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Pi Network Fraud Prevention Complete Guide: How to Build Safe Transactions and an Ecosystem

With the development of the Pi Network, fraudulent transactions and scams are increasing. This article explains safe transaction methods and the healthy development of the ecosystem in detail.

Main Scam Methods and Countermeasures

Currently, the following two main scam methods have been confirmed:

Scams offering to unlock locked coins
Scams buying coins at unfair prices

Locked Pi coins cannot be unlocked until the set period (2 weeks, 6 months, 1 year, 3 years) has passed. Absolutely do not respond to “unlock” proposals from external links or unknown contacts.

Future Development of Pi Network

According to Dr. Nicholas’s official announcement, the open network deployment is scheduled for the first quarter of 2025. If the goals set for this period are achieved, the firewall will be removed, and full-scale operation will begin.

Building a Healthy Ecosystem

To increase the value of the Pi Network, the following elements are important:

Proper balance between sellers and buyers
Establishment of a system for exchange with goods and services
Presence of long-term holders

Points to Note for Safe Transactions

Special attention must be paid to the following points:

Avoid clicking unknown links
Do not respond to transaction proposals from strangers
Do not be misled by information other than official announcements
Be wary of unusually high purchase offers

Summary

For the healthy development of the Pi Network, it is important for each community member to make careful judgments and act with a long-term perspective. Let’s participate in building a legitimate ecosystem without being misled by fraudulent transactions or scam proposals.

Pi Network: Latest News – Mainnet Migration Set for Q1 2025! Summary of KYC and Migration Status

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Pi Network has made an official announcement, and the long-awaited mainnet migration period has been decided as the first quarter (Q1) of 2025. This is a postponement from the initially planned migration period of the end of December 2024, but it is a decision made with consideration for more users to participate. Since it is not clear whether the first quarter of 2025 will be January-March or April-June, speculation is emerging. (I think it might be the former because it’s an American company. If so, March 14th?)

Summary of the official blog.
https://minepi.com/blog/open-network-update/

Current Progress

Regarding the current progress of Pi Network, the following important indicators have been released:

Number of users who completed KYC verification: Over 18 million
Number of users who completed mainnet migration: Over 8 million
Number of migrations processed per day: Approximately 200,000

Reason for Mainnet Migration Postponement

The main reasons for setting the migration period to Q1 2025 are as follows:

Reducing the gap between KYC verification and mainnet migration is an important task. Currently, there are over 10 million users who have completed KYC verification but have not yet completed mainnet migration.

Future Schedule

Pi Network has indicated the following timeline:

KYC application deadline: Extended until December 31, 2024
Mainnet migration target: 10 million users
Open Network launch: Q1 2025

Recommendations for Users

Current Pi Network users are recommended to take the following actions:

Promptly complete unfinished KYC verification
Check the requirements on the mainnet checklist
Complete the necessary migration procedures

Future Outlook

After the mainnet migration, the Pi Network ecosystem is expected to fully launch. The development team aims to build a platform that emphasizes stability and sustainability.

A particularly noteworthy point is how the listing on exchanges and partnerships with partner companies will unfold after the mainnet migration.

How Many Days Until Pi Network Opens? – Latest Updates on Wallet Development and Market Outlook

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A historical turning point for Pi Network is approaching. The start of the open network is said to be just a few dozen days away, and the countdown has begun. This article provides a detailed explanation of the latest development status of Pi Network and its future prospects.

Current Status and Evolution of the Cryptocurrency Market

The digital currency market has achieved significant growth, especially since the support from former President Trump. In countries like the UAE, the legalization of cryptocurrencies and the regulation of transactions are progressing, accelerating the transition to a digital economy.

Pi Network’s Value Formation Mechanism

Many people have questions about how Pi Network’s value is formed. However, this can be thought of using a principle similar to the value formation of gold. Gold also did not initially exist in the market, and its value was established through the balance of supply and demand.

Importance of Market Utility

A key feature of Pi Network is its “market utility,” which is integrated into actual economic activities. By having practical uses such as daily payments, bill settlements, and product purchases, natural demand is created. This envisions usage across the entire supply chain, from supermarkets to manufacturers and raw material suppliers.

New Developments in Wallet Development

The development team is proceeding with the development of a wallet with more comprehensive features. The new wallet will include:

Exchange functionality with other cryptocurrencies
Transaction system within the platform
Unique price formation mechanism

Future Outlook and Features

Pi Network aims to return to the origins of Bitcoin and build a more comprehensive economic system. It is designed as a currency that is easy for ordinary people to use, not just the wealthy.

Features of the Trading Platform

According to the development team’s announcement, Pi Network transactions are expected to occur only on its own platform with a 90% probability. This signifies the establishment of a new trading model that does not rely on traditional exchanges.

Importance of Pi Fest 2024

Pi Fest 2024 will be the final important event in the transition to the open network. After this event, the transition to the full open network phase is planned.

Furthermore, based on past experience with futures trading, the development team has indicated a policy to restrict unapproved transactions and maintain the platform’s integrity. This is expected to lead to more stable value formation.

Pi Network Update: KYC Application Deadline Extended to December 31, 2024

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Pi Network is currently in the Closed Mainnet phase, and an important deadline update has been announced. We will inform you about the significant changes in a situation where only Pioneers who have completed KYC can conduct transactions and barters using coins.

Details of the Deadline Extension

It has been announced that the first grace period deadline for KYC applications will be extended until December 31, 2024. This change aims to provide more Pioneers with the opportunity to complete KYC. Although our blog had previously announced the end of this month, we have urgently created this article upon receiving the announcement of the extension.

Important Deadline

・KYC Application Deadline: December 31, 2024

Conditions for Transition to Open Network

Pi Network aims to transition to the Open Network within 2024, and the following conditions must be met:

15 million Pioneers complete KYC
10 million Mainnet migrated users
Creation of 100 practical Pi applications within the ecosystem

Important Considerations

If you miss the first grace period deadline, a large portion of your previous mobile balance may be lost. Pioneers are strongly encouraged to utilize this extended period to complete their KYC application.

Future Developments

The Core Team plans to announce the Open Mainnet start date one month before the actual launch. The transition to the Open Network is expected to occur once the conditions are met.

3 Days Left Until KYC Deadline! Pi Network Nears 15 Million KYC, Largest in Crypto History: The Future of Innovative Blockchain

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A new history is about to be written in the cryptocurrency industry. Pi Network is just 1 million away from achieving an unprecedented 15 million KYC (Know Your Customer) verifications. This will be a groundbreaking event in the history of blockchain technology.

The deadline for KYC application is 3 days away. Please apply with plenty of time as processing may be delayed due to time differences or server load.

How to apply here
How to apply for Pi Network KYC (Identity Verification) and precautions

Achieving KYC on an unprecedented scale

Among cryptocurrency projects since 2015, no project has conducted KYC verification on the scale of Pi Network. To date, over 14 million Pioneers (users) have completed KYC verification, and this number means more than just a statistic.

Preparation for the Open Network Phase

The goal of 15 million KYC is an essential requirement for Pi Network’s next important phase, the transition to the “Open Network”. In this phase, the network will become fully open and accessible from around the world.

The Power of the Community

Pi Network’s success demonstrates not only the innovation of its technology but also the presence of a strong community. Each Pioneer’s KYC verification is a sure step towards a more inclusive and decentralized future.

Future Outlook

With the start of the Open Network phase, Pi Network will see:

Greater opportunities for adoption
Expanded access to the ecosystem
Practical application of blockchain technology in daily life

This achievement means more than just a number. It is a symbol of the global community’s determination and dedication towards building a more equitable and inclusive financial system.

The Importance of Completing KYC and Mainnet Migration

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Important Announcement

Pi Network has announced important updates towards the launch of the Open Network. All Pioneers (Pi Network users) must complete the necessary procedures by the following deadlines:

KYC (Identity Verification) Completion Deadline: November 30, 2024
Mainnet Migration Deadline: December 31, 2024

Details of Required Procedures

1. KYC (Identity Verification) Procedure

The steps for applying for KYC are as follows:

Tap ‘Submit KYC’ from the app’s main screen
Enter required personal information
Upload photos of your identification document
Take a selfie for identity verification
Review all information and submit the application

2. Mainnet Migration Process

There are 9 steps for migrating to Mainnet, all of which must be completed:

Access the checklist from the ‘Migrate to Mainnet’ button
Set up and confirm your wallet
Securely store your passphrase
Sign the token authentication
Complete other necessary steps

How to Check Progress

You can check the progress of the checklist within the app:

Green indication: Item completed
Purple indication: Item not completed

Important Notes

Special attention is required for the following points:

Completing KYC alone is not sufficient
If you do not complete all procedures by the deadline, your held coins may be forfeited
Always store your passphrase in a safe place

Frequently Asked Questions (FAQ)

Q1: How long does it take for KYC to be approved?

It varies depending on the validator’s status, but it may take from a few days to several weeks. Early application is recommended.

Q2: What can I do after migrating to Mainnet?

After the Open Network launches, the following will be possible:

Trading with other cryptocurrencies
Trading with fiat currency
Transactions within the Pi Network ecosystem

Troubleshooting

How to handle the following cases:

If the app crashes: Try reinstalling the app
If the KYC application results in an error: Try again after 24 hours
If the checklist is not displayed: Check for app updates

Future Outlook

Pi Network is steadily preparing for the launch of the Open Network. Important details such as pricing are expected to be announced at the time of the Open Network launch.

Summary

All Pioneers are encouraged to complete the necessary procedures as soon as possible. Addressing these tasks well before the deadline will enable a smooth Mainnet migration.

Detailed Explanation: The Difference Between Pi Network’s Open Mainnet and Open Network

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Pi Networkの発展において、Open MainnetとOpen Networkという2つの重要な概念について、詳しく解説していきます。これらの違いを理解することは、Pioneerとしての今後の活動に重要な意味を持ちます。

About the Mainnet Migration Checklist

Currently, many Pioneers are likely seeing the “Mainnet Checklist Complete” display on their dashboard. This is an important milestone indicating that preparation for migration to Mainnet is complete.

Importance of the Checklist

This checklist is not just a formality, but is for confirming the following important elements:

KYC verification completion status
Wallet setup and confirmation
Security settings completion
Secure storage confirmation of passphrase
Token authentication signature status

Open Mainnet

Open Mainnet refers to the state where Pi Network’s internal infrastructure is fully operational. At this stage:

Establishment of a secure transaction system
Pi transfer function between wallets
Full operation of the P2P trading platform
Implementation of basic smart contract functions

Open Network

Open Network refers to the stage where the Pi Network ecosystem is fully globalized. In this state:

Realization of interoperability with external blockchains
Release of application development by third-party developers
Integration with the global crypto asset ecosystem
Potential for collaboration with decentralized exchanges (DEX)

Points to Note in the Migration Process

For migration to Mainnet, the following important points require attention:

The migration process is not completed by KYC verification alone
Completion of all checklist items is required
Planned preparation considering the migration deadline is important
Careful confirmation of security settings is essential

Future Roadmap

The development of Pi Network is planned to proceed in the following order:

Completion of Mainnet checklist
Migration to Open Mainnet
Stabilization period for basic functions
Gradual migration to Open Network
Full global expansion

Mindset as a Pioneer

During this migration period, it is important for Pioneers to pay attention to the following points:

Regular dashboard checks
Continuous checking of official announcements
Maintaining security awareness
Compliance with community guidelines

※This information is provided for educational purposes and is not investment advice. Before making any decisions regarding Pi Network, please conduct sufficient research on your own.

Pi Network Moves to the Next Stage: The Importance of Testnet 2 and Future Prospects

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Pi Network is showing significant progress. This article introduces the latest update, the introduction of Testnet 2, and the preparation status for the open network.

1. Current Status of Pi Network

1.1 Closed Mainnet Phase

Pi Network is currently in the closed mainnet phase. In this phase, users who meet specific conditions can now perform actual transactions and trades.

1.2 KYC Requirements and Coin Migration

To perform transactions, the following conditions must be met:

Passed the KYC (Know Your Customer) process
Owned Pi coins have been migrated to the mainnet wallet

2. Introduction of Testnet 2

2.1 Purpose of Testnet 2

Pi Network recently introduced Testnet 2. The main purposes of this new testnet are as follows:

Preparation of nodes for the open network launch
Achieving a smooth transition from testnet to mainnet
Introduction and testing of new features
Network strength verification

2.2 Distribution of Test Pi by GCOR

In Testnet 2, an entity called GCOR is distributing 100 Test Pi. This is used by third-party applications and business partners to test integration with the Pi Network.

3. Preparation for the Open Network

3.1 Selection of Partnerships

Pi Network is currently selecting partners for the open network launch, such as the following:

Cryptocurrency services
General businesses
Financial institutions
Other organizations

3.2 Node Preparation and Migration Process

Testnet 2 is designed to allow node operators to smoothly transition to the open network. This enables sufficient testing and preparation before migrating to the production environment.

4. Current Status of the Mainnet Matrix

4.1 Current Pi Migration Status

According to the Mainnet Matrix, the current status is as follows:

Pi migrated to Mainnet: Approx. 410 million
Locked Pi: Approx. 280 million
Total: Approx. 690 million Pi

4.2 Conditions for Open Network Launch

To launch the Pi Network open network, 1 billion Pi migrated to Mainnet is required. This includes both locked and unlocked Pi.

5. Future Outlook

Considering the current migration status, approximately 310 million more Pi need to be migrated before the open network launch. Pi Network aims to launch the open network by the end of 2024, and the introduction of Testnet 2 is a significant step towards that goal.

As attention focuses on the development of Pi Network, it is important for all users to continue completing the KYC process and migrating their coins. Further progress is expected towards the launch of the open network.

Pi Network KYC Validator Recruitment! Join and Get Rewarded!

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Pi Network Latest Information: Background of KYC Validator Recruitment

Current Status of Closed Mainnet

Pi Network is currently in the Closed Mainnet phase. In this phase, Pioneers (users) who have completed KYC (Know Your Customer) verification can now conduct transactions and exchanges using Pi coins. This is a significant milestone in the growth of Pi Network.

Increased Demand for KYC Verification and Validator Shortage

With the growth of the network, applications for KYC verification have surged. However, the current situation is that there is a shortage of validators to process these applications. Therefore, Pi Network is calling on Pioneers who have already completed KYC verification to participate as validators.

Benefits of Becoming a Validator

Rewards in Pi Coin

When you act as a validator, you will be rewarded with Pi coins for your contributions. This is a good opportunity to increase your Pi holdings while contributing to the growth of the network.

Contribution to Network Growth

By participating as a validator, you can directly contribute to the growth and security enhancement of the Pi Network. Streamlining the KYC verification process and helping more users complete verification leads to the development of the entire network.

Path to Open Network Migration in 2024

Conditions for Open Network

Pi Network aims to transition to an Open Network in 2024. The following conditions are required for its realization:

Millions of KYC-verified users
Over 100 Pi applications
10 million Mainnet migrations

Importance of the KYC Verification Process

To meet these conditions, an efficient KYC verification process is essential. An increase in validators will shorten the waiting time for verification, allowing more Pioneers to fully participate in the network.

How to Participate as a Validator

Accessing the KYC Verification App

To participate as a validator, click the KYC app link within the Pi Network app. This link is usually displayed on the main screen of the app.

Flow of Validation Work

Upon accessing the KYC verification app, you can check your own KYC status and start working as a validator. The validation work primarily involves reviewing and approving the KYC information submitted by other Pioneers.

For the growth and security enhancement of the Pi Network, we encourage all KYC-verified Pioneers to consider participating as validators. Your contribution will be a big step towards the realization of the Open Network in 2024.

Pi Network: 2000th Day Milestone and the Path to Open Network

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Hello everyone! This time, we will provide you with the latest information about Pi Network. Pi Network reached its 2000th day on September 4, 2024, celebrating its progress so far. Let’s take a closer look at the current status of Pi Network as it reaches this milestone and its future prospects.

Pi Network’s 2000-Day Milestone

Pi Network reached its 2000th day since its official launch on March 14, 2019. This milestone symbolizes the community’s continuous efforts and progress towards the vision of providing an inclusive online experience for users worldwide. Pi Network is steadily moving forward in building a peer-to-peer ecosystem.

Current Status and Transition to Open Network

Currently, Pi Network is in the “Enclosed Mainnet” phase, and trading on exchanges or conversion to fiat currency is not yet permitted. Users should be careful never to share their Pi wallet phrase with others. The wallet phrase is a crucial key to protecting your Pi assets.

Important Dates and Future Prospects

The deadline for the KYC (Know Your Customer) process is approaching in one month, which will be an important step towards Pi Network’s transition to the “Open Network”. This will allow the Pi Network ecosystem to expand further and provide a better experience for users worldwide.

Summary

Pi Network has reached its 2000th day and is progressing smoothly. As the transition to the Open Network approaches, it is important for users to continue to be careful and maintain the security of their Pi wallets. Let’s look forward to future updates and continue to check the latest information on Pi Network.