  • Auction Functionality as a Standalone App: The auction feature, previously part of the Pi wallet, has become an independent application. This allows for UI (User Interface) improvements and the addition of unique features, such as the email notifications mentioned later.
  • Improved UI/UX and Accessibility: The overall interface has been refined, making it more intuitive and smoother for more users to participate in bidding.

These updates are designed to create a fairer environment, enabling more users to participate.

Emerging Challenge: The Problem of ‘Domain Squatting’

However, as auction activity intensifies, a concern flagged by the Core Team has also come to light: ‘Domain Squatting’. This section will explain what this issue is and why it could hinder the healthy growth of the Pi Network ecosystem.

What is Domain Squatting?

Domain squatting refers to the act of acquiring a domain name that includes a specific company name, a famous brand name, or a common word likely to increase in value in the future, before the person or company who would legitimately use it. The primary goal is often to resell that domain name at a high price for profit later on.

To illustrate with a familiar example, it’s like someone who hears about a new city development buying up all the addresses like “Station Front 1st Street” or “Ginza Avenue,” which are likely to become famous, before people who actually want to open shops there. Those who genuinely want to build a store would then have no choice but to buy the address at an exorbitant price or open their business in a less prominent location.

The Pi Network Core Team points out that in the Pi Network auction, activities indicative of squatting are active, such as famous company names like “tesla.pi” and “amazon.pi” receiving high bids. Such practices could impede the overall development of the ecosystem.

The Core Team’s Vision for ‘.pi Domains’ – Functional Identity in the Web3 Era

So, if the purpose isn’t speculative trading, what value does the Core Team see in ‘.pi domains’? The answer lies in the concept of “functional identity in the Web3 era.”

This means more than just functioning as a website address. A ‘.pi domain’ is a type of “Web3 domain” based on blockchain technology, and it is expected to play multi-faceted roles, such as:

  • Recognizable Access Point: Instead of complex wallet addresses (e.g., GABCD...XYZ), users can send and receive Pi coins using human-readable names like “your-shop.pi.”
  • Gateway to Apps and Services: Users can directly access specific decentralized applications (dApps) or services by simply typing “game-app.pi” into their browser.
  • Digital ‘Face’ or ‘Signboard’: It serves as a central element for individuals and businesses to establish their brand or identity within the Pi Network ecosystem.

The Core Team’s vision is for .pi domains to be utilized not merely as speculative assets, but as reliable entry points for functional stores, tools, and services within the Pi ecosystem. This utility is deemed to be the true creator of a domain’s value.

Future Outlook: A Shift Towards Developer Support and Utility Creation

To realize this vision, Pi Network is preparing its next move. It’s not just about providing the ‘land’ of a domain, but about enabling anyone to easily ‘build structures (i.e., apps and services)’ on that land.

Specifically, it has been indicated that tools are being developed to make it easier for even non-programming experts to build and deploy applications. This will clearly shift the project’s focus from speculative name trading to supporting the creation of actual services and businesses.

Summary: The Potential of ‘.pi Domains’ Beyond Speculation

To summarize Pi Network’s recent announcements:

  1. Improved Usability: The auction function has been updated, making it more accessible.
  2. Clarified Challenges: Speculative activities like “domain squatting” are being addressed as an issue.
  3. Vision Presented: The Core Team aims for domain ‘utility’ rather than speculation.
  4. Future Foundation: Tools will be provided to enable anyone to participate in development, fostering ecosystem growth.

Pi Network’s ‘.pi domain’ holds immense potential as a new digital asset in the Web3 era. However, whether its value will be generated by short-term speculation or built upon long-term utility remains to be seen. The Core Team has clearly chosen the latter path, demonstrating its commitment to creating an environment for that purpose.

This policy shift will be a crucial test to determine whether Pi Network ends up as a fleeting trend or genuinely builds a sustainable digital economy.