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Pi Network Surpasses 12 Million Global KYC Users, Announces New Product Updates as Open Mainnet Progress Continues
The Pi Core Team’s Open Mainnet progress continues on track thanks to the incredible contributions and innovations of its community.
PALO ALTO, Calif., June 28, 2024 /PRNewswire/ — Pi Networka Web3 app ecosystem and development platform with a community of tens of millions of people mining and using the cryptocurrency Pi, today marked the start of its Pi2Day festivities with an update on its progress toward the Open Network.
In the month of December, Pi announced its plan to transition to the Open Network period of Mainnet in 2024 if the community reaches a number of conditions, including: 15 million Pi users undergoing KYC (Pioneers); 10 million people migrated to Mainnet; 100 real Pi apps on Mainnet or ready for Mainnet; continued progress with technical and product updates from the Core Team; and finally, the absence of an unfavorable global external environment.
To date, more than 12 million Pioneers have completed identity verification using Pi’s native Know Your Customer (KYC) solution, More KYC (up from 9.45 million in March), with 5.79 million migrant people on the Mainnet (up from 4.5 million in March). Additionally, 70 real, distinct Pi apps are on Mainnet or Mainnet-ready and solve a real need by providing additional utility to the Pi ecosystem (up from 50 in March).
“Our path to Open Network is based on the collective efforts of the global Pi community,” said Dr. Chengdiao Fan, founder and head of Pi product. “Together, the Core Team, community developers, and pioneers around the world are working collaboratively to achieve Open Network in 2024, and we are pleased to say we remain on track thanks to the incredible contributions and innovations of our community.”
“Over the past few months, our team’s diligent testing, technical optimizations and numerous revisions have enabled numerous upgrades in Mainnet migration, KYC and other blockchain components such as the Pi Node,” said Dr. Nicolas Kokkalis, the other founder and Head of Technology. “These updates lay the foundation for our ongoing work in upcoming initiatives such as the KYC grace period, second and subsequent migrations, Mainnet node and blockchain work, and more, which facilitate the community to further advance Pi towards network open in 2024.”
Since last year’s PiDay (March 14, 2023), Pi has grown from 45 million to over 60 million engaged global users and launched a number of major ecosystem updates, including:
- Fireplace Foruma Web3 social media app with innovative tokenomics to create, curate and moderate content.
- DMs pointed on the Pi Chat app, another cryptocurrency integration to facilitate meaningful connections.
- Pi Advertising Networkthe first actualization of the vision of a platform-level utility network built on its collective assets such as community size and engagement, collective attention, and verified digital identities. The initial release was made in the Fireside Forum, and the platform is now integrated with community Pi apps.
Pi Network anticipates further momentum in 2024 as the Core Team seeks to foster further growth in community and utility services for all Pioneers globally.
To learn more about Pi’s progress read their latest announcement Here.
ABOUT PI NETWORK
Pi Network is a community of tens of millions of people mining the Pi cryptocurrency to utilize and build the Web3 app ecosystem. Founded in 2018 by a team of early innovators in blockchain and social computing, with PhDs from Stanford University, Pi Network is a utility-based ecosystem for third-party apps on a mobile web platform, with widespread (rather than concentrated) token distribution. The blockchain platform offers a mobile-first mining approach, with low financial costs and a light environmental impact within the crypto space.
SOURCE Rete Pi