The innovative project “Pi Network,” which allows cryptocurrency mining using only a smartphone, is reaching a critical turning point. With over 60 million Pioneers (Pi Network users) participating worldwide, we will explain the latest developments regarding the potential full Mainnet migration and exchange listing in 2024.
The Innovation of Pi Network
Traditional cryptocurrency mining required expensive dedicated equipment and significant power consumption. In contrast, Pi Network has realized a groundbreaking system that allows anyone to easily participate in mining through a smartphone app. Mining is possible simply by logging in daily, while minimizing battery consumption.
Current Status and Challenges
Pi Network is currently in the transition period from Testnet to Mainnet. Pi coin is still only available within the app, and trading and withdrawals are restricted. The core team is addressing the following challenges, prioritizing security and regulatory compliance:
- Full implementation of the KYC (Know Your Customer) process
- Strengthening of the anti-fraud transaction system
- Ensuring scalability
- Establishment of community governance
Details of the New Roadmap Version 2
1. Infrastructure Expansion
To achieve large-scale transaction processing, the following technical improvements are being advanced:
- Strengthening blockchain scalability
- Optimization of security protocols
- Expansion of the node network
2. Introduction of Decentralized Autonomous Organization (DAO)
To realize community-driven decision-making, the following mechanisms will be built:
- Implementation of a voting system
- Establishment of a proposal mechanism
- Building a highly transparent operational structure
3. Ecosystem Expansion
Development of practical decentralized applications (dApps) will be promoted:
- Green finance related applications
- Platforms supporting sustainable consumption
- Social impact measurement tools
- Local economy revitalization services
4. Open Mainnet Deployment
In the full Mainnet migration planned for 2024, the following will be aimed for:
- Achievement of full decentralization
- Realization of global transactions
- Preparation for listing on major exchanges
Path to Exchange Listing
Preparations for exchange listing after the Mainnet migration are underway:
Technical Requirements
- Optimization of the Stellar Consensus Protocol
- Improvement of transaction processing speed
- Conducting security audits
Market Stabilization Measures
- Consideration of Pi stablecoin development
- Building mechanisms to ensure liquidity
- Implementation of price fluctuation countermeasures
Expected Effects After Exchange Listing
If exchange listing is realized, the following benefits are expected:
Market Effects
- Realization of global market access
- Formation of appropriate market value
- Improvement of liquidity
User Benefits
- Potential economic benefits for early adopters
- Increased freedom of trading
- Possibility of exchange with other cryptocurrencies
Environmental Considerations
Pi Network’s efforts to reduce environmental impact are as follows:
- Achieved over 99% power saving compared to traditional mining
- Efficient transaction confirmation through the Stellar Consensus Protocol
- Priority development support for environmentally friendly dApps
Future Outlook
Through the full Mainnet migration in 2024, Pi Network aims to become a significant player in the cryptocurrency ecosystem. Development is particularly expected in the following areas:
- Promotion of sustainable economic activities
- Provision of inclusive financial services
- Environmentally conscious technological innovation
- Formation of a global community
The realization of exchange listing will create opportunities for more users to recognize the value of Pi coin, and further development of the project is expected.