Introduction: The “Hype” Versus “Reality” Surrounding Pi Network
The “Pi Network” has garnered significant attention for allowing users to obtain cryptocurrency with just a smartphone, forming a massive global community. As 2025 unfolds, its trajectory is entering a new phase.
On social media, seemingly miraculous success stories are circulating, such as an Indian farmer buying a smartwatch for his son with saved Pi, or someone acquiring a laptop using Pi. These tales have steadily amplified expectations for the project. Are these truly indicators that Pi Network has finally triggered a “digital revolution” with real-world value?
This article aims to explore what lies behind such fervent expectations, analyzing objective facts based on reliable sources without being swayed by mere rumors or speculation. Our goal is to provide a clear compass for accurately understanding Pi Network’s “now” and envisioning its future.
What Exactly is Pi Network?
To understand Pi Network’s current status, it’s crucial to first grasp its fundamental mechanism and purpose. Here, we will clearly explain its core concepts.
Concept: A Project Aiming for “Cryptocurrency Accessible to Everyone”
Pi Network was launched in 2019 by a team holding PhDs from Stanford University. Its primary vision is to create a decentralized digital currency that anyone in the world can easily participate in with just a smartphone, without requiring specialized knowledge or expensive equipment, unlike Bitcoin.
Mobile Mining Mechanism and Two Network Phases
When you hear “mobile mining,” you might imagine complex calculations that drain your battery. However, Pi Network’s mechanism is different. Unlike Bitcoin’s “Proof of Work” (proof by computation), it employs a unique algorithm based on trust relationships among users (rooted in the Stellar Consensus Protocol). This allows users to contribute to maintaining network security with simple actions, such as tapping a button on the app once a day, and receive Pi as a reward.
The project has progressed through two major phases:
- Enclosed Mainnet: A “walled garden” network where Pi transactions are restricted to Pi Network’s applications and services. There is no connection to the external world.
- Open Mainnet: The phase where the “walls” are removed, allowing Pi to connect with external blockchains and exchanges. This enables Pi to be exchanged for other cryptocurrencies or fiat currencies.
Fact Check: The Truth Behind the “Historic Update” in 2025
As 2025 began, Pi Network reached a significant milestone. Let’s examine the claims of a “historic update” circulating within the community, comparing them against objective facts based on official announcements and reliable sources.
Claim ①: Has the Open Mainnet Finally Launched? → Fact: Migration Has Begun, but Challenges Remain
Multiple sources report that Pi Network began its migration to the Open Mainnet around February 20, 2025. This marks the project’s most significant development, signifying that the technical gateway for Pi to break free from its enclosed ecosystem and connect with the external economy has opened. Consequently, Pi trading has commenced on some exchanges.
Claim ②: Is KYC 100% Complete? → Fact: Target Surpassed, but Not All Users Are Verified
KYC (Know Your Customer) is a crucial process for eliminating fraudulent accounts and maintaining network integrity. According to official information, over 18 million users have completed KYC, surpassing the initial target of 15 million. However, this does not mean all users have completed it; many are still awaiting the completion of their KYC process. Issues such as authentication delays and difficulties in completing the procedure remain significant challenges for the community.
Claim ③: Can Real-World Goods Be Purchased with Pi? → Fact: Primarily Limited to P2P Transactions
The claim that “you can buy things with Pi” is not entirely false. However, it’s essential to understand the true situation. Currently, there isn’t an official, large-scale marketplace like Amazon.
Transactions are primarily conducted in the following ways:
- User-Initiated Marketplaces: Users buy and sell goods or services with Pi on applications developed within the Pi Network ecosystem, such as “PiChain Mall” and “Barter Mall.”
- P2P (Peer-to-Peer) Transactions: Direct transactions between individuals or at a limited number of local stores that are experimentally implementing Pi payments.
Therefore, it’s an objective assessment to recognize that the project has not yet reached the stage where “anything can be freely purchased,” and transactions remain limited.
| Item | Official Status (As of June 2025) | Community Expectations/Rumors |
|---|---|---|
| Open Mainnet | Reported migration began around February 2025. Trading possible on some exchanges. | Strong expectations of a “historic update” and “start of a revolution.” |
| KYC (Identity Verification) | Over 18 million completed, meeting the target, but not all users are verified; many challenges remain. | Increasing reports of completion, but also complaints from unverified users. |
| Physical Stores/Product Payments | No official large-scale marketplace. Primarily user-to-user (P2P) transactions or usage in unofficial malls. | Success stories like “buying a car with Pi” or “purchasing daily necessities” seen on social media. |
Where Does Pi Network’s “Value” Originate?
What many people most want to know is, “Does Pi truly hold value?” We will delve into the mechanisms by which cryptocurrency value is formed and the ecosystem Pi Network aims to build.
The value of a cryptocurrency is not solely determined by price fluctuations. Its intrinsic value emerges from how “practical” its technology is and how widely it is “utilized” by people and services.
The source of Pi Network’s value can primarily be summarized by the following three elements:
- Realization of Open Mainnet Migration: This enabled Pi to connect with external economies for the first time, making it exchangeable with other cryptocurrencies or fiat currencies. This was an absolute prerequisite for Pi to transition from a “closed point system” to an “asset.”
- Utility and Ecosystem Development: The key to increasing value will be how many online stores accepting Pi payments and useful applications (DApps) built on Pi emerge in the future. Value is only created when there are attractive use cases that make people think, “I want to do this with Pi.”
- Massive Community and Network Effect: The existing active user base of tens of millions is Pi Network’s greatest strength. This immense user base can act as a powerful driving force, attracting new service developers and expanding the ecosystem.
Conclusion: Pi Network’s Future Outlook and Our Recommended Stance
Based on the analysis above, we will conclude on Pi Network’s current status and future.
Undeniably, Pi Network has taken a significant step by migrating to the Open Mainnet in 2025, entering a new stage of its grand social experiment. However, it has not yet reached the stage of a “completed digital revolution where anyone can buy anything,” as often circulated in background information. The project is still under development and faces numerous challenges.
Its future prospects depend on the following points:
- Improved liquidity and trustworthiness through expanded listings on major cryptocurrency exchanges.
- Expansion of practical applications and partner services that users genuinely want to use.
- Smooth resolution of the remaining users’ KYC issues and the ability to encourage overall community participation.
The wisest stance for those interested in this project is to calmly follow official information without being misled by hype or rumors. We strongly recommend checking the latest updates on the official Pi Network app or blog. Engaging with primary sources and monitoring the project’s progress with your own judgment will be the most crucial approach to discerning its future value.