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Pi Network: Will it Replicate Bitcoin’s Success or End in Failure? 2025 Full Analysis

On February 20, 2025, the Pi Network officially launched its long-awaited open mainnet after six years. This milestone made it possible to transfer Pi coins to external wallets and made listings on major exchanges and the deployment of decentralized applications (DApps) a reality. Boasting over 60 million users (Pioneers), this project is expected to have the potential to replicate historical successes like Bitcoin. However, numerous challenges have emerged, such as a sharp price drop immediately after launch, KYC issues, and criticisms of centralization, leading to increased skepticism. This article will analyze the technical characteristics, market reaction, price trends, and long-term outlook of the Pi Network in detail, exploring its future potential from multiple angles. Will it be the second coming of Bitcoin, or will it end in failure? We will provide a thorough explanation from the latest perspective in 2025.

What is Pi Network? Project Origins and Vision

Pi Network is a cryptocurrency project launched in 2019 by Dr. Nicolas Kokkalis and others from Stanford University. Unlike Proof-of-Work (PoW) like Bitcoin and Ethereum, it adopts the energy-efficient Stellar Consensus Protocol (SCP), enabling easy mining on smartphones. Its goal is to “make cryptocurrency accessible to everyone and build a global digital economy.” As of February 2025, it has gained over 60M+ users and its followers on X exceed 3.7 million, growing to a scale surpassing Ethereum. The launch of the open mainnet is a crucial step in realizing this vision.

Significance of the Open Mainnet: What Has Changed?

The open mainnet signifies Pi Network’s transition from a closed ecosystem to an open and interoperable blockchain. In the previous “Enclosed Mainnet” (launched in December 2021), transactions were limited internally, but with the launch of the open mainnet on February 20, 2025, at 8:00 UTC, the following transformations have been realized.

External Connectivity: Pioneers can now move Pi coins to external wallets. For example, transfers to MetaMask and Trust Wallet are now allowed.
Exchange Listings: OKX and Bitget started trading the Pi/USDT pair on February 20. With rumors of a Binance listing, liquidity has dramatically improved.
DApp Deployment: Decentralized application development is accelerating, with marketplaces and games utilizing Pi scheduled to appear one after another.
Node Opening: Anyone can now operate a node, marking the first step towards true decentralization.

Impact: This has evolved Pi from just a “free mining app” into a practical cryptocurrency. Adoption in e-commerce and P2P payments is anticipated.

Price Trends and Market Reaction: The Sharp Drop Immediately After Launch and Its Background

Immediately after the open mainnet launch, the Pi coin price showed dramatic fluctuations. While it plummeted from $2 at launch to $0.76 in just a few days, the 24-hour trading volume exceeded $100 million (as of February 22). This movement reflects the market sentiment where expectations and anxieties are intertwined.

Factors Behind the Price Drop: Three Core Reasons

KYC Issues: While 19 million people have completed KYC verification, there are many unverified users, and Pioneers who failed to migrate their mining rewards increased selling pressure.
Centralization Criticism: Nodes are managed by the Pi Core Team, raising questions about the stated principle of being “decentralized.” Bybit CEO Ben Zhou publicly expressed “fraud concerns” and refused to list it.
Scandals and Trustworthiness: Past IOU trading scams and repeated Mainnet delays have become a trauma, making some investors skeptical. On X, there were also voices saying “shorts will be squeezed.”

Market Reaction: Both Positive and Negative Extremes

Positive: Initial demand was strong, such as a 70% surge immediately after the OKX listing ($50→$90) before settling at $80. The community’s enthusiasm served as support.
Negative: Increased volatility after the sharp drop led speculators to engage in short-term trading, giving an impression of lacking stability.

Data Perspective: According to CoinGecko’s assumption, the circulating supply is 550 million coins (unlocked portion) against a total supply of 100 billion coins. The current market cap is about $500 million, but the dilution risk upon full circulation is a concern.

Is the $10 Target Price Realistic? Possibilities and Obstacles

Some members of the Pi community dream of reaching “$10” and are engaging in heated discussions on social media. We will examine the basis and realism of this goal.

Factors for Rise: The Path to $10

Large User Base: 60M+ Pioneers are an asset unmatched by other cryptocurrencies. If practicality is proven, demand will surge.
Expanded Exchange Listings: If Binance or Coinbase list it, liquidity and credibility will improve, bringing $10+ within sight.
Token Burn Strategy: Burn (destroy) unverified Pi to reduce supply. If the supply-demand balance improves, it will boost the price increase.
E-commerce Adoption: If achievements at PiFest and rumors of partnership with Amazon materialize, real demand will push up the price.

Obstacles: The $10 Wall

Supply Glut Risk: If the total supply of 100 billion coins fully circulates, a market cap of $100 billion (at $10) would be required. This is unrealistic compared to the current total crypto market cap of $3.3T.
Competition: Alternatives like Solana and Polygon, which are fast and low-cost, exist, potentially diluting Pi’s uniqueness.
Regulatory Pressure: Mobile mining and KYC are subject to scrutiny by authorities. Risk of stricter regulations in the US and China.

Prediction: Reaching $10 in the short term (within 2025) is difficult, but the $2-$5 range is realistic. In the long term, exceeding $10 is not a dream depending on adoption, but overcoming challenges is a prerequisite.

Long-Term Outlook: Second Coming of Bitcoin or a Failed Project?

While Pi Network aims for historical success like Bitcoin, the possibility of it ending in failure is also pointed out. We will analyze both scenarios.

Success Scenario: Replicating Bitcoin

Accessibility: Mobile mining accelerates adoption in emerging countries. Support is expanding in India, Vietnam, and South Korea.
Ecosystem Growth: Success of DApps and marketplaces makes Pi a “daily currency.” Goal of 100 apps by the end of 2025.
Community Strength: The unity of 60M users is reminiscent of Bitcoin’s early grassroots movement.

Failure Scenario: An Anticlimactic End

Loss of Trust: Users leave due to centralized operation and lack of transparency. X posts also mention “low selling pressure but concern about being forgotten.”
Lack of Practicality: If DApps are disappointing, it will end up as a speculative asset and its value will approach zero.
Defeat in Competition: Buried among major cryptocurrencies, it will only survive in a niche market.

Moderate Scenario: Even if explosive success like Bitcoin is difficult, there is a possibility of establishing a position as a mid-tier cryptocurrency (e.g., similar to XRP or ADA).

Future Challenges: The Path to Success

For Pi Network to succeed, it must overcome the following challenges.

Improvement of KYC Process: Urgent need for relief measures and acceleration for unverified users. Increase verification rate to alleviate selling pressure.
Transition to Decentralized Management: Open node operation to the community to dispel centralization criticism.
Regulatory Compliance and Trust Improvement: Ensure legal transparency and gain the trust of governments and investors.
Proof of Practicality: Establish concrete use cases in e-commerce and payments early on.

Suggestion: The Pi Core Team should enhance transparency through roadmap publication and AMA (Ask Me Anything).

Investment Scenarios: Price Predictions for 2025-2030

Based on market data and expert opinions, we present price scenarios for Pi coin. These are merely predictions and depend on various factors.

2025

Optimistic: $5-$10 (with expanded exchange listings and accelerated adoption)
Realistic: $1-$3 (after stabilization and volatility convergence)
Pessimistic: Below $0.20 (due to loss of trust and selling rush)

2030

Optimistic: $50-$100 (establishing status as a global currency)
Realistic: $10-$20 (settling as a mid-tier cryptocurrency)
Pessimistic: Below $1 (due to project stagnation)

Note: Compared to Bitcoin’s $96K (as of February 2025), Pi has significant growth potential, but the risks are proportional.

Conclusion: Predicting the Future of Pi Network

Pi Network has taken a significant step with the launch of its open mainnet. Its 60 million strong community and unique mobile mining approach provide a foundation worthy of dreaming of success like Bitcoin. However, if it fails to overcome hurdles such as KYC issues, centralization criticism, and proving practicality, the path to failure becomes visible. 2025 will be a crucial year, testing its transparency and execution capabilities. How do you see the future of Pi? Share your thoughts in the comments!

*This article is based on information as of February 23, 2025. Cryptocurrency investments involve volatility risks, so please make decisions at your own discretion.

The Future of Pi Network: The Revolution Brought by the Open Mainnet Launch

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The Open Mainnet Day will be a historic day for blockchain enthusiasts around the world. This is the day when the Pi Network officially launches its Open Mainnet. This groundbreaking event is not just a technical upgrade, but signifies the dawn of a new era for blockchain technology.

What is the Open Mainnet?

The Open Mainnet means that the Pi Network will become fully decentralized. This allows users to process transactions without the need for a centralized intermediary. In other words, an environment where you have complete control over your assets will be established.

Benefits of Decentralization

Fast and secure transactions without intermediaries
Users have complete control over their assets
Reduced transaction costs

Integration with Global Blockchain

The Pi Network aims to integrate from its previously independent system into the global blockchain ecosystem. This integration opens up possibilities such as:

Easier application development
More efficient asset trading
Building business models based on Pi

Success as a Community-Driven Project

The Pi Network is built not only on its technology but also on the support of its community. Currently, over 60 million ‘Pioneers’ worldwide are participating in this project, each playing a crucial role.

“We are building more than just technology. It is a platform for people to collaborate and redefine the digital economy.”— Pi Network Founder

The Power of the Community

Pioneers are not just users. They are developers, ambassadors, and crucial entities shaping the entire ecosystem. It is this collective effort that sets the project apart.

Towards the Future of Blockchain Technology

The Open Mainnet is the first step towards creating a new digital economy. This will prove Pi’s value not just as a cryptocurrency, but as a usable asset.

Expected Changes

Utilization for purchasing goods and services
Accessibility-focused economic participation model
Transition to an inclusive and equitable digital economy

Conclusion: Preparing for a New Era

The Open Mainnet launch is not just a technical advancement. It is a moment that brings new possibilities and challenges. The Pi Network and its community are ready to embrace this historic moment.

Will you also participate in this transformation? Now is the time to open the door to a new digital economy.

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 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!

2025 Pi Network: The Dawn of Open Mainnet and Next-Generation Finance

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Pi Network is moving forward with plans to launch its open mainnet in early 2025, with February 20 decided as the date. This groundbreaking event will be a significant step towards ushering in a new era of decentralized finance (DeFi).

Achieving 10 Million Migrations and the Significance of the Open Mainnet

As of February 10, 2025, Pi Network has reached its migration goal of 10 million users to the mainnet. This milestone fulfills a condition for the open mainnet launch and is crucial for ensuring the project’s stability and inclusivity.

The open mainnet will free users from the constraints of banks and governments, enabling fast and seamless transactions. Furthermore, Pi Coin is expected to maintain a stable value, positioning it as a practical currency suitable for everyday use.

Technological Innovation and Economic Impact

The open mainnet is predicted to bring about the following technological innovations and economic impacts:

Instant Cross-Border Transactions: Transactions across borders will occur instantly, potentially bypassing country-specific financial regulations.
Elimination of Intermediaries: Direct transactions between businesses and individuals will be possible, removing intermediaries like banks and credit card companies.
Stable Currency Value: Pi Coin will maintain a stable value, offering practicality different from Bitcoin or Ethereum.

Global Events and Future Roadmap

On Pi Day, March 14, 2025, Pi Network’s 6th-anniversary event is scheduled. This event will unveil a new roadmap, and large-scale community gatherings and online conferences are planned worldwide.

The roadmap will include static goals for the next 5-10 years and is expected to outline plans for partnerships with developers and the introduction of blockchain-based payment applications.

Importance of KYC and Migration Process

Pi Network emphasizes inclusivity and has extended the deadline for many users to complete the KYC (Know Your Customer) process and mainnet migration. This allows more users to participate in the open mainnet and utilize their Pi Coins.

Conclusion: Will 2025 Be a Year of Financial Paradigm Shift?

If Pi Network successfully launches its open mainnet as planned and continues to expand its ecosystem, it will be a historic declaration challenging traditional financial institutions. 2025 has the potential to be a turning point in the economic landscape.

Let’s continue to watch for the latest updates and see how this innovative project evolves.

Pi Network Open Mainnet Launch in 2025! List of Expected Listing Exchanges

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A historic moment in the cryptocurrency industry is fast approaching. Pi Network has announced the official launch of its open mainnet on February 20, 2025, at 8:00 AM (UTC). This transition will evolve the Pi Network into a fully decentralized ecosystem, enabling external integration and real-world use.

What is the Open Mainnet?

Until now, the Pi Network has operated within a closed ecosystem, preventing users from moving Pi tokens to external wallets or exchanges. However, with the launch of the open mainnet, Pi Coin will be able to interact with external blockchains and exchanges as an independent cryptocurrency.

This new phase is expected to bring a wide range of real-world use cases, including e-commerce, remittances, and peer-to-peer transactions. Integration with other blockchains such as Ethereum and Binance Smart Chain will also become possible.

Below is information from the official announcement pages of major exchanges regarding their handling of Pi Network (PI Coin). Each page provides detailed explanations of the trading start date, trading pairs, and procedures after listing.

Official Announcement Information for Major Exchanges

OKX OKX has announced that spot trading for Pi Network token (PI) will begin on February 20, 2025. The trading pair will be PI/USDT, and details can be found on the official announcement page. Announcement page: https://www.okx.com/learn/when-will-pi-network-launch-tradinghttps://www.okx.com/press
MEXC MEXC has announced in its official news that trading for the PI/USDT pair will begin on February 20, 2025. Further information can be found on the official website. Announcement page: https://www.mexc.com/ja-JP/support/articles/17827791521948https://www.mexc.com/news
Bitget Bitget has announced the start of trading for the PI/USDT pair from February 20, 2025, at 8:00 AM (UTC) on its official blog. Please refer to the blog post for detailed trading conditions. Announcement page: https://www.bitget.com/news/detail/12560604567529https://www.bitget.com/ja/news
Gate.io Gate.io has announced the listing of PI Coin in conjunction with the launch of the Pi Network’s open mainnet. Details such as the future trading start date are published in the official news section.
Bitrue Bitrue has officially announced the start of PI token trading from February 20, 2025. Trading conditions and other details are clearly stated in the official news section.
Pionex Pionex has clearly stated in its official announcement that PI/USDT trading will begin on February 20, 2025. Detailed information can be found on the news page of the official website.

Summary

By checking the official announcement pages of each exchange, you can quickly grasp the latest trading start information, trading pairs, and trading conditions. With increased liquidity and demand after listing, the market trend of PI Coin is attracting attention. Investors and users should regularly check each official website and strive to gather the latest information.

Binance and Other Major Exchange Trends

There are no official announcements yet from major exchanges such as Binance and Coinbase. However, listing on major exchanges is expected after the Pi Network’s open mainnet launch. Meanwhile, HTX (formerly Huobi) has ended Pi IOU trading and is reportedly preparing for the listing of genuine Pi tokens.

KYC and Mainnet Migration: Important Steps

Over 19 million users have completed the KYC process, and over 10.14 million of them have already migrated to the mainnet. Users who have not completed KYC are recommended to complete the procedure by February 28, 2025.

Summary: Future Expectations and Precautions

The launch of the Pi Network’s open mainnet and listing on multiple exchanges will have a significant impact on the entire cryptocurrency industry.

Complete the KYC procedure and prepare to participate in this new financial ecosystem! It is important to make strategic investment decisions while carefully monitoring market trends.

*This article is for informational purposes only and does not constitute investment advice. Please make investment decisions at your own discretion.

Pi Network’s Open Mainnet and OKX Listing: A New Era for Cryptocurrency That Will Change the Future

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February 20, 2025, marks a historic moment for the cryptocurrency industry. The Pi Network will finally launch its open mainnet, and its listing on the OKX exchange has been decided. This move is a significant step for the Pi Network to transition from a closed environment to full blockchain integration, offering broader utility.

Pi Network Listing Scheduled?: A Thorough Explanation of the Article Posted by OKX and Future Prospects

What is Pi Network?

The Pi Network is gaining attention as a unique project that allows users to mine cryptocurrency using mobile devices. Over 60 million users have participated so far, with 19 million having completed KYC (Know Your Customer) verification. This project aims to build an entire ecosystem, not just a cryptocurrency.

Details of the OKX Listing

OKX will be the first major exchange to support trading of the Pi token. The key dates are as follows:

February 12, 2025: Deposits begin
February 20, 2025: Call auction (7:00-8:00 UTC) and spot trading begins (8:00 UTC)
February 21, 2025: Withdrawals begin

Some trading restrictions will be introduced on OKX. For example, market orders are prohibited for the first 5 minutes, and single trades cannot exceed $10,000. Specific rules will also apply during the call auction to ensure price stability.

What is OKX Exchange?

OKX is a global cryptocurrency exchange founded in 2017 and based in Seychelles. It supports over 350 cryptocurrencies, including Bitcoin and Ethereum, and more than 500 trading pairs, catering to a wide range of traders from beginners to advanced users.

Key features of OKX include:

Diverse Trading Options: Spot trading, margin trading, futures, options trading, etc.
Advanced Tools: Offers automated trading bots and a Web3 wallet.
Low Fees: Maker fees at 0.08% and taker fees at 0.10%, below the industry average.
High Security: Cold wallet storage, multi-factor authentication (MFA), and anti-phishing measures.

Japanese Users and OKX

Unfortunately, OKX services are not available in Japan. However, the listing of the Pi token on OKX is a significant event that will greatly enhance the global appeal of the Pi Network.

Benefits of OKX Listing for Pi Network

The listing of the Pi token on OKX is expected to bring the following advantages:

Increased Global Liquidity: Traders worldwide will be able to trade Pi tokens, increasing market recognition.
Enhanced Credibility: Listing on a major exchange serves as validation of the project’s credibility.
Contribution to dApps and Ecosystem Expansion: An environment will be created where dApp developers and businesses can more easily utilize Pi tokens.

“The listing on OKX is a crucial step for the Pi Network to move to its next phase of growth.”

Although not directly available in Japan, this listing will be a catalyst for the global spread of the Pi Network and the opening of new possibilities. This is expected to further increase interest in the Pi Network and lead to future expansion of use cases.

Expectations for Binance Listing

Currently, many people are anticipating a listing on Binance. Binance is one of the world’s largest cryptocurrency exchanges, and if Pi were to be listed there, liquidity and recognition are predicted to increase dramatically. While there has been no official announcement yet, there are rumors of informal discussions ongoing between the Pi Network and Binance.

Possibilities Brought by the Open Mainnet

With the launch of the open mainnet, the Pi token will offer new use cases such as:

Real-World Transactions: Can be used as a legitimate payment method in businesses and services.
dApp Integration: dApp developers can build decentralized applications utilizing Pi.
Mass Adoption: Potential to be widely accepted, similar to Bitcoin and Ethereum.

Token Supply and Sustainability

The circulating supply of Pi tokens is 6.41 billion, with a total supply of 9.29 billion. This carefully managed supply model is designed to prevent excessive inflation while allowing for gradual growth.

Future Challenges and Outlook

While the Pi Network has many possibilities, challenges remain. Issues particularly related to security, scalability, and regulatory compliance need to be addressed. However, the project is expected to see further growth through increased adoption by developers and businesses.

Summary

The Pi Network is about to open the door to a new era. The listing on OKX and the launch of the open mainnet are significant steps for this project to move to the next stage. The future of this cryptocurrency project will be shaped in the coming weeks.

Pioneers, this journey has just begun. Let’s keep watching!

Pi Network: Microtransactions and the Future of the Decentralized Economy

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近年、暗号通貨は急速に進化し、多くの注目を集めています。その中でもPiネットワークは特異な存在感を放っています。本記事では、Piネットワークの特徴、目標、および現在進行中の取り組みについて詳しく解説します。

What is the ‘Within 18 Months’ Migration Plan?

Piネットワークは2025年第1四半期中にオープンメインネットへの移行を予定しています。この計画には以下が含まれます：

KYC Process: All users must complete the identity verification process. To date, 18 million people have completed it.
Mainnet Migration: Over 10 million people have already migrated, and millions more are in the process of migrating.
dApps Preparation: Over 100 applications running

These steps are crucial for building a comprehensive and stable ecosystem. Pi Network has setFebruary 20, 2025as the official launch date, and expectations among users and developers are high.

Microtransactions: Opening the Door to New Possibilities

One of the main goals of the Pi Network is to realize ‘microtransactions’. This is a system that allows small transactions and payments to be made quickly at low cost, and it is key to building a new digital economy.

What are Microtransactions?

Microtransactions refer to small monetary transactions conducted online or within apps. They have the following characteristics:

Low Cost: While traditional payment systems can impose high fees, Pi Network’s fees are very low, making it practical even for small payments.
Fast Transactions: By utilizing blockchain technology, fast transaction processing is possible.
Diverse Use Cases: A wide range of applications are possible, including subscription services, tips for content creators, and small remittances.

Innovation by Pi Network

According to Dr. Nicolas Kokkalis, Pi Network functions as ‘smart money’ and offers the following new possibilities:

Micro-Escrow: A mechanism to improve safety and reliability in small transactions.
Strengthening Community Economies: Creating new income sources and economic activities in developing regions and areas lacking financial services.
P2P Transactions: A platform where users can directly exchange goods and services.

dApps Ecosystem and Existing Transaction Examples

dApps (decentralized applications) are a crucial element of the Pi Network ecosystem. Over 100 are expected to be operational at launch. This will further enhance utility and value.

Furthermore, there are already transaction examples such as the following:

Physical Stores: Available for use in restaurants and retail stores in countries like Vietnam and the Philippines.
Online Services: Includes a wide range of services such as web hosting and digital content purchases.
P2P Marketplace: The exchange of goods and services between users is also becoming active.

Summary: Expectations for the Future

Pi Network is not just a cryptocurrency project, but a challenge to build a new economic zone. The improvement in practicality through microtransactions and decentralized applications, in particular, offers new possibilities to many users and developers. Its future progress will be worth watching.

*This article is for informational purposes only and is not investment advice.*

Innovations of Protocol Version 19 and Their Impact

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Pi Network has announced an upgrade to Protocol 19, in preparation for the open mainnet launch scheduled for the first quarter of 2025. This update is a significant step that will substantially improve the network’s scalability, transaction speed, and security.

Key Features of Protocol 19

Layer 2 Solution: Improves transaction speed and enhances network scalability.
Low Transaction Fees: Transaction fees are reduced to 0.00001 Pi, making digital payments more affordable.
Bridge Functionality: Enables interoperability with other blockchains, allowing for cross-chain transactions.
Enhanced Security: Increases safety and optimizes the user experience.

Improved Transaction Speed and Scalability with Layer 2 Solution

Protocol 19 introduces Layer 2 technology, allowing the network to handle a higher volume of transactions. This technology reduces congestion and lowers transaction costs. As a result, Pi Network becomes a platform that millions of users can utilize smoothly.

Low Transaction Fees Make Everyday Use Easy

With the new fee structure, the transaction fee for a single transaction is just 0.00001 Pi, allowing users to perform transactions almost for free. This change is also suitable for small payments and peer-to-peer transfers.

Bridge Functionality Enables Cross-Chain Transactions

The newly introduced bridge functionality allows Pi Network to connect seamlessly with other blockchains. This improves liquidity and integration across diverse ecosystems, enabling users to utilize Pi coins for a wider range of applications.

Preparation for Open Mainnet

This upgrade is a crucial step for Pi Network’s transition to a fully decentralized blockchain ecosystem. Starting February 20th, the open mainnet will enable the following:

Direct transactions on the blockchain
Hosting of dApps (decentralized applications)
Automation and complex contract management via smart contracts

Impact on the Pi Network Community

Currently, Pi Network has over 60 million users, with more than 20 million having completed KYC (Know Your Customer). The transition to the open mainnet opens new avenues for this large community to use Pi coins in the real world.

KYC and Mainnet Migration Period

The KYC deadline has been extended until February 28, 2025. If KYC is not completed by this deadline, Pi coins mined before this period may be lost. Users are strongly encouraged to complete the KYC process promptly.

Summary

The upgrade to Protocol 19 serves as a vital foundation for Pi Network’s growth as a next-generation digital currency. By enabling fast, secure, and low-cost transactions and providing an ecosystem usable for various purposes, Pi Network will establish a unique position in the cryptocurrency market.

“This latest update is a groundbreaking improvement that optimizes performance, security, and user experience.”

The open mainnet launch is just around the corner. Don’t miss out on the latest information and become a part of this revolutionary project.

Migration Accounts in Closed Domain Network Surpass 10 Million! What’s Next?

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As of February 2025, the Pi Network has surpassed 10 million migrated accounts in the Closed Mainnet phase. This significant development allows users who have passed KYC (Know Your Customer) to use the Pi coins migrated to their wallets for transactions and bartering.

What is the Closed Mainnet?

The Closed Mainnet is a crucial phase in the evolution of the Pi Network. In this stage, while full connection with external networks is restricted, transactions between users and activities within the ecosystem are possible. This is gradually increasing the utility and reliability of Pi coins.

Migrated Accounts Exceed 10 Million

According to Pi Network data, the number of migrated accounts has reached 10,001,307. This figure includes accounts from the Core Team. Furthermore, the number of general user accounts, referred to as ‘Pioneers’, is reported to be approximately 9 million.

KYC Passage and Migration to Wallet

Users who have passed KYC can migrate their Pi coins to their wallets and subsequently use them for transactions and within the ecosystem. This is invigorating economic activity within the Pi Network.

Counting down since morning

https://x.com/nao_pinetwork/status/1887101394915856452

https://x.com/nao_pinetwork/status/1887088808664989977

https://x.com/nao_pinetwork/status/1886952186913206301

About ‘Locked Pi’ and ‘Unlocked Pi’

The following terms are used in the Pi Network:

Locked Pi: Coins that are locked on the blockchain for a certain period (e.g., 1 year, 2 years, 3 years).
Unlocked Pi: Coins that become available after the lock-up period ends.
Unclaimed Pi: May expire if not claimed within 1 year after being unlocked.

A point requiring particular attention is the risk of ‘Unclaimed Pi’ expiring. Users are encouraged to notify their referrals and members within their security circles and urge them to complete the claim process promptly.

Conditions for Open Mainnet

Currently, for the Pi Network to transition to the Open Mainnet, the following two conditions must be met:

Migration by users who have passed KYC.
100 practical Pi applications (currently 80).

By meeting these conditions, full connection with external networks will become possible, and the entire Pi ecosystem is expected to expand further.

Ecosystem and Future Outlook

As of now, over 198 million Pi coins have been locked, suggesting that many users are anticipating long-term value appreciation. Furthermore, efforts are underway within the ecosystem to achieve 100 practical applications.

As these developments show, the Pi Network is steadily growing and attracting attention from many users and developers. Let’s continue to check for updates and explore new possibilities.

Summary

In this article, we explained the latest information on the Pi Network, including the milestone of 10 million migrated accounts and details about ‘Locked Pi’ and ‘Unlocked Pi’. The conditions for transitioning to the Open Mainnet are also becoming clearer, generating much anticipation. Let’s continue to follow the latest information and watch this unique project!