In this article, I will talk about the Pi Network Launch Day, which is a widely awaited moment in the history of the Pi community.
Since the network is progressing from the development phases to fully functional phases,
The launching date will herald the introduction of new possibilities for network users to assimilate into the Pi worlds and make use of their Pi coins.
What is Pi Network?
Pi Network is a social cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining battery or harming the environment and fosters the world’s most accessible and ubiquitous app platform where developers can offer users real-life utilities and products in exchange for Pi coins.
With its 35+ million engaged user base and novel mining mechanism that allows anyone to mine Pi straight from their smartphones, Pi Network strives to bring real power back to the masses.
.Pi’s blockchain secures not only transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
When Is the Pi Network Launch Date?
While the enclosed and the open versions are still transitioning, the Pi Network has yet to integrate the enclosed and open version systems fully.
Recently, the Pi core team issued a document to this effect stating that an Open Mainnet can be launched in 2024 provided that Pi apps, Pi coins migrated, and so on meet certain requirements.
The idea of an open version was first set out for 2022, but such plans were, in the end, rolled back.
According to the team, the open network period will commence based on the development of the Enclosed Network ecosystem as well as the KYC.
In the open network period, the firewall will be lifted, and users will be able to connect to other networks and wallets. Anyone who likes will also be able to connect to Pi Mainnet.
There will also be no firewall for API calls, and Pioneers will have access to Pi Nodes and API services.
The Pi Network team provided progress toward completing the open mainnet conditions in March 2024.
When the update came out, over 9 million of the goal of 15 million users were submitted for KYC.
In June, another update was published by the team, explaining the development that has occurred during the last three months.
The team’s esteem was able to explain that over 1.3 Million Pioneers have been moved to the mainnet while over 2.5 million new users received KYC, and 20 new apps have transitioned to the mainnet.
It was also stated that this was the last Pi2Day in Sync before the Open Network was launched.
Pi Network Roles
Dispersed across five roles, the app offers these features, or should we call them Pioneer, Contributor, Ambassador, Node, and Developer Ambassador:
Pioneer: This is the stage that beginners in the Pi Network ecosystem go through, which enables them to earn Pi every time they open the application.
Contributor: At the Contributor level, users can mine Pi at a faster rate and add other individuals into their security circle.
Ambassador: The ambassador position stands to encourage and revere the individuals whose role is to utilize the network to bring in new users.
Node: Node role users can run the decentralized network by using the Node software on their personal computers.
Developer Ambassador: This is a specific role that aims to recruit developers who shall be tasked with making apps within the Pi Network.
Pi Network
Pros:
Widespread accessibility: The incorporation of smartphone mining allows users to mine with low battery and data consumption.
Huge network: More than twelve million KYC-verified active users are available for participation.
User Governed: Stability and user governance is further enhanced by features such as the Lockup mechanism.
Cons:
Limited Trade: There were token trading restrictions, and a market for its liquidity post-shift was also lacking.
Risky: There are fears of how useful the Pi coin will be and its instability once it is released.
Regular postponement: Users are exasperated by the mainnet launch date being postponed over and over, leading to user morale issues.
Who developed the Pi Network?
Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, two Stanford Ph. D.s in computational engineering and social sciences.
Dr. Kokkalis, in addition to developing/founding several startups and human-centered technologies in the past, teaches Stanford’s computer science class, Decentralized Applications on Blockchain.
Dr. Fan, receiving her PhD in computational anthropology, has also worked as a founding developer of several startups and projects around scaling social communications and surfacing untapped social capital for people everywhere.
Both are strong and long-term believers of the technical, financial, and social potential of cryptocurrencies but are frustrated by their current limitations.
To resolve traditional blockchains’ shortcomings, they employ a user-centric design philosophy that turns the development process of new blockchains upside down.
The Pi Network Roadmap
The roadmap of the Pi Network comprises three key phases. The first phase started in 2018 with the creation of a mobile application compatible with iPhones.
The appeal would be published about a year later in the original Pi white paper, which tells more about the reasons behind every project, its tokenomics, and the derivatives of the network.
The second phase commenced with the introduction of the Pi testnet in 2020.
During the second phase, the team rolled out several utilities, including wallet, browser, and developer tools.
Finally, the last phase, or phase three, officially commenced on December 21, when the Pi mainnet was officially launched and though the Pi mainnet has been launched.
It is important to note that it is currently at a, so to speak, enclosed network phase. That is, the mainnet is surrounded by a firewall, thus restricting any unwanted network access from outside.
During the KYC migration phase, users can complete KYC and transfer their Pi coins onto the mainnet blockchain.
The enclosed Network phase was also needed so that many Pioneers could finish KYC and move their Pi to Mainnet.
Moreover, the aims of the enclosed period include enabling the Pi Apps on the testnet to move successfully to the mainnet.
Conclusion
The official launching of the Pi Network can be seen as a major event of the entire project, which moves it from the developmental stage to an entirely operational network.
This particular launch will not only create new opportunities for the Network’s users, enabling them to use their Pi coins within the ecosystem, but also engage them in the economy that the Pi Network seeks to build.
As the launch date gets nigh, it is an exhilarating moment for all pioneers, contributors, ambassadors, node operators, and developer ambassadors who have been crucial in the building and expansion of the network.
