The Pi Network’s mainnet started in the year 2021. But only in a limited form. The team originally planned to launch the full version in 2022, but it was delayed. Now, they aim to launch it before late June 2025, which is known as Pi2Day. This article will explain what the Pi Network is, its current status, Pi Network Launch Date, and the plans for the full launch of the mainnet.
Pi Network Mainnet Launch Date
In 2024, Pi Network is working hard to reach a few important milestones before launching its open network. As of now, the company has schedule the Pi Network launch date to the September 30, 2024. Recently, they introduced a new Pi Wallet feature that increases the mining rate for those who successfully migrate and lock up their Pi. To launch the open Mainnet, they aim to have 15 million Pioneers pass KYC, 10 million migrate to the Mainnet, and 100 apps ready. So far, 11.1 million Pioneers have passed KYC, 5.58 million have migrated to the Mainnet, and about 50 apps are ready. A recent upgrade has also sped up the migration process.
What is Pi Network?
Pi Network was created by Stanford graduates and launched in March 2019. Unlike Bitcoin, it doesn’t need a lot of energy to mine. Instead, it uses a system called the Stellar Consensus Protocol (SCP), which is more energy-efficient.
SCP allows people to mine Pi on their phones without using much power. Anyone with at least 250 megabytes of storage can run the Pi Node software. In comparison, running a Bitcoin node requires hundreds of GB’s of storage.
Pi Network: Significance
Pi Network is a blockchain project. It aims to make mining easy for everyone! Even if they only have a computer or smartphone. The project’s digital currency is called Pi Coin. The team of Pi Network hopes, that people will use it for daily transactions.
Consumers can mine Pi coins using their smartphones. All they need to do is press a button in the Pi Network app. That too, every 24 hours to indicate that they are active in the network.
Unlike traditional digital currencies like Bitcoin and other proof-of-work cryptocurrencies. Pi coins mining doesn’t need powerful, energy-consuming hardware. This is why many people are interested in mining Pi coins. Moreover, eagerly waiting for it.
Pi Network: Roles
The Pi Networks has 5 different roles. Let’s know what are they:
- Pioneer: For beginners. You earn Pi by opening the app regularly.
- Contributor: You can mine more Pi and add members to your security circle.
- Ambassador : You earn rewards for inviting new users.
- Node: You help run the network by downloading the Node software on your computer.
- Node Ambassador: You invite developers and engineer to create application for the Pi network.
Pi Network: Is It a Good Investment ?
You cannot just simply say that PI is a good investment. The reason behind it is that you can’t buy, sell, or trade it. Some might think that after five years, it might never be possible. But if you are amongst optimistic! It will depend on market conditions when the mainnet is launched. PI has for sure made people in the crypto world turn heads. If it ever comes to the open market, it will be a big event. But for now, no one knows when that will happen.
Final Thought
The Pi Network has a lot of potential because it’s easy to use and has many users. However, there aren’t many ways to use it right now, and delays in launching the main network make people unsure if it will succeed. It’s hard to predict its future, but launching the main network, expected by June 2025, could help. Recently, the Pi Network started letting advertisers buy ads with Pi coins and held a hackathon to create apps for finding merchants who accept Pi coins. These actions have increased the Pi Network’s usefulness beyond just collecting Pi coins.
So, this was all about Pi Network Launch Date. Hope you find this article interesting! Moreover, helpful in understanding the Pi coins and its workings. Though it is important to note, whatever information given in the article, are not financial expert advice. It’s just informative article. It is advisable to do your own proper research before investing. For more such article, stay connected to Absolutewire.com. Thank you reading!
