News Update
Pi open network launches February 20, crypto space agog
Pi open network is finally coming live on February 20, 2025. This is after about six of millions engaging with the coin. Pioneers l, as they referred to, would scream “finally!”
The launch announcement was made via its X (Twitter) account in the early hours (Nigerian time) of today, February 12.
According to @PiCoreTeam, “Pioneers, Open Network will launch at 8am UTC on February 20, 2025!
“With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, which allows Pioneers to connect Pi with external systems for use in real-world applications like never before.
“Congratulations to the entire community for the collective efforts and work over the past 6 years that led us to this moment! Go to the Pi mining app to read the official Open Network announcement for more details!”
One of the impacts of this announcement is a about 70% leap in the price of Pi (IOU, since it had not been launched) on Coinmarketcap.
The Pi Core Team also explained what to expect at open network launch.
What to expect from open network at launch
In the pi app, which is linked to the Pi browser, theu wrote:
“The launch of the Open Network brings an important new change – external connectivity – to the layer-1 Pi blockchain creating an environment where Pi can connect securely with external systems, expanding opportunities for Pioneers and businesses.”
Connecting Pi with outside world
“The transition to Open Network will enable external connectivity on the Mainnet blockchain, allowing Pi to interface with other compliant networks and systems.
“This means Pioneers will be able to engage in transactions beyond the Pi ecosystem, expanding Pi’s utility and reach.
“Upon Open Network launch with the firewall removed, anyone can technically add nodes to the Mainnet blockchain, in terms of running the protocol and connecting to the network.
“The Core Team will gradually invite Pioneers to transition their nodes from Testnet to Mainnet via the desktop node UI, prioritizing those with strong historical contributions and reliability scores.
“Node rank data will be made public as soon as possible.”
Business compliance requirements for network participation
“To maintain a safe and compliant ecosystem, participation in Mainnet blockchain activities will require KYC (Know Your Customer) verification for Pioneers, and KYB (Know Your Business) verification for businesses.
“Overall, Pi intends to be a safe Web3 space where Pioneers can have external connections with the Pi they hold—KYB’d businesses and partners interface with real KYC’d Pioneers, and vice versa.
“Businesses can apply for KYB verification through the webpage (coming soon). Once Open Network launches, Pioneers can see a list of KYB-verified businesses on the Pi website.”
What Pioneers and developers should do during open network period
Contributions from Pioneers and community developers are essential to the network’s strength and resilience as new challenges emerge in the Open Network phase.
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