Pi Network, a blockchain-based platform enabling users to mine PI coins, has set Feb. 20 as the launch date for its Open Network mainnet, according to a press statement obtained by CryptoSlate.
This long-awaited transition follows several delays, with the project now claiming significant progress, including millions of KYC-verified users and a growing utility-driven ecosystem.
Open Network
Since December 2021, Pi Network has been operating in an Enclosed Network phase, limiting external interactions.
The upcoming Open Network phase will change this by allowing its blockchain to connect with external networks. This shift will enable users, known as Pioneers, to transact beyond the Pi ecosystem, expanding real-world use cases.
Pi Network’s ecosystem includes utility-based applications, a social network for crypto users, and a blockchain designed for seamless transactions. Once the firewall is lifted, anyone can operate a node on the mainnet blockchain.
However, Pi’s Core Team will prioritize experienced users by inviting them to migrate their nodes from the testnet to the mainnet. This process will be managed through the desktop node UI, with preference given to those with high-reliability scores and consistent contributions. Additionally, node rankings will be made publicly available.
Nicolas Kokkalis, Pi Network’s Head of Technology and co-founder, highlighted the platform’s accessibility. He emphasized that Pi allows users to mine crypto for free on mobile phones, bringing crypto to millions worldwide.
According to Kokkalis, the blockchain also supports identity verification for individuals and businesses, a feature uncommon among Layer-1 networks. This capability enables seamless interactions between third-party applications, verified users, and businesses
Controversies trail Pi
Despite its ambitious plans, Pi Network remains a divisive topic in the crypto space.
Some critics argue that its model resembles a multi-level marketing scheme rather than a legitimate blockchain project. This skepticism has led to reluctance among major exchanges to list the token.
Bybit CEO Ben Zhou recently dismissed calls for Pi Network’s token to be listed on his exchange. In a Feb. 12 post on X, he explained that his past experiences in forex trading influenced his decision to stay away from the project.
Crypto journalist Wu Blockchain has also pointed out that certain exchanges have distanced themselves from the project. According to him, Bitget has quietly removed promotional content related to Pi, possibly due to lingering controversies.
Despite this, OKX has announced plans to support the Pi token. The exchange will allow deposits starting Feb. 12, with spot trading set to begin on Feb. 20. Withdrawals will be available from Feb. 21, 2025.
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