Important Pi Network (PI) Update

TL;DR

• Pi Community goals to make crypto mining extra accessible however faces criticism for delays in launching its mainnet and token.
• The challenge is nearing its KYC milestone. On the identical time, it launched a big replace to organize for the mainnet.

Inching Nearer to the Aim

The controversial crypto challenge Pi Community goals to allow people to mine Pi cash instantly from their cell units with out vital power consumption. This technique seeks to make digital foreign money extra accessible to a broader group of individuals, particularly those that lack the assets for conventional mining setups.

Regardless of being round for over 5 years, the challenge retains elevating eyebrows as a result of the truth that its native token or open mainnet are not reside but.

Whereas the group has promised improvement on the matter within the following months, the group is split. Some cheered the potential upcoming information, whereas others imagine additional development delays will happen. The most important pessimists see Pi Community as a rip-off, claiming that the native token won’t ever see the sunshine of day.

Earlier this 12 months, the group maintained that the launch of the Open Community will occur as soon as 15 million individuals had accomplished needed Know-Your-Buyer (KYC) procedures. Most just lately, the social media channel Pi Information disclosed that finishing the goal wants simply 1 million people since 14 million “KYC pioneers” have already been verified.

At first, the builders suggested individuals to cross verifications by the top of September, later extending the deadline to November 30. The method is named “the Grace Interval.” 

Encouraging Validators

Shortly after saying the deadline extension, Pi Community’s group endured an inflow in KYC requests and urged customers to hitch as validators. Contributors who contribute precisely had been promised Pi tokens as a reward for his or her efforts.

The builders additionally launched Pi Node Model 0.5.0, a improvement described as “a significant replace getting ready nodes for the mainnet blockchain.”

“This replace transitions Nodes to the Testnet2 blockchain, simulating the Mainnet surroundings and testing the change between Testnet and Mainnet blockchains. The unique Testnet will stay lively for now however will quickly shut for Node use. Unique Testnet will proceed functioning as regular for Pioneers and Pi app builders,” the disclosure from final month reads.