「Cryptocurrency」タグアーカイブ

Pi Network and BYBIT Controversy: Debate on Project Legitimacy and Misunderstandings

In recent years, various projects have been attracting attention in the cryptocurrency market. Among them, “Pi Network” is one project that has particularly stirred up a lot of discussion. Recently, a heated debate unfolded between Pi Network and Ben Zhou, the co-founder of the cryptocurrency exchange BYBIT. This article will delve into the background of this debate, Pi Network’s stance, and future prospects.

Origin of the Debate: Criticism by Ben Zhou

This debate began when Ben Zhou called Pi Network a “scam” and leveled harsh criticism against the project. He cited a warning document issued by the Chinese police, claiming that Pi Network was involved in fraudulent activities targeting the elderly. However, it was later revealed that this warning was not about Pi Network itself, but rather about third parties misusing the project’s name.

Pi Network Shaken by KYB Introduction: Impact of Bybit CEO’s Remarks on Investors

Pi Network’s Response

In response to this criticism, Pi Network issued an official statement clarifying its position. The project emphasized the following points:

Pi Network claims to have no connection whatsoever with fraudulent activities misusing the project’s name.
They have not received any direct warnings or communications from the Chinese police.
They strongly condemn malicious impersonators and misleading actions.

Furthermore, Pi Network acknowledged the difficulty in managing extreme behavior occurring within the community but explained that such actions do not represent the project itself.

https://x.com/PiCoreTeam/status/1893085633628803305

Community and Regulatory Challenges

The challenges Pi Network faces are not limited to this recent debate. The project also has the following issues:

Extreme behavior within the community: Some users exhibit aggressive attitudes, leading to criticism of others and misunderstandings.
Regulatory challenges: Adaptation to different cryptocurrency regulations in various countries is necessary, which can lead to misunderstandings and troubles during the process.
Dissatisfaction with the price: Some users are dissatisfied with the current Pi coin price, which affects overall trust in the project.

Future Outlook

As revealed in the recent statement, Pi Network plans to continue prioritizing transparency and making efforts to avoid misunderstandings and troubles. They are also considering strengthening collaboration with centralized exchanges (CEX) and decentralized exchanges (DEX), aiming for market trust recovery and growth.

Summary

This debate between Pi Network and BYBIT highlighted the importance of understanding and information sharing in the cryptocurrency market. The project side is required to build trust through transparency and accurate information provision. On the other hand, users and community members also need calm judgment and responsible behavior.

While such discussions may continue in the future, we hope that constructive dialogue will progress from each party’s perspective.

Bybit CEO Calls Pi Network a ‘Scam’, Hacked for $146 Million the Next Day

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On February 21, 2025, Ben Zhou, CEO of cryptocurrency exchange Bybit, accused the Pi Network of being a “scam.” This accusation is based on a warning issued by Chinese police in 2023, which pointed to fraudulent activities targeting the elderly.

Background of the Pi Network Scam Allegations

Zhou stated that the Pi Network promotes “free cryptocurrency mining just by downloading the app” and that it has been accused of collecting personal information and engaging in fraudulent activities targeting the elderly. He also claimed that the project’s referral scheme and “token lockup” model resemble past Ponzi schemes.

Furthermore, Zhou criticized the lack of transparency in the Pi Network, stating that “a legitimate project should be accountable for addressing allegations.”

Largest Hacking Incident in History Occurs the Following Day

Ironically, the day after Zhou criticized the Pi Network, on February 22, Bybit suffered one of the largest hacking incidents in history. In this attack, approximately 401,000 ETH (worth about $146 million) were stolen. The attackers manipulated smart contract logic to illegally move funds from a multi-signature wallet.

Further investigation revealed that this attack was carried out using sophisticated phishing techniques and social engineering. The attackers altered the user interface to make it appear as a legitimate address, tricking users into approving fraudulent transactions.

Involvement of North Korean Hacker Group “Lazarus Group”

It is highly likely that the North Korean government-backed hacker group “Lazarus Group” was involved. This group is known for past attacks on exchanges like Phemex. In this attack, smart contract logic was manipulated, and funds were moved between wallets.

Impact on the Cryptocurrency Industry and Future Challenges

This incident has had a serious impact on the entire cryptocurrency industry. In particular, the security of blockchain technology and the trustworthiness of exchanges are being questioned. Bybit announced that it would compensate for the losses, but many users are concerned about the security of their assets.

Furthermore, this incident could have ripple effects on other projects. For example, emerging projects like the Pi Network will likely be required to strengthen their security measures and transparency.

Bybit’s Response

Ben Zhou apologized for the incident and reported that “all withdrawal requests have been processed and are now back to normal pace.” He also announced that Bybit is implementing new security measures and working to prevent future occurrences.

Conclusion

This incident has left many lessons for the entire cryptocurrency industry. User protection and enhanced security will become increasingly important in the future. Furthermore, transparency and trustworthiness are required from emerging projects and exchanges.

Readers are also advised to be very careful with their asset management and choose a safe trading environment.

Comparison of Pi Coin and Sidra Coin: Similarities, Differences, and Exploring Investment Potential

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Pi Coin and Sidra Coin are attracting attention in the cryptocurrency market. Pi Coin has gained tens of millions of users as an innovative project that can be easily mined on smartphones, while Sidra Coin is attempting to carve out a new market with its Sharia-compliant financial system and limited supply. This article provides a detailed comparison of their commonalities and differences, exploring their technical features, market positions, and investment potential from a 2025 perspective and beyond. We aim to deliver information that is easy for cryptocurrency beginners to understand and useful for making investment decisions.

Basic Information on Pi Coin and Sidra Coin: Latest Data for 2025

Let’s understand the overview of each project by comparing the basic specifications of both coins. Below is a detailed table including assumed data as of February 2025.

Item	Pi Coin	Sidra Coin
Development Start Year	2019 (by Stanford University graduates)	2024 (by Sidra Bank)
Supply	Max 100 billion (decreasing with halving, approx. 70 billion currently assumed to be in circulation)	Limited supply (several million, initial issuance assumed to be 5 million)
Mining Method	Energy-efficient mining via smartphone app (SCP-based)	KYC authentication required, unique Sharia-compliant mining process
Target Market	Global (45+ countries, 70M+ users)	Primarily Islamic countries (256 countries coverage, Dubai-based)
Key Technologies	Stellar Consensus Protocol (SCP), Distributed Ledger Technology	Sharia-compliant DeFi, DEX (Decentralized Exchange), AI Integration
Current Status (Assumed Feb 2025)	Open Mainnet operational (started 2/20/2025), listed on major exchanges	Presale ended, Mainnet preparation underway (planned within 2025)

Note: Prices and status are predictions and subject to change based on actual market trends. Please check official announcements for the latest information.

Commonalities: Why Are They Compared?

Pi Coin and Sidra Coin are different projects, but there are several reasons why they are compared. These commonalities are factors that lead investors and users to perceive a rivalry between them.

Utilization of Web3 and AI Technology: Both are based on next-generation Web3 technology and aim to optimize transactions and improve user experience through AI. Pi pursues high-speed processing with SCP, while Sidra seeks efficiency with AI-driven DeFi.
Philosophy of Decentralized Network: Building a user-led ecosystem independent of centralized banks and institutions. Pi emphasizes the Pioneer community, while Sidra highlights Sharia-compliant decentralized finance.
Integration with E-commerce: Sidra is conducting partnership tests with Amazon and Alibaba (awaiting test results in early 2025), while Pi is expanding its global P2P marketplace. This increases the potential for real-world utility.
Attractiveness to Investors: Both have significant growth potential in immature markets and are attracting attention from investors seeking high returns from initial investments. Pi’s large user base and Sidra’s scarcity are key attractions.
Mobile-Friendly: A common approach is to lower the barrier to cryptocurrency by being designed for mining and use on smartphones.

Background: In the 2025 cryptocurrency market, the spread of Web3 and DeFi is progressing, and e-commerce adoption is considered key to price increases. In this regard, both compete while pursuing different strategies to capture market share.

Differences: In-depth Analysis of Strengths and Weaknesses

While Pi Coin and Sidra Coin may seem similar, they have clear differences. We will analyze their strengths and weaknesses in detail to provide material for investment decisions.

Pi Coin

Strengths:
- Massive Community: Over 60 million users (assumed as of Feb 2025) is a scale unmatched by other cryptocurrencies. Increased demand is expected after Mainnet launch.
- Global Reach: Recognized in over 45 countries, with widespread adoption regardless of region.
- Energy Efficiency: Low environmental impact due to SCP adoption, appealing to ESG investors.
Weaknesses:
- Decreasing Mining Rewards: Halving reduces profitability for new users. Early Pioneers have an advantage.
- Price Volatility Risk: A large amount of free-mined coins could flood the market, increasing selling pressure.
- Intensifying Competition: Competing with existing major players like Ethereum and Solana.

Sidra Coin

Strengths:
- Scarcity due to Limited Supply: Low inflation risk with a cap of several million coins, expected to increase in value.
- Sharia Compliance: Specialization in the Islamic finance market (approx. 2 billion people) is unique. Dubai base appeals to Middle Eastern investors.
- Short-term Growth Potential: Potential for rapid surge as an emerging project (forecasts up to $525).
Weaknesses:
- Short History: Started in 2024, lacking track record. Questions about reliability and stability.
- Market Limitation Risk: Low recognition outside Islamic regions, challenges in global expansion.
- Regulatory Risk: Sharia compliance could pose legal hurdles in some regions.

Analysis: Pi’s strengths are stability and scale, while Sidra’s are scarcity and specialization. The choice depends on your investment stance (long-term or short-term).

E-commerce Integration: Expanding Possibilities

In the 2025 cryptocurrency market, integration with e-commerce is considered a growth driver. Let’s look closely at the initiatives of both coins.

Sidra Coin: Partnership Tests with Amazon/Alibaba

Current Status: Payment tests with Amazon and Alibaba are underway in early 2025. Sidra Coin is becoming usable for specific product purchases.
Impact: If successful, it will establish its position as a cryptocurrency for daily use. Demand surge could potentially push the price to $300-$500.
Challenges: Contracts with major companies are still in the testing phase and not finalized, carrying a risk of failure.

Pi Coin: Expanding Global Payment Network

Current Status: After Mainnet launch, the P2P marketplace is available in 350 countries. Practical use is being demonstrated through events like PiFest.
Impact: If it becomes established as a global payment method, it could reach a stable price range of $100-$200.
Challenges: Needs to maintain uniqueness as competitors like PayPal and Visa advance their cryptocurrency support.

Prediction: Sidra’s key is a short-term boost, while Pi’s is building a long-term foundation. E-commerce adoption will be a catalyst for price increases for both.

Investment Scenarios: 2025 Price Predictions and Strategy

From an investor’s perspective, we will consider the potential of both coins in 2025 through different scenarios. These are predictions and depend on market trends.

Pi Coin

Optimistic Scenario: $150-$200 with successful Mainnet and e-commerce adoption. Demand from 70M users drives it.
Realistic Scenario: $50-$100 is the stable range due to selling pressure and competition.
Pessimistic Scenario: Drops below $20 due to mass selling by miners.

Sidra Coin

Optimistic Scenario: $500-$600 with successful Amazon partnership and scarcity. Could be a temporary boom.
Realistic Scenario: $200-$300 due to Mainnet delays or lack of recognition.
Pessimistic Scenario: Crashes below $50 due to project failure.

Strategy: Long-term hold is effective for Pi, while short-term trading is effective for Sidra. Allocate 5-10% of your portfolio to diversify risk.

Comparison Summary: Which Should You Choose?

Pi Coin: Best suited for investors seeking long-term stability and global reliability. The strength of the community supports growth.
Sidra Coin: For investors willing to bet on short-term profits and the growth of the Islamic market. Higher risk but also potentially higher returns.

Conclusion: Both fulfill different market needs and have the potential to compete and coexist. The choice depends on your investment goals (stability vs. rapid growth), risk tolerance, and market trends. Investing a small amount in both to diversify is also a wise strategy.

*This article is for informational purposes as of February 2025 and is not investment advice. The market is volatile, so please make decisions at your own risk.

Pi Network’s Open Network Launch: The Challenge of Cryptocurrency Mass Adoption

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On February 20, 2025, the Pi Network transitioned to the long-awaited Open Network. This historic moment is the culmination of six years of effort by over 60 million Pioneers worldwide. Pi is known for its unique approach that sets it apart from traditional cryptocurrency projects, and its unconventional stance has attracted significant attention. This article provides a detailed explanation of the features of the Pi Network, the significance of the Open Network, and future prospects.

Founder Chengdiao Fan posted a video on the official YouTube account, and we have featured its content in this article. (This video is currently displayed on the Pi app home screen)

What is the Pi Network? A Six-Year Journey

In the early days of cryptocurrency, when many projects raised funds through ICOs (Initial Coin Offerings), the Pi Network chose a different path. Pi adopted a system where anyone could participate for free, without any token sales. This resulted in 80% of Pi tokens being allocated to the community and its participants, achieving a widely distributed token distribution.

Furthermore, while many projects are released with just a white paper or smart contract, Pi spent six years building infrastructure and an ecosystem. It maintained a cautious stance, waiting for practical utility to be secured before transitioning to the Open Network. During this process, identity verification through KYC (Know Your Customer) and KYB (Know Your Business) was conducted, ensuring the legitimacy of millions of users and businesses.

What is Pi Network’s KYB Authentication? Key to Business Participation in the Open Mainnet

Pi asserts that “true decentralization is not inconsistent with reliability and legitimacy.”

Pi’s Strength in Attracting Mainstream Users

Some cryptocurrency critics have pointed out that “Pi’s users are too heavily skewed towards the mainstream.” However, this is precisely the Pi Network’s greatest strength. For cryptocurrency to become widely adopted, an environment where ordinary people can easily use the technology is necessary. By welcoming not only cryptocurrency enthusiasts but also mainstream audiences, Pi is tackling the challenges of mass adoption and real-world utility.

Looking back at history, for technology to survive long-term, it is essential to meet the needs of real people. By attracting a mainstream user base, Pi is expected to serve as a catalyst for the entire blockchain industry to pursue true utility.

Overturning Cryptocurrency Norms! The “Anyone Can Participate” Digital Economy Pi Network Aims For

The Start and Significance of the Open Network

With the launch of the Open Network, external connections to the Pi blockchain became possible, and the closed environment was lifted. This brings about the following benefits:

Merchants: Easier sale of goods and services in local markets.
Developers: Advance app development and support the completion of business models.
Creators: Expand influence and gain new opportunities.
General Pioneers: Strengthen transactions and connections between users.

Especially for new developers, Pi is an attractive platform. Developers who already have a business model can test and start selling their products on Pi. On the other hand, developers with excellent app experiences can leverage the existing monetization model provided by the Pi Ad Network. This opens up a path to earn revenue while securing traffic.

What is the Pi Ad Network?

The Pi Ad Network is a system where developers can integrate ads into their apps and earn revenue by utilizing the traffic provided by the platform. This brings utility to all Pioneers and increases the value of the entire network.

Detailed Explanation of Pi Ad Network: Pi Network Ecosystem’s New Advertising Platform Released

Future Prospects and Message to Pioneers

The Pi Network’s Open Network is a step towards demonstrating new possibilities for cryptocurrency. It is important to stay focused on what matters without being distracted by external noise. Pioneers are encouraged to continue exercising creativity and striving to make a difference in the real world.

Pi aims to show the world new possibilities in cryptocurrency and prove its value in the era of the Open Network. It will continue to walk alongside Pioneers to build a future where blockchain technology is truly rooted in society.

Pi Network: Latest Developments and Price Prediction

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Pi Network is attracting attention as a new blockchain project that allows users to easily mine cryptocurrency on their smartphones. Unlike traditional cryptocurrencies, this project does not require expensive mining rigs and offers a mechanism where users can earn coins simply by opening the app daily.

Features and Purpose of Pi Network

Founded in 2019 by Stanford University graduates, Pi Network aims for a fair digital currency system. Users can mine for free and conduct transactions or use apps within the ecosystem through the Pi Browser. Furthermore, the KYC (Know Your Customer) process ensures security and fairness.

Challenges After Mainnet Launch

The long-awaited mainnet was launched on February 20, 2025, but this event caused significant price volatility. The Pi token recorded a sharp drop of approximately 50% immediately after the launch, raising concerns about liquidity issues and selling pressure. For example, the vulnerability of the market structure has been highlighted, as large-scale transactions can significantly impact the price.

Liquidity Issues and Market Impact

Currently, Pi tokens are available for trading on some exchanges like OKX and Bitget, but listing on major exchanges such as Binance and Coinbase is undecided, leading to a lack of overall market liquidity. Unless this situation is resolved, questions remain about long-term price stability.

Potential for Price Recovery

Several factors will influence the potential price recovery of Pi Network. Firstly, if listing on major exchanges like Binance is realized, demand for the token could increase, potentially leading to price recovery. Also, if Bitcoin and other major cryptocurrencies see significant gains across the overall market, the Pi token will likely benefit from that.

Market Cap and Supply

Currently, Pi Network has a circulating supply of approximately 6.3 billion tokens and a market cap of 6.1 billion dollars. Calculating from this supply and market cap, the current token price is approximately 0.7 dollars. This value may fluctuate depending on overall market growth and improvements in liquidity.

Summary: Expectations and Challenges for the Future

Pi Network has garnered significant attention due to its uniqueness and convenience. However, it also faces many challenges, such as liquidity shortages and market structure vulnerabilities. If listing on major exchanges and overall market growth progress in the future, price recovery and further growth can be expected.

It is important for investors and users to monitor market trends while reviewing their asset management strategies. Let’s keep an eye on how Pi Network develops and overcomes the challenges of liquidity and adoption rate.

Pi Network and the Future of Cryptocurrency: Why You Should Start Mining Now

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The cryptocurrency market is evolving daily, and among them, the Pi Network is attracting attention. In particular, the launch of the Open Mainnet, scheduled for the first quarter of 2025, will be a significant milestone in the history of the Pi Network. This blog will explain the latest information about the Pi Network and its potential in an easy-to-understand way for beginners.

What is Open Mainnet?

Open Mainnet refers to a state where the blockchain is fully operational and actual transactions can take place. This will allow Pi Coin to be traded on external exchanges for the first time and used in real economic activities.

Currently, the Pi Network is in the “Closed Mainnet” phase, where external connections are restricted. However, the transition to Open Mainnet will lift this restriction, allowing users to freely use Pi Coin for transactions and payments.

Why is Open Mainnet Important?

Transaction Liberalization: It will be possible to purchase goods and services using Pi Coin.
dApp Deployment: Decentralized applications (dApps) will operate on the Pi Network, expanding new use cases.
Increased Value and Utility: The demand for Pi Coin is expected to increase, potentially raising its value.

Current Progress

As of February 2025, the number of users who have completed the KYC (Know Your Customer) process on the Pi Network has exceeded 10 million. This achievement indicates that preparations for the transition to Open Mainnet are progressing smoothly. The Pi Core Team is also working to help even more users complete KYC and migrate to the Mainnet.

The final deadline for the transition to Open Mainnet is set for February 28, 2025, after which users who have not completed KYC may lose access to their Pi Coins. Therefore, it is recommended that those who have not yet completed KYC proceed with the process as soon as possible.

Expected Launch Date

Currently, many users are anticipating March 14, 2025 (“Pi Day”), as the Open Mainnet launch date. This day also holds symbolic meaning and will be a memorable day for many users.

For Beginners: Preparations You Can Make Now

Please take the following steps to prepare for the Open Mainnet:

Complete the KYC Process: Complete the identity verification process within the Pi app.
Wallet Setup: Download the Pi Wallet and store your backup in a safe place.
Continue Mining: Launch the app daily and continue mining to earn more Pi Coins.

Summary

The transition of the Pi Network to Open Mainnet is a crucial step that opens the door to a new era of cryptocurrency. This will enable users to utilize Pi Coin in real economic activities, potentially significantly increasing its value. Even if you are not yet prepared, take this opportunity to proceed with necessary procedures such as KYC and wallet setup.

Take a step towards the future starting today!

Pi Network: Open Network Launch on February 20, 2025, and Its Impact

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On February 20, 2025, the Pi Network will officially launch its long-awaited open network. This transition to a new phase is expected to significantly expand the practical use of Pi coins by allowing the previously restricted ecosystem to connect with external platforms.

Overview of the Open Network

The Pi Network was founded in 2019 by Stanford University graduates and has gained attention as a platform that allows easy cryptocurrency mining on smartphones. Until now, it has operated in a phase called the “Enclosed Mainnet,” with limited external connections. However, the transition to the open network opens the way for Pi coins to integrate with other blockchains and real-world applications.

Key Changes

Global Connectivity: Pi coins will be tradable with other blockchain networks, moving beyond the closed ecosystem.
Increased Adoption: With the participation of businesses and developers, the scope of Pi coin usage is expected to expand rapidly.
Security and Compliance: All transactions will require KYC (Know Your Customer) and KYB (Know Your Business).

Warning to Users

The Pi Network team strongly warns users to use only official tools. In particular, using the official wallet within the Pi Browser is recommended. This is to protect assets from scams and phishing attacks. Users are also advised not to share passwords or personal information with third parties.

Popularity and Challenges in the Japanese Market

The Pi Network is very popular in the Asian market, especially in Japan. Many users in Japan have completed KYC, and interest in the project is high. However, some concerns have been raised regarding centralization risks and delays in project progress.

KYC and Security

The KYC process is important for ensuring a secure trading environment, but the procedure can sometimes take time. In particular, issues such as a shortage of KYC slots have been pointed out in some regions, such as China.

Listing on OKX and Its Impact

Starting February 20, 2025, Pi coin trading will begin on the cryptocurrency exchange OKX. This listing provides users with new trading opportunities, but there are also concerns about security and compliance. Especially for beginner users, thorough information gathering and risk assessment are required before trading.

Summary

The launch of the Pi Network’s open network has the potential to significantly impact the entire cryptocurrency industry. However, to ensure safety and transparency, it is important to use official information sources and act cautiously. Let’s continue to pay attention to the progress of this project.

*This article is not investment advice. Please conduct your own thorough research before making any decisions.

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

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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.

Pi Network’s Open Network Launches: A New Era of Cryptocurrency

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2025年2月20日、Piネットワークはついにオープンネットワークに移行し、完全に分散化されたブロックチェーンとして新たな段階に入りました。この重要なマイルストーンは、Piコインが閉鎖的なエコシステムから外部接続可能な環境へと進化することを意味します。本記事では、Piネットワークの旅路、その意義、そしてオープンネットワークがもたらす期待について詳しく解説します。

What is the Pi Network?

The Pi Network is a cryptocurrency project developed by researchers at Stanford University, aiming to enable easy mining via mobile devices. Without requiring traditional energy-intensive hardware, users called “Pioneers” can earn Pi coins using a lightweight mobile app.

Since the app was released on March 14, 2019 (Pi Day), the Pi Network has gained tens of millions of users worldwide and has built a robust ecosystem by leveraging the power of its community. Currently, over 10 million people have completed KYC verification, and over 100 Mainnet-compatible apps are available.

Transition to the Open Network

The transition to the Open Network is a major turning point for the Pi Network. In this new phase, secure connections with external systems are possible, allowing Pioneers and businesses to utilize Pi coins more broadly.

External Connectivity: The Open Network allows the Mainnet blockchain to connect with other compliant networks and systems.
KYC and KYB Verification: To maintain a secure and compliant ecosystem, users and businesses must complete KYC and KYB verification, respectively.

Expected Impact

With the launch of the Open Network, the following changes are expected:

Exchange Trading: Listing on major exchanges like Bitget and OKX will allow for the understanding of Pi coin’s liquidity and value.
Real-World Use: Pi coins can be used for various purposes, such as purchasing goods and services or exchanging with other cryptocurrencies.

Journey So Far

The Pi Network has grown through carefully designed phases. In December 2021, Mainnet Phase 3 (Closed Network) was launched, during which the following were achieved:

KYC completion and migration to Mainnet by Pioneers
Development of practical apps and utilities by developers
Introduction of a new mining reward model

In July 2024, a “Grace Period” was introduced, providing time and incentives for many users to migrate to Mainnet. This strategy ensured the exclusion of unverified Pi coins and secured mining opportunities for new Pioneers.

Conclusion

The Pi Network’s transition to the Open Network is a groundbreaking event for the entire cryptocurrency industry. This advancement is expected not only to provide new opportunities for Pioneers and businesses but also to significantly enhance the value and utility of the Pi coin itself. It is a project that will continue to be worth watching.

Pi Network has taken a step into a new era!

Pi Network Price Prediction: Potential Based on Market Cap and Circulating Supply

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Pi Network, which is attracting attention in the cryptocurrency market, has announced that it will transition to the “Open Network” phase on February 20, 2025. This transition is expected to make Pi Coin widely available as a cryptocurrency with real-world use cases. This article analyzes Pi Network’s price prediction based on Market Cap and Circulating Supply, and compares it with other major cryptocurrencies such as Ethereum and XRP.

What is Pi Network?

Pi Network is a cryptocurrency project characterized by easy mining on smartphones. It started in 2019 and is scheduled to transition to the “Open Network” phase on February 20, 2025, after more than 6 years of development. This transition will enable connection with external systems, and trading on exchanges and utilization in the real world are expected.

Price Calculation Based on Market Cap and Circulating Supply

Market Cap and Circulating Supply are important indicators for predicting the price of Pi Coin. Market Cap is calculated as “Current Price × Circulating Supply” and indicates the total value of the cryptocurrency.

In the case of Ethereum

In the case of Ethereum (ETH), the market cap is approximately $324 billion, and the circulating supply is approximately 120.54 million ETH. In this case, the price per 1 ETH is calculated as follows:

324 billion dollars ÷ 120.54 million ETH = approximately $2687

In the case of XRP

For XRP, the market cap is approximately $119.8 billion, and the circulating supply is approximately 5.725 billion XRP. In this case, the price per 1 XRP is as follows:

119.8 billion dollars ÷ 5.725 billion XRP = approximately $2.09

In the case of Pi Network

For Pi Network, the circulating supply is currently assumed to be approximately 6 billion Pi. If the market cap is $1 billion, the price per 1 Pi is calculated as follows:

1 billion dollars ÷ 6 billion Pi = 0.1 dollars

On the other hand, if the market cap reaches $324 billion, similar to Ethereum, the price per 1 Pi will be as follows:

324 billion dollars ÷ 6 billion Pi = approximately $54

Expectations Based on Comparison with Other Cryptocurrencies

Compared to major cryptocurrencies like Ethereum and XRP, Pi Network faces many challenges to achieve a market cap equal to or greater than theirs. However, the possibility is expected to expand as real-world use cases increase with the transition to the “Open Network” phase.

Expectations for Exchange Listing and Use Cases

The planned listing on exchanges on February 20, 2025, will be a major turning point for Pi Network. Some exchanges, such as OKX, have already started accepting Pi Coin deposits, and this movement could generate further demand. Furthermore, in the “Open Network” phase, connection with external systems will be possible, and the development of new use cases is expected.

Uncertainty and Hope in the Cryptocurrency Market

The cryptocurrency market is highly uncertain, but stable growth is expected as use cases are strengthened in the “Open Network” phase. Even if the price does not reach the expected level in the initial stage, its value may increase through new applications and business models.

Summary

Pi Network is attracting attention due to its unique concept and large community. As can be seen from the price predictions based on market cap and circulating supply, its potential is unknown. Pi Network is entering a new phase with the transition to the “Open Network” phase. It is necessary to monitor its movements and analyze and judge information for oneself.