「Ecosystem」タグアーカイブ

PiNetwork Ecosystem Expansion – Integration with Multiple Blockchains and Future Potential

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In the world of PiNetwork, new developments are underway. Efforts focused on PiNetwork’s goal of expanding its ecosystem and exploring collaboration with multiple blockchains are attracting attention. This article explains the latest trends in PiNetwork and related technological advancements.

Latest Trends in PiNetwork – Transition to Open Network

PiNetwork, which is attracting attention as a cryptocurrency project, is taking an important step towards expanding its ecosystem. One of these is the transition of the Layer 1 blockchain from an “Enclosed Network” to an “Open Network” phase with external connectivity on February 20, 2025 ([Open Network Launch Date | Pi Network](https://minepi.com/blog/open-network-launch-date/)).

This transition provides a foundation for PiNetwork to connect with a wider range of users and businesses and promote the growth of dApps (decentralized applications).

Plans for Collaboration with Multiple Blockchains

PiNetwork is reportedly planning to collaborate with blockchains such as BNB Chain, PiNetwork, Ethereum, Base, and Solana in the future. This collaboration is expected to allow users to exchange Pi coins with cryptocurrencies on other blockchains or bridge between different networks.

PVM – Community-Driven Layer 2 Solution

As part of the PiNetwork ecosystem expansion, a Layer 2 scaling solution called “PVM (Pi Virtual Machine)” is reportedly under development as a community project ([PVM (L2 for Pi Network)](https://github.com/LayerPi)). PVM aims for EVM (Ethereum Virtual Machine) compatibility, enabling seamless deployment of smart contracts and a new era of Proof-of-Work (PoW) mining.

Key features of PVM include:

  • EVM Compatibility: Supports Ethereum smart contracts, enabling the deployment of dApps on the Pi blockchain.
  • Layer 2 Scaling: Achieves fast transaction processing and reduced fees.
  • Proof of Work (PoW) Mining: Introduces a new mechanism that allows mining Pi tokens through computational work, reducing the initial investment cost for miners.

However, it is important to note that PVM is not an official PiNetwork project but a community-driven initiative.

PiNetwork’s Vision – Building a Complete On-Chain Ecosystem

PiNetwork is reportedly aiming to build a complete on-chain ecosystem based on VM (Virtual Machine). The KYB (Know Your Business) application process is reported to include questions confirming whether Layer 2 tokens or NFTs exist on other blockchains.

This direction suggests the possibility that PiNetwork is aiming for a mature blockchain ecosystem similar to Ethereum, and growth in the dApps development community is also expected.

Important Reminder for PiNetwork Users

While paying attention to these new developments, it is important for PiNetwork users (called Pioneers) not to forget their daily mining activities. Open the PiNetwork app and click the “lightning” button to start your daily mining session.

PiNetwork is currently reported to be building an ecosystem with a large number of KYC (Know Your Customer) verified users and mainnet participants, a decentralized node network spread across the world, mainnet-enabled applications, and a network of KYB-verified businesses.

Summary – PiNetwork’s Future Potential

PiNetwork is seeking to strengthen its position in the blockchain industry through the transition to an open network and community-driven technological development. The plans for collaboration with multiple blockchains suggest ecosystem expansion.

However, information regarding the unique DEX “PJSwap” and PJS tokens mentioned in the article is deemed unreliable. Members of the PiNetwork community are advised to regularly check for the latest information from official channels.

*Note: The information in this article is as of March 2025, and the development status of PiNetwork may change. Always check official information before making investment decisions.

Ecosystem Growth and Future Outlook

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Pi Network is an innovative platform that enables cryptocurrency mining using smartphones. It does not require special hardware and adopts a consensus algorithm based on Stellar’s Federated Byzantine Agreement (FBA), which is energy-efficient and approves transactions based on trust.

How Pi Network Works and Features

It offers a simple process where users can mine by simply pressing a button within the app. This model has less environmental impact than traditional mining and is accessible to many users.

Furthermore, there are roles such as ‘Pioneer’, ‘Contributor’, ‘Ambassador’, and ‘Node’, each contributing to network growth.

Ecosystem Value Creation

Pi Network creates value within the ecosystem through the following initiatives:

  • Consensus Formation: Value agreed upon by users is used as the standard for token transactions.
  • External Collaboration: Expansion of token adoption through cooperation with external companies and stores.
  • dApps Development: Improvement of practicality through the introduction of decentralized applications.

Challenges and Solutions

Currently, the low value of Pi tokens is due to the following factors:

  • Unauthorized Trading: Trading on unofficial DEXs hinders network goals.
  • Market Pressure: Selling behavior by long-term holders also has an impact.

To address these, the following are recommended:

  • Use of Official Exchanges: Only use approved platforms such as OKX and Gate.io.
  • Promote dApps Development: Improve practicality through ecosystem expansion.

Future Outlook

Following the successful launch of the Open Mainnet, Pi Network is focusing on the integration of dApps and the introduction of PiBridge. This is expected to increase token demand, expand the network, provide new services, strengthen the community, and improve interoperability with other blockchains.

Summary

Pi Network is gaining attention for its innovative technology and community-driven model. Moving forward, ecosystem growth and community activity will be key, and its success will be realized through cooperation with users worldwide.

The True Value of Pi Network: Dr. Nicolas Kokkalis’s Innovative Vision Beyond Cryptocurrency

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As the digital economy evolves, the world of crypto assets (virtual currency) is also rapidly changing. One project that is particularly noteworthy is “Pi Network”. While many people see this as just another virtual currency, the founders’ vision is a complex one that goes far beyond that. This article will explain in detail the true nature that Pi Network aims for and its important role in the transition from Web2 to Web3.

Transition from Web2 to Web3: A Major Transformation of the Digital World

Currently, the world of the internet is at a major turning point. The shift from Web2, dominated by centralized platforms, to Web3, a user-led decentralized system, is progressing. This transition is not easy, but it is an inevitable evolutionary process in the digital world.

The difference between Web2 and Web3 is not just in domain names. Pi Network officially introduced the .pi domain on March 17, 2025, establishing a domain system for Web3. This allows for the transition from traditional .com and .net to .pi. This announcement was made in conjunction with the start of PiFest 2025.

The essential difference between Web2 and Web3 lies in the decentralization of authority and control. In Web3, users can manage their own data and financial transactions more securely and transparently.

Key Differences Between Web2 and Web3

  • Web2: Centralized, managed by platform companies
  • Web3: Decentralized, users have the initiative
  • Web2: Domains like .com, .net
  • Web3: New domain formats based on blockchain technology (.pi, .pinet, etc.)
  • Web2: Data is owned by the platform
  • Web3: Data ownership belongs to the user

Pi Network’s Founding Team and Vision

Pi Network was founded in 2019 by three individuals: Dr. Nicolas Kokkalis (Head of Technology), Dr. Chengdiao Fan (Head of Product), and Vincent McPhillip (Head of Community). Dr. Kokkalis, in particular, as the technical leader, is not just a virtual currency developer but a visionary with an eye on the future of the digital economy.

Dr. Kokkalis aims to bring the benefits of blockchain technology to the general public through Pi Network. In his view, the true value of crypto assets lies not in speculative trading but in building a practical digital economic system.

“Pi Network’s goal is to democratize blockchain technology and build a decentralized economic system accessible to everyone.”

Pi Network Ecosystem: A Comprehensive Digital Economy

Pi Network is not just a virtual currency; it aims to build a complete digital ecosystem. This ecosystem is planned to encompass various decentralized finance (DeFi) applications and blockchain-based services.

Key Components of the Pi Network Ecosystem

  • Decentralized Finance (DeFi) Integration: According to reports, over 100 DeFi projects are expected to join the Pi Network ecosystem.
  • Smart Contracts: Contracts that execute automatically enable transactions without intermediaries.
  • NFTs (Non-Fungible Tokens): Clarify ownership of digital assets and bring new revenue streams to creators.
  • Decentralized Applications (DApps): Development of applications that do not rely on central administrators is promoted.

Through such a comprehensive approach, Pi Network has the potential to go beyond being just a payment method and become a foundation for global transactions and economic activities.

Current Status of Pi Network: Development Phase and Mining Process

Pi Network officially launched its Open Mainnet on February 20, 2025, evolving into a fully decentralized ecosystem. The number of users who have completed KYC exceeds 19 million (as of March 2025), and many users are migrating to the Mainnet.

Users worldwide, including in Japan, are participating in “mining” through a smartphone app. Unlike traditional virtual currency mining, this process is designed to be environmentally friendly, not requiring high computing power or large amounts of electricity.

Characteristics of the Mining Process

  • Participation is possible by simply tapping the “mining button” in the app once every 24 hours
  • Expansion while building a network of trust through a referral system
  • Secure earned Pi coins by completing KYC (Know Your Customer)
  • Pi Network utilizes the Stellar Consensus Protocol (SCP), making it energy-efficient and mobile-friendly

Domain Revolution: .pi and .pinet

With the transition to Web3, the internet’s domain system is also undergoing transformation. Unlike traditional Web2 domains (.com, .net), Pi Network is proposing new domain formats based on blockchain technology.

New domain extensions like .pi and .pinet are not just different names; they are part of a new identity system in the decentralized internet. These domains are managed on the blockchain, rather than traditional centralized domain management systems, providing more transparent ownership.

Importance of Community: Key to Pi Network’s Success

One of the most important factors in the development of Pi Network is community support. Currently, there are millions of Pioneers (Pi users) worldwide supporting the growth of this ecosystem.

Strengthening the community is essential for realizing Pi Network’s vision. By actively participating in building the ecosystem, not just mining currency, users contribute to the formation of a truly decentralized network.

Ways to Participate in the Community

  • Network support through daily mining
  • Knowledge sharing and awareness activities in local communities
  • Development and use of Pi Network-based applications
  • Promotion of transactions and economic activities within the ecosystem

Current Market Situation and Considerations

While Pi Network has not officially started listing on exchanges, Pi coins are already being traded on some unofficial exchanges. Prices on these exchanges are highly volatile, and there are recent reports of trading around $1.3.

Interestingly, despite the circulating supply decreasing from 1.11 billion to 699 million, a significant price increase has not been observed. This may indicate the complex dynamics of the crypto asset market.

Until the full migration to the official Mainnet is completed, the true value and market position of Pi Network remain fluid. At this point, it may be important to observe the project’s development from a long-term perspective.

Latest Announcement: Pi Day 2025

On March 14, 2025 (Pi Day), Pi Network made an important announcement. This announcement revealed the introduction of Pi Domains and a new domain system specifically for the Web3 environment. It is now possible to acquire .pi domains using Pi cryptocurrency in an auction format through domains.pinet.com, providing a foundation for developing businesses and projects in the Web3 world.

As indicated by the statement, “To have a website in the internet world, you need a domain. Similarly, to establish a presence in the Web3 world, you will need a .pi domain,” Pi Network is focusing on infrastructure development for the Web3 era.

Crypto Asset Regulations in Japan and Pi Network

In Japan, crypto assets (virtual currency) are regulated by the Financial Services Agency, and exchanges are required to be registered. For Pi Network to be officially traded in Japan, it would likely need to be listed on an authorized exchange.

Furthermore, in Japan, crypto assets are positioned as “property value” rather than a “means of payment.” Therefore, for Pi Network to be widely used as a daily payment method in the future, changes in the regulatory environment may be necessary.

When Japanese users participate in Pi Network, they also need to be aware of tax treatment. Profits obtained from crypto asset transactions are generally subject to comprehensive taxation as “miscellaneous income.”

Future Outlook for Pi Network

Pi Network holds the potential to become an important foundational technology for the Web3 era. As an ecosystem integrating decentralized finance, smart contracts, NFTs, and decentralized applications, it presents a new model for the digital economy.

For this vision to be fully realized, strengthening the technical infrastructure and continuous community support are essential. Adapting to the regulatory environments of various countries will also be an important challenge.

However, the most important aspect of Pi Network lies in its comprehensive approach. The vision of Dr. Nicolas Kokkalis and his founding team to build an entire decentralized digital economic system, rather than just a virtual currency, can be seen as an attempt to maximize the potential of blockchain technology.

Summary

Pi Network aims to build a comprehensive digital ecosystem that goes beyond a simple virtual currency project. In the transition from Web2 to Web3, this project plays an important role in realizing a decentralized economic system.

The founding team’s complex vision is to democratize blockchain technology and create a foundation for a digital economy accessible to everyone. Community support and the development of technical infrastructure will be key to realizing this vision.

As Pi Network grows into a fully functional ecosystem, we may witness new possibilities for a decentralized economy. This is not just a transformation of the currency system but holds the potential to be part of a larger social change: the redistribution of economic power in the digital world.

Pi Network’s .pi Domain Auction: Complete Guide to Mechanism, Statistics, and FAQ

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On March 14, 2025, Pi Network launched the “.pi Domain Auction” as part of its ecosystem expansion, commemorating its 6th anniversary. This auction is a new feature allowing Pi Network users (Pioneers), businesses, and developers to acquire blockchain-based domain names. This article delves into the details of the .pi Domain Auction, current statistics, and explains the technical mechanism and use cases of .pi domains.

What is Pi Network’s .pi Domain Auction?

The .pi Domain Auction is positioned as a crucial step to expand the Pi Network ecosystem. In this auction, Pioneers, businesses, and developers can bid for and acquire unique .pi domain names using Pi currency.

Nicolas Kokkalis, Founder and Head of Technology at Pi Network, stated, “Just as traditional domains shaped the internet, .pi domains have the potential to transform how we connect, interact, and build within and beyond our digital space.”

Basic Auction Information

  • Start Date: March 14, 2025 (Pi Day)
  • End Date: June 28, 2025 (Pi2Day)
  • Minimum Bid: 10 Pi
  • Eligibility: All members of the Pi Network community (including individuals who can acquire Pi through centralized exchanges)

Auction Mechanism

Participants access https://domains.pinet.com via the Pi Browser, are guided to relevant products (such as Pi Wallet), and complete their bids. On the auction interface, they enter the desired domain and place a bid for it. The highest bidder wins the exclusive right to use that domain.

A key rule is that if a new bid is placed within 24 hours of the scheduled end time for a specific domain’s auction, the auction period for that domain will automatically be extended by 24 hours. This ensures a fair opportunity for all participants.

What are .pi Domains? Technical Mechanism and Scope of Use

.pi domains are digital identifiers built on Pi Network’s unique blockchain technology. While similar in function to traditional web domains (.com, .jp, etc.), they have a special mechanism primarily used within the Pi Network ecosystem.

How to Access .pi Domains and Compatibility

  • Via Pi Browser: Within the official Pi Network browser, direct access is possible in the format “example.pi”.
  • Via Traditional Browsers: In browsers like Chrome or Safari, access is possible using the extended format “example.pi.pinet.com”. However, this compatibility is limited and is primarily intended for use within the Pi ecosystem.

.pi Domain Use Cases and Potential

.pi domains have a wide range of potential use cases, including:

  • Business Use: Utilize as an online store or brand website to increase visibility and facilitate transactions within the ecosystem.
  • Personal Use: Utilize as a user’s own digital identity to build blogs or portfolio sites.
  • Developer Use: Utilize as a hosting platform for Pi ecosystem applications and decentralized services (dApps).

.pi Domain Auction Statistics (As of March 22, 2025)

The .pi Domain Auction recorded astonishing participation rates in just one week since its launch:

  • Total Bids: Over 200,000
  • Unique Bidders: Over 40,000
  • Domains with Active Bids: Over 95,000
  • Total Active Bid Amount: Over 2.9 Million Pi
  • Current Highest Bid: 30,000 Pi

Expectations and Challenges for .pi Domain Introduction

While many expectations are placed on .pi domains, some challenges have also been pointed out:

Expected Benefits

  • Value as a Digital Asset: .pi domains acquired in the early stages may hold high value in the future.
  • Community Strengthening: Expected to play a role in strengthening the connection between Pi currency and services within the ecosystem.

.pi Domain Features and Functions

Comparison with Traditional Web Domains

.pi domains function as digital identifiers within the Pi Network ecosystem, similar to traditional web domains (.com, .jp, etc.). This allows businesses, applications, and individuals to establish a clear online identity or digital storefront within Pi Network’s social Web3 environment.

Scope of Use and Compatibility

.pi domains primarily function within the Pi Browser. Regarding compatibility with traditional browsers like Chrome and Safari, all .pi domains function through the pinet.com extension. For example, if your domain is “example.pi”, it can be accessed as “example.pi” in the Pi Browser and as “example.pi.pinet.com” in general browsers.

However, there is no guarantee that .pi domains will be adopted by traditional browsers, and they are primarily intended for use within the Pi Network ecosystem.

Frequently Asked Questions (FAQ)

Domain Acquisition and Management

Q: Can I bid on my username as a domain?
A: Yes, if it is available.

Q: Can I bid on multiple domains simultaneously?
A: Yes, you can bid on multiple domains at the same time.

Q: Can I cancel or change my bid after placing it?
A: If you are a Pioneer and placed a bid using the transferable balance feature, you can withdraw it anytime before the auction ends. However, if you are not yet a Pioneer (e.g., from an exchange) and placed a bid through standard payment, refunds will be processed after the auction ends on June 28, 2025.

Q: What happens if I don’t renew my .pi domain after the initial ownership period?
A: If you do not renew your .pi domain, it will eventually become available for others to register, similar to standard domain expiration in Web2.

Auction Revenue and Purpose

Q: Where does the revenue from domain sales go?
A: All Pi generated from the sale of .pi domains will be used to support the Pi ecosystem, including developer programs and events.

Information for Developers

Q: Can developers who have already built Pi apps reserve domains?
A: Yes. Pi community apps that comply with the Ecosystem Listing Guidelines and complete PiNet migration by May 28, 2025, can secure domains without bidding under specific requirements and limitations.

.pi Domains from an SEO Perspective

For regular web domains, including keywords in the domain name is considered from an SEO (Search Engine Optimization) perspective. However, since .pi domains primarily function within the Pi Network ecosystem, different considerations are needed compared to traditional SEO strategies.

However, from a branding perspective, choosing a domain name that is memorable, easy to type, and easy to pronounce is important. This is not only valuable for word-of-mouth advertising but also relates to processing fluency, an implicit cognitive bias where we better remember and have more positive associations with things we can easily say or think about.

Summary: Significance and Outlook of the .pi Domain Auction

Pi Network’s .pi Domain Auction is an interesting initiative that combines the establishment of digital identity with the practical application of blockchain technology. This auction provides a practical use case for Pi currency and serves as a crucial infrastructure layer to facilitate transactions and interactions within the Pi Network ecosystem.

The high participation rate in the auction demonstrates the vibrancy of the Pi Network community and confidence in the platform’s future potential. How .pi domains evolve and contribute to the growth of the Pi Network ecosystem will become clear in the coming months.

Pi Network users have the opportunity to establish their unique digital identity through this auction while participating in a practical use case for Pi currency.

Challenges and Concerns

  • Accessibility Limitations: The specification that access is not possible from outside the Pi Network may be inconvenient for some users.
  • Trademark Issues: There is a risk of legal issues arising in cases where famous brand names are listed.
  • Lack of Transparency: Concerns about the core team’s management system have also been pointed out by some in the community.

.pi Domain Revenue and Contribution to the Ecosystem

All revenue generated from .pi domain sales is reinvested into Pi ecosystem development. This includes costs for developer programs and hosting events. This is expected to lead to the continuous creation of new services and projects.

Summary: The .pi Domain Auction and Its Future Vision

.pi domains are not just digital identifiers; they play a crucial role as tools for building digital identity and facilitating transactions in the new Web3 era. This initiative not only improves the practicality of Pi currency but also provides new value to the entire community.

The .pi Domain Auction has just begun, but its success will become clear in the coming months. If you are interested, why not take this opportunity to participate and get your own .pi domain?

Pi Network Domain Auction: Over 200,000 Bids and Developer Program Prospects

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Pi Network is attracting attention as part of its ecosystem expansion, celebrating its first Pi Day after the open network launch, with the .pi domain auction being a key focus. This time, we will provide detailed information based on the announcements made on Pi Day, March 14, 2025, regarding the latest updates on Pi Network, the status of the domain auction, and the future of the developer program.

Summary Article (from official website)
https://minepi.com/blog/pi-domains-faqs/

Domain Policy
https://minepi.com/auction-domain-name-issuance-disclosure-and-policy/

Learn more about domains here
Pi Network’s .pi Domain Complete Guide: From How to Buy to Auction Tips

Current Status of Pi Network Domain Auction

In the Pi Network domain auction, over 200,000 bids have already been placed, with over 40,000 unique bidders participating. This number clearly indicates the high level of community interest in acquiring domains.

Currently, over 2.9 million Pi are actively being used for bidding in the auction, demonstrating the 활발한 economic activity within the Pi Network ecosystem.

New Domain Auction Policy

Pi Network recently announced a new policy document regarding the domain auction. This document also includes answers to frequently asked questions, making it easier for users to understand the auction process.

“The domain auction is one of the important economic activities within the Pi Network ecosystem, providing community members with the opportunity to acquire unique domains for their apps and services.”

Improved Application Compatibility and Convenience

Pi Network’s .pi domains operate within the Pi Browser, and over time, other wallets and browsers may integrate this functionality. For compatibility with traditional browsers (like Chrome and Safari), all .pi domains will also function through the extension “.pinet.com”.

Browser Compatibility

For example, if a domain is “joe.pi” within the Pi Browser or a compatible third-party service, it can also be accessed as “joe.pinet.com” through any browser. However, there is no guarantee or promise that .pi domains will be adopted by traditional browsers.

How Domain Auction Revenue Will Be Utilized

The revenue generated from the domain auction will play a crucial role in the development of the Pi Network ecosystem. Specifically, it is planned to be utilized for the following purposes:

  • Supporting the developer program
  • Hosting events
  • Providing support to app developers

Through these initiatives, the Pi Network ecosystem is expected to become even more enriched, and the number of valuable services for users is anticipated to increase.

Benefits for Developers

Developers who complete the PiNet migration by May 28, 2025, and develop Pi community apps that comply with the ecosystem listing guidelines will receive the benefit of being able to secure a domain without bidding. This is an expression of gratitude to developers who have contributed early to the Pi Network ecosystem and a measure to enhance the value of their apps and services.

Bidding on Multiple Domains

Users can bid on multiple domains simultaneously. This expands the opportunity to secure the optimal domain for their project or business.

Important Auction Dates and Notes

Auction End Date

The current domain auction is scheduled to end on June 28, 2025 (Pi2day). If you are interested in a domain, you need to complete your bid by then.

Final Bid Rules

If a bid is placed just before the auction ends, specifically within the final 24 hours, or if a winning bid is lowered or canceled, the auction period for that domain will automatically be extended by 24 hours. This ensures a fair auction process.

Domain Ownership Transfer

The process for transferring ownership of domains won in the auction is also explained. Winning bidders will acquire ownership immediately after the auction ends and may be subject to potential future annual registration and maintenance fees similar to traditional internet domain fees.

Future Outlook

Pi Network also mentions future considerations regarding domains, and winning bidders may be subject to potential future annual registration and maintenance fees similar to traditional internet domain fees.

The Pi Network ecosystem continues to grow steadily, and the domain auction is a significant part of it. For developers and users, these domains are expected to hold value beyond just a web address, becoming important assets in Pi Network’s decentralized economy.

Summary

The Pi Network domain auction is showing excitement beyond expectations, with active community participation. Over 200,000 bids and an active bid amount of over 2.9 million Pi are a testament to the trust and expectation in the Pi Network ecosystem.

Pi Network continues to grow steadily, with initiatives like strengthening the developer program and improving application convenience. Further developments are expected towards the auction end date of June 28, 2025. We recommend keeping an eye on the latest Pi Network information.

Pi Network’s Innovative Ecosystem Announced March 14th: Bringing a New Era to Cryptocurrency

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In this article, we will delve into the latest updates of Pi Network, their significance, and the positioning of Pi Coin within the cryptocurrency ecosystem.

What is Pi Network?

Pi Network is known as one of the few cryptocurrency projects that can be mined on a smartphone. Unlike traditional cryptocurrencies, it does not require special equipment and can be mined daily using a smartphone, earning it widespread recognition as “cryptocurrency for the general user.”

However, Pi Network is not just a virtual currency; its true value lies in its ecosystem and utility. This was the point emphasized in the announcement on March 14, 2025.

Important Announcement on March 14: Pi Network Reveals New Strategy

Pi Network made a significant announcement on March 14, 2025 (UTC, early morning March 15 in Japan time), on the symbolic day known as Pi Day, attracting considerable attention in the cryptocurrency industry. This announcement was published on the official X account around 10:51 AM JST on March 15, causing a stir in the community.

Introduction of Pi Domains

One of the most notable announcements was the introduction of “Pi Domains.” This is a new domain system specifically for the Web3 environment, providing the “.pi” domain extension that operates within the Pi Network ecosystem. Similar to “.com” or “.org” on the internet, it can be used directly in the Pi Browser and compatible third-party wallets, and can be acquired using Pi cryptocurrency through an auction format via domains.pinet.com. This provides a foundation for developing businesses and projects in the Web3 world.

While I would like to change my blog’s domain if possible, there is a dilemma as I would lose the accumulated SEO power.

“Just as you need a domain to have a website in the internet world, you will need a .pi domain to establish a presence in the Web3 world.”

Open Network PiFest

Open Network PiFest, which started on March 15, is an initiative connecting local merchants who accept Pi payments with Pioneers, and it will be held until March 21. This event is positioned as the first global opportunity to leverage the external connectivity of the Open Network and promote the real-world use of Pi.

Mainnet Migration Final Deadline

March 14, 8:00 UTC (March 14, 17:00 JST) was the final deadline for Pi Network’s Mainnet migration. Users who did not complete KYC verification and Mainnet migration by this deadline were confirmed to lose most of their Pi balance, excluding the mining rewards from the most recent six months. Pi Network had previously offered multiple extensions, but this was the final deadline.

Pi Network’s Ecosystem and Utility

While many cryptocurrency projects focus solely on price increases, Pi Network emphasizes building utility and an ecosystem. This strategy is expected to be a significant differentiator in the long term.

Platform-Level Utility

Platform-level utility is conceived and built by the Pi Network core team and differs from individual app-level utility. It leverages Pi’s collective resources and supports the foundation of Pi as a currency available to all Pioneers. For example, the .pi domain auction directly utilizes the attention and trust of the Pi community, generating real-world value through transactions in Pi cryptocurrency.

Importance of Utility

The true value of cryptocurrency is not just in trading for profit, but in having actual use cases. Pi Network is focused on building a practical ecosystem by creating an environment where users can purchase goods and services using Pi Coin.

Pi Network’s Applications and Scalability

Pi Network is not just a cryptocurrency but also functions as a platform for decentralized applications (dApps). Users can access these applications or use services by using Pi Coin. Through this strategy, Pi Network aims to establish a unique position.

Changes in Mining Rate and Their Impact

Based on past official announcements, Pi Network’s mining rate has gradually decreased and is currently adjusted to a very low level (the specific figure is not officially updated as of March 2025, estimated to be around 0.0029 Pi/hr). This is a strategy to limit the supply of Pi Coin and maintain its value.

Demand and Supply Dynamics

If supply is limited and demand is maintained or increases, an increase in value is expected based on economic principles. Also, some reports suggest that the circulating supply is decreasing, indicating that users may be holding onto their Pi Coin more strongly.

Current Market Status of Pi Network

Pi Coin has attracted attention in the market after the launch of the Open Network. For example, as of March 15, the estimated price was reported to be around $1.67 on some exchanges, with analysis suggesting a 13.89% increase in the past 24 hours. The market capitalization is approaching approximately 12 billion dollars, and some market voices claim a 143.58% increase in trading volume (however, official data is unconfirmed). Binance has not made any official announcement regarding the listing of Pi Network at this time, and the listing confirmation expected by some in the community on Pi Day did not materialize.

Comparison of Pi Network with Other Cryptocurrencies

Comparison with Bitcoin

Bitcoin is often used as “digital gold” for investment and value storage, but its utility is limited. On the other hand, Pi Network focuses on building an ecosystem that promotes daily use.

Comparison with Ethereum

Ethereum is excellent as a platform for smart contracts and dApps, but high gas fees are a challenge. Pi Network prioritizes accessibility and ease of use, designed for general users.

Future Outlook for Pi Network

Positioning in Web3

Through the “.pi” domain, Pi Network aims to establish itself as a foundational infrastructure provider in the Web3 world. There is a possibility that future Web3 projects will be built on Pi Network, and the expansion of the ecosystem is expected.

Community Growth

As of March 2025, according to official announcements, Pi Network has grown into a community with over 60 million Pioneers, over 19 million KYC-verified users, and over 12 million Mainnet migrated users. This large community supports the value of Pi.

Relationship with Exchanges

Pi Coin is already listed on some exchanges, but if it is listed on more major exchanges in the future, its recognition and value may further increase. However, the true value of Pi Network lies in the utility of its ecosystem, not just the trading price.

Summary: Pi Network Shows New Possibilities for Cryptocurrency

Pi Network’s announcement on March 14 demonstrated new possibilities in the world of cryptocurrency. As a cryptocurrency with a practical ecosystem, not just a speculative asset, Pi Network is promoting adoption and increased usage. To summarize the key points:

  • Pi Network introduces the “.pi” domain, providing foundational infrastructure for Web3
  • Decreasing mining rate potentially increases the scarcity of Pi Coin
  • March 14 was the final deadline for Mainnet migration, PiFest starts from March 15
  • Focus on utility and ecosystem building
  • Large community of over 60 million Pioneers
  • Unique approach promoting general user adoption

The world of cryptocurrency is constantly changing, but Pi Network is building a unique position by focusing on utility and accessibility. Future developments are worth watching.

Pi Network Complete Guide: Layer 1 Blockchain Mechanism and Future Potential

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近年、仮想通貨市場では革新的なプロジェクトが次々と登場していますが、その中でも特に注目を集めているのがPi Network（パイネットワーク）です。スマートフォンだけで簡単にマイニングができるという画期的なアプローチで、世界中の多くのユーザーを魅了しています。本記事では、Pi Networkの基本概念から最新の開発状況、そして将来の可能性まで詳しく解説します。

What is Pi Network? Basic Concepts and Features

In recent years, innovative projects have been emerging one after another in the cryptocurrency market, and among them, Pi Network is attracting particular attention. With its groundbreaking approach that allows easy mining using only a smartphone, it has captivated many users worldwide. This article will explain in detail everything from the basic concepts of Pi Network to its latest development status and future potential.

What is Pi Network? Basic Concepts and Features

Pi Network is a Layer 1 blockchain project founded in 2019 by Nicolas Kokkalis and Chengdiao Fan, both PhDs from Stanford University. Unlike traditional cryptocurrencies such as Bitcoin, its biggest feature is that anyone can easily mine the digital currency “Pi” through a smartphone app, without requiring expensive mining equipment.

The mining method is also very simple: just open the app daily and tap a button. This ease of use is a major factor attracting many users. Some users even claim to hold over 5,000 Pi tokens.

An important point is that while Pi Network was initially designed referencing the Stellar Consensus Protocol (SCP), it has now completely migrated to its own blockchain. This allows it to function as a complete Layer 1 blockchain with an independent network, consensus mechanism, and native token. It is establishing a position similar to other major Layer 1 blockchains such as BNB (Binance), Ethereum, Solana, and Tron.

Technical Features of Pi Network

  • Layer 1 blockchain similar to Ethereum, Binance, Solana, Tron, etc.
  • Adopts the Byzantine Fault Tolerance (BFT) consensus mechanism
  • Supports the development of smart contracts and decentralized applications (dApps)
  • Mobile-centric blockchain technology
  • Energy-efficient mining system
  • Ensures security through a large-scale KYC (Know Your Customer) solution

Token Supply Model

Pi Network adopts a negative exponential declining supply model. This means that as more users join the network, the mining rate decreases over time. This approach allows for proper management of the token supply while rewarding early participants.

As a Layer 1 blockchain, Pi Network has the flexibility to design and manage its own economic model and tokenomics, and aims for community-driven governance in the future. This means that unlike projects that rely on other networks like Ethereum, it can independently set network fees, mining incentives, and reward structures without external constraints.

Pi Network as a Layer 1 Blockchain

A Layer 1 blockchain refers to a foundational layer that has its own infrastructure and operates independently of external blockchains. As an independent Layer 1 blockchain, Pi Network provides the following functionalities:

  • Native Smart Contracts: Developers can build smart contracts that run directly on the Pi Network blockchain
  • Decentralized Applications (dApps): Various applications such as DeFi platforms, marketplaces, games, and NFT projects can be developed
  • Secure and Efficient Peer-to-Peer Transactions: Direct transactions between users are possible without intermediaries, and global remittances can be achieved with minimal fees
  • On-Chain Governance and Decentralization: In the future, it will be possible to implement on-chain governance where Pi Pioneers (users) can vote on proposals

Notably, Pi Network currently operates with a large number of nodes and aims for an open structure where companies and individuals can add nodes in the future.

Deep Dive into Layer 1 Networks and Comparison with Other Currencies

To understand Pi Network’s goal of becoming a Layer 1 blockchain, a comparison with other major Layer 1 networks is useful. Here, we compare Pi Network with representative Layer 1 blockchains such as Bitcoin, Ethereum, and Solana, clarifying their respective characteristics and advantages.

Comparison with Bitcoin: Security and Accessibility

Bitcoin is a pioneer of Layer 1 blockchains, characterized by high security and decentralization through Proof of Work (PoW). However, its scalability is limited, processing only about 4-7 transactions per second (TPS). Furthermore, mining requires expensive specialized equipment and large amounts of electricity, creating a high barrier to entry for general users. On the other hand, Pi Network enables mining on mobile devices and prioritizes energy efficiency, giving it an advantage in terms of accessibility for anyone to easily participate. In terms of security, Pi Network adopts Byzantine Fault Tolerance (BFT), which, while not as robust as Bitcoin, ensures the resilience of the decentralized network.

Comparison with Ethereum: Smart Contracts and User Base

Ethereum is known as the first Layer 1 blockchain to introduce smart contracts and is widely adopted as a development platform for decentralized applications (dApps). Although it transitioned to Proof of Stake (PoS) after “The Merge” in 2022, improving energy efficiency, the high gas fees (transaction fees) remain a challenge. The current TPS is said to be around 15-30, but fees surge when demand increases, becoming a burden for general users. In contrast, Pi Network supports smart contracts while aiming for low-cost transaction processing, differentiating itself particularly in accessibility targeting emerging markets and mobile users. However, it will take time to catch up to the massive developer community and ecosystem built by Ethereum.

Comparison with Solana: Scalability and Practicality

Solana is a Layer 1 blockchain known for its high processing speed, achieving a theoretical maximum of 65,000 TPS through its unique consensus combining Proof of History (PoH) and PoS. This scalability is highly regarded in DeFi and NFT projects, overwhelming others in practicality. However, Solana has experienced multiple network outages in the past, raising concerns about its stability. While Pi Network does not currently achieve the same high speed as Solana, it prioritizes a mobile-centric approach and stable operation, emphasizing user experience simplicity. Also, while Solana pursues high performance, Pi Network’s design is characterized by rewarding early participants through its token supply model while looking towards long-term growth.

Advantages of Pi Network as a Layer 1

The main advantages Pi Network has compared to other Layer 1 networks are as follows:

  • Improved Accessibility: Mining is possible with just a smartphone, requiring no specialized knowledge or expensive equipment, making it appealing to emerging markets and less tech-savvy demographics.
  • Energy Efficiency: Unlike Bitcoin and older Ethereum which use PoW, it can operate with low energy consumption, reducing environmental impact.
  • Community-Driven Growth: The negative exponential declining supply model incentivizes early participants while promoting network expansion. This has built a strong community base, with over 18 million KYC-verified users (as of January 2025) and growing.
  • Flexible Ecosystem: By supporting the development of smart contracts and dApps, it offers versatility similar to Ethereum and Solana while leveraging its unique mobile-friendly design.

On the other hand, Pi Network is still under development and faces challenges in reaching the ultra-high processing speed of Solana or the mature ecosystem of Ethereum. However, with its ease of use and inclusivity as strengths, its potential to attract general users is very high.

Pi Network Ecosystem and Features

Pi Network aims to build a comprehensive ecosystem, not just a cryptocurrency. On this platform, various functionalities and applications can be developed, such as:

  • Development of Decentralized Applications (dApps)
  • Decentralized Finance (DeFi) platforms
  • Marketplaces
  • Gaming platforms
  • NFT projects
  • Social networks for cryptocurrency users

Leveraging the characteristics of a Layer 1 blockchain, Pi Network is designed with a unique custom design to efficiently scale and handle large volumes of transactions as adoption grows. In the future, businesses such as e-commerce, fintech, and social media platforms may integrate Pi Network for payments and smart contracts.

Latest Development Status: Transition to Open Network

On February 20, 2025, after a long preparation period, Pi Network finally launched its Open Network mainnet. This signifies the transition from the “Enclosed Network” phase (a stage where external interactions were restricted) which had been ongoing since December 2021.

In the Open Network phase, the Pi Network blockchain will be able to connect with external networks, allowing users (called “Pioneers”) to conduct transactions outside the Pi ecosystem. This is expected to significantly expand real-world use cases.

Once the firewall is lifted, anyone will be able to operate a node on the mainnet blockchain. However, the Pi Network core team’s policy is to prioritize experienced users for the node migration process from testnet to mainnet. This process will be managed through the desktop node UI, prioritizing users with high reliability scores and consistent contributions. Node rankings are also planned to be publicly displayed.

As of January 2025, Pi Network has recorded over 18 million KYC-verified users, and this number is still increasing. Furthermore, the price of the Pi token has shown fluctuations after the Open Network transition, attracting attention.

Interoperability and Future Integrations

One of the important aspects of Pi Network as a Layer 1 blockchain is its ability to achieve interoperability with other blockchains in the future. The possibility of connecting with other blockchains such as Ethereum and Binance Smart Chain through bridges is being considered for the future.

This interoperability could enable:

  • Cross-chain transactions
  • Token swaps
  • Increased liquidity in the cryptocurrency market

This functionality is sometimes referred to as “Pi Bridge” or “Bridge Day” and represents partnerships outside the Pi Network ecosystem. This includes collaborations with other Layer 1 and Layer 2 blockchains.

Pi Network’s Potential and Concerns

Pi Network aims to become a practical currency used for real-world transactions and payments, but at the same time, there are skeptical views regarding its utility and value.

Expected Potential

  • Interoperability with other blockchains (Ethereum, Binance Smart Chain, etc.)
  • Realization of cross-chain transactions and token swaps
  • Independent management of economic model, monetary policy, and inflation rate
  • Utilization as a real-world currency rather than a speculative asset
  • Integration into e-commerce, fintech, and social media platforms

Concerns and Criticisms

  • Concerns regarding centralization
  • Lack of transparent tokenomics (token economy)
  • Uncertainty regarding true utility
  • Uncertainty regarding valuation relative to current market capitalization
  • Challenges regarding listing on major exchanges

Future Outlook for Pi Network

As a mobile-centric blockchain, Pi Network is suited to the modern financial system, which is increasingly digitized and mobile. The future of Pi Network largely depends on the growth of its ecosystem and real-world adoption.

Pi Network’s mobile-centric approach aligns with modern user behavior patterns. Today, it is commonplace for people to use smartphones to order food or purchase goods. Similarly, Pi Network has the potential to become a part of society and a tool that meets people’s daily needs.

Furthermore, Nicolas Kokkalis (Head of Technology and Co-founder of Pi Network) emphasizes the platform’s accessibility. According to him, Pi allows users to mine cryptocurrency for free on their mobile phones, bringing cryptocurrency to millions of people worldwide.

With large-scale partnerships and real-world adoption, Pi Network has the potential to become a significant player in the blockchain space. In the future, it may contribute to the evolution of the banking system, helping to build a more accessible financial system where people don’t have to queue at banks or wait in bad weather.

Conclusion: Is Pi Network Innovation or Overhyped?

Pi Network, as an independent Layer 1 blockchain, provides the foundation for a digital economy. This infrastructure enables decentralized applications, decentralized finance, secure transactions, governance, and global payments, while also allowing independent management of network growth and token supply.

With its innovative approach of mining cryptocurrency through mobile devices, it stands apart from traditional cryptocurrencies. Its technical foundation as a Layer 1 blockchain, growing ecosystem, and clear vision for real-world use suggest its future potential.

However, at the same time, challenges remain, such as the uncertainty regarding the transparency of tokenomics and true utility. Whether Pi Network becomes an innovative project or ends up as an overhyped experiment will be determined by future development and market reaction.

When considering cryptocurrency investments, it is always necessary to conduct sufficient research and make cautious judgments. While keeping an eye on the developments of Pi Network, let’s watch how the future of decentralized finance takes shape.

Pi Network’s Future: Pioneers, Developers, and Businesses Creating a New Economy

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As the cryptocurrency market evolves daily, Pi Network has taken a new step. This update highlights the three main roles: Pioneers, Developers, and Businesses, showing how each can contribute to the growth of the Pi ecosystem. This article will delve into the details and significance of this update.

Pioneers, Developers, Businesses: The Three Pillars

Pi Network is building its ecosystem around the following three types of participants:

  • Pioneers: Users who primarily continue mining activities. They are crucial to supporting the foundation of the Pi Network.
  • Developers: Technicians who build applications and utilities on the Pi blockchain.
  • Businesses: Companies that utilize the Pi blockchain for transactions and service provision.

These three groups cooperate to form a sustainable decentralized community.

Continued Mining and Its Importance

In many cryptocurrency projects, mining ends after the network launch. However, Pi Network is different. This policy maintains an environment where new users can easily join the network, promoting decentralization and improved security.

KYC and Security Measures: Efforts to Enhance Reliability

The KYC (Know Your Customer) process is essential to prevent fraudulent and deceptive activities. For example, a re-application option is provided to resolve issues caused by discrepancies between account names and identity verification information. This mechanism enables the creation of a safe and reliable ecosystem.

Open Network Launch and Its Impact

On February 20, 2025, Pi Network finally transitioned to the Open Network phase. The following changes are expected as a result of this transition:

  • Expansion of utility through connection with external blockchains
  • Improved reliability through KYC/KYB verified users and businesses
  • Increased market liquidity through collaboration with major exchanges

A special list is also provided for KYB-verified businesses, ensuring a safe and transparent trading environment.

Summary: The Path to the Future

This update is a significant step for Pi Network to grow as a sustainable decentralized economic zone. With the three pillars of Pioneers, Developers, and Businesses at the core, diverse participants are cooperating to form a new digital economic model.

Pi Network KYB Verification: Key to Business Participation on the Open Mainnet

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On February 20, 2025, at 8:00 AM (UTC), Pi Network finally launched its long-awaited Open Mainnet. This new phase expands the possibility of Pi Coin connecting with external systems and blockchain networks and being used in actual transactions. With this important transition, it is mandatory for businesses participating in the Open Network to undergoKYB (Know Your Business) Authenticationis mandatory.

What is KYB Authentication?

KYB is a process to verify the legal legitimacy of a business and prevent illegal activities such as fraud and money laundering. This authentication process includes:

  • Verification of basic information such as business name, address, and registration number
  • Verification of official documents such as certificates of incorporation and business licenses
  • Verification of financial history and information about business owners and administrators

Difference from KYC

KYC (Know Your Customer) is an authentication process for individuals, primarily using passports or ID cards to verify personal information. On the other hand, KYB is for legal entities and involves detailed verification including their financial structure and management system.

Why is KYB Authentication Necessary?

To maintain a safe and reliable ecosystem, Pi Network requires all businesses participating in the Open Network to undergo KYB authentication. This process enables the following:

  • Prevention of fraud and illegal activities
  • Building trust between users and partners
  • Smooth transactions within the Pi ecosystem

KYB Authentication Process and Fees

To undergo KYB authentication, you need to pay a verification service fee by a third-party organization of$89 (approx. 15,120 JPY, subject to change depending on exchange rates and fees). This fee is not collected directly by Pi Network but is used for payment to the third-party organization.

You can apply here.
https://minepi.com/kyb-business-pi/

Benefits Obtained After KYB Authentication

Upon successful KYB authentication, you will gain the following benefits:

  • Obtain formal eligibility to participate in the Pi ecosystem
  • Gain access to the Pi Mainnet Wallet
  • Secure transaction opportunities with millions of KYC-verified users

Expected Impact After Open Mainnet Launch

With the Open Mainnet, Pi Coin will be able to connect with external systems and other blockchains. This will enable the following:

  • Expansion of real-world transaction usage
  • Creation of new business models and use cases
  • Improvement in Pi Coin price and adoption rate

Summary

KYB authentication is a mandatory requirement for businesses wishing to participate in the Pi Network ecosystem. This not only ensures safety and reliability but also opens the door to new digital economic activities. After the Open Mainnet launch, many companies and users are expected to actively participate in this ecosystem.

Apply for KYB authentication now and take the first step towards future economic activities!

Pi Network’s GCV Controversy: Is $314,159 Real or an Illusion?

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Pi Network is attracting attention in the world of cryptocurrency. Among them, what is particularly controversial is the concept called Global Consensus Value (GCV). Some community members set the value of one Pi coin at an astonishing $314,159, but is this valuation realistic? This article explains in detail the background of GCV, the current state of the Pi Network ecosystem, and future prospects.

What is Pi Network?

Pi Network is a cryptocurrency project founded in 2019 by a team from Stanford University. It features energy-efficient mining using smartphones, and its appeal lies in its easy participation mechanism for anyone. Currently, over 65 million users are participating, and its scale is rapidly expanding.

Overview of GCV (Global Consensus Value)

GCV is a value standard proposed by some Pi Network communities, valuing 1 Pi coin at $314,159. This number is derived from the mathematical constant π (3.14) and holds symbolic meaning within the community. However, this valuation is not officially recognized and is criticized as unrealistic by many experts and users.

Arguments of GCV Supporters

  • Provides reliability and stability by setting value through community leadership.
  • Functions as a unified transaction standard within the ecosystem.
  • Potential for value increase in the future as the supply and demand balance of Pi coin is established.

Criticisms and Challenges

  • Large discrepancy from the actual transaction price because it is not based on market economics.
  • Applicable only within the closed network, so the impact after migrating to the open network is unknown.
  • Excessive expectations by some users may mislead new participants.

Key Components of the Pi Network Ecosystem

Pi Network is not just a cryptocurrency; it is building a diverse ecosystem. The following are its key components:

1. Pi Nexus

Pi Nexus is a platform that provides interoperability between Pi Network and external applications. This allows users to utilize Pi tokens even outside the mainnet.

2. Pi Finance

Pi Finance is a project aiming to integrate with traditional and modern financial services, supporting asset management and transactions.

Migration to Open Network and Its Impact

Currently, Pi Network is in the closed network phase. In this phase, transactions are only possible within the internal ecosystem, but a migration to an open network is planned. This migration will enable free trading in the market, and the actual market value will be formed.

Conclusion: Is GCV an Illusion?

While the GCV of $314,159 holds symbolic meaning, it is questioned by many experts and users because it is not based on market economics or realistic supply and demand balance. On the other hand, it is also true that this discussion itself promotes active community participation and ecosystem growth. Ultimately, after the migration to the open network, the market will determine the true value.