Pi Coin Faces Listing Delays Due to Transparency and Security Concerns

Pi Coin, a cryptocurrency that has garnered significant attention, continues to face challenges in gaining traction on major cryptocurrency exchanges. Despite its growing community, Pi Coin remains unlisted on prominent platforms such as
and Binance. This absence has led to constant speculation and frustration among users who are unable to trade the coin on these widely-used exchanges.According to crypto analyst Kim H Wong, three key reasons may be behind the delay in Pi Coin's listing on major exchanges. These include transparency, security, and problems with application processes. One of the main concerns is Pi Network’s blockchain’s closed-source nature. Both exchanges are more inclined to accept projects that permit inspection of their codebase, which is not possible with Pi Coin's closed code. This lack of open access does not allow developers and specialists to study the structure of the blockchain, consequently failing to trust the integrity of the network.
Another critical point is the potential lack of a formal listing application. Both Coinbase and Binance require projects to submit detailed applications before they are considered. In the absence of this step, no further due diligence and review is possible, ending any listing process regardless of user demand or community size. Meanwhile, Pi Network has focused its efforts on ecosystem growth, such as the $100 million venture fund and Pi App Studio, to encourage application developers to create on the network. However, exchange listings usually rely on stringent technical requirements, which Pi Coin may not yet meet.
Additionally, no public evidence has been given as to whether Pi Network has undergone a third-party security audit. Companies usually perform security audits before a big listing. In the absence of an audit, Pi Coin can be considered unverifiable and possibly hazardous. Coinbase and Binance prioritize security assurance, and without this, a listing remains unlikely.
The delay in Pi Coin’s listing on Coinbase and Binance likely stems from unresolved issues with code transparency, audit confirmation, and application procedures. Until these concerns are addressed, a listing remains unlikely. The situation highlights the importance of major exchanges in the cryptocurrency ecosystem, serving as gatekeepers determining which cryptocurrencies gain widespread acceptance. For Pi Coin to achieve mass adoption, it will need to overcome the barriers posed by these exchanges and gain a listing on one or more of them. This could involve addressing regulatory concerns, improving the technical aspects of the cryptocurrency, or building a stronger community around it.
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