Will Pi Network Ever Launch? What Stage is Pi Network Now?

Pi Network Launch Date: Will Pi Network Ever Launch?

The pending Pi Network has been a buzzing topic that has evolved over the years with millions of active users and massive community interests. Will Pi Network ever launch? Is Pi coin real or fake? Is Pi Network worth anything? At the moment, this could be a million dollar question in cryptocurrency circles.

As per the Pi Core team, Pi Network is currently at a significant phase of its enclosed mainnet development, the final stages of transition to a open mainnet – fully decentralized, access to the other blockchains, and enable Pi coins to trade with other cryptos or fiat currencies.

Since its mainnet migration began on August 3, 2022, Pi Network has been focused on technical improvements, KYC solution, Pi platform and ecosystem building, among others. According to its last statement:

“Pi is at an important point in Enclosed mainnet development, in which Pi is able to focus on two key priorities: enabling mass KYC and empowering ecosystem utilities-building. Both are essential steps toward our objective of building a viable ecosystem to get ready for Open Mainnet.”

So far the final stage of opening the mainnet to the public is on schedule, but there is no definite timeline for the transition yet.

What Exactly Is Pi Network Open Mainnet that Is Being Talked About?

Mainnet is the term used to describe when a blockchain convention is completely evolved and conveyed, which implies that cryptographic money exchanges are being communicated, confirmed, and recorded on a decentralized record innovation (blockchain). In a nutshell, the Mainnet implies the real publicly released blockchain itself that is openly undeniable.

The Mainnet accomplishes the usefulness of executing real exchanges within the organization which is put away on the blockchain and is alluded to as the ‘final result’ available for the general population to utilize.

Typically, before a blockchain project’s mainnet is sent off, the group will set up an Initial Coin Offering (ICO), an Initial Exchange Offering (IEO), or whatever other implies that can help the business raise assets and develop their local area. Normally, the gathered assets are then used to foster the models of the blockchain network, which are then tried during the Testnet phase. After performing bug fixes and depending on the demonstration of the test network, the group will then send an adapted version of the blockchain mainnet, which (in a perfect world) is completely conveyed and utilitarian.

The mainnet is a free blockchain that runs its own organization with its own innovations and conventions. It is a real-time blockchain that uses its own form of cryptocurrency or tokens as opposed to testnet or projects that run on top of other prominent organizations like Bitcoin.

At this point, Pi Network likewise has not yet finished the Mainnet, so it is important to get the protocol technique from among the coins that have proactively laid out the Mainnet. Among them, Pi picked the SCP that Stellar Lumen and Ripple have, and is building the Mainnet in view of this.

This is of crucial importance and means that Pi will never again evolve into a token, but rather a “coin”. It likewise implies that the Pi will have its own value and enjoy huge benefits when it enters the market.

Pi Network is currently overcoming the expected progress on the Mainnet alone, and the cycle is working very well. Specifically, there is a story that mining may stop when the Mainnet is completed.

Pi Coin Value: Will Pi Ever Be Worth Money?

Investors may have seen Pi coin value publicly shown on a select few crypto exchanges, such as Huobi, which has listed Pi for trading on 29 December 2022. But as we mentioned in the opening, Pi network is still in its Enclosed Mainnet period, during which transaction of Pi through an exchange is prohibited.

It has also caused confusion within the Pi Network community and prompted the Pi team to respond to these listings.

The Pi Core team asserted that all these listings were conducted independently of the team, which were not approved and were not in line with the network’s policies. The team is calling for the removal of the coin from these exchanges and is warning users not to engage in trading at this time.

There may be a lot of speculation about the future Pi coin value, but no one knows exactly. We will have to wait and see. At this moment, the protocol already has millions of active miners and users securing its network in beta. This is a fully-programmed space ready to explode once the network eventually goes live.

We believe that Pi coin will have its own real value only when the Pi Network launches its open mainnet to the public finally. If this really come true, Pi project will definitely have its own innovations.

Will Pi Network Ever Launch – Conclusion

Pi Network witnessed considerable progress in 2022, attracting interest from industry-leading platforms. The project promises to solve the problem of web-scale while balancing the scarcity and availability of crypto assets. Further, the Pi Core team will continue to build in 2023, starting with hackathons planned for early January. The initiation of the mass KYC and mainnet migration will be a huge step towards its development in 2023.

Again, please be sure to read the Pi disclaimer. As Pi Network is still in its Enclosed Mainnet period and has not yet launched the open mainnet, the platform insists that its token is currently not tradeable.

BTCC will keep you updated with the Pi ecosystem hype, especially the Pi Network launch date. Read the following articles for more information about the Pi Network:

FAQs

1. Is Pi coin real or fake?

Currently, no one knows the answer to the question whether Pi coins are real and legal. There is no cost to install the application. However, there may be issues regarding data privacy and lack of transparency.

2. Is Pi Network worth anything?

As Pi Network is still in its enclosed mainnet period and has not yet launched the open mainnet, the platform insists that its token is currently not tradeable during the period. We believe that Pi coin will have its own real value only when Pi Network launches the much-anticipated open mainnet to the public finally. So will Pi ever be worth money? We have to wait and see.

3. How much is 1 Pi in dollars?

Though several exchanges such as Huobi has listed Pi coin and shows live Pi network value, the Pi Core team asserted that all these listings were conducted independently of the team and were not approved. The team is calling for the removal of the coin from these exchanges and is warning users not to engage in trading at this time.

4. What stage is Pi Network now? Will Pi Network ever launch?

Pi Network has evolved over the years and is currently in its final stages of opening the mainnet to the public. The transition is on schedule, but there is no definite timeline yet.

5. Does it have a Pi wallet app?

Yes, but Pi wallet currently only connect to the Testnet, with only Test-Pi for testing. It will have the real Pi coins inside when Pi Network mainnet goes live, when it will enable actual Pi transfers.

6. Is Pi mining legal?

Yes, it is legal as it does not involve any cash investments to mine it. All you need is about 20 seconds of your time (typically less than 20 seconds) to click on the lightning button to start mining once every 24 hours. If you already have the app, you can wait to see if the founders build something of significant value.

7. What about the Pi coin price prediction?

There is no way to know the future of a cryptocurrency that hasn’t even been launched yet. No one knows if there will be any value of Pi coin at all. Therefore, Pi coin price prediction seems impossible as of this time.

Despite all this, some Pi project enthusiasts argue that the final mainnet launch is not expected to take long to come. They think the smartphone minable coin will hit the public space this year. And Pi coin value could explode soon if listed on top crypto exchanges such as Binance and Coinbase.

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