Pi Coin Listing Delayed by Binance Due to Transparency and Security Concerns

Binance, a leading cryptocurrency exchange, has not listed Pi Network (PI) due to several key reasons. The primary concerns revolve around transparency, security, and the application process. Pi Network's blockchain code is not fully open-sourced, which hinders its listing on major exchanges like Binance. Both exchanges prefer projects that allow inspection of their codebase, enabling developers and specialists to study the blockchain's structure and trust its integrity. Pi Network's closed-source nature prevents this, making it difficult for Binance to assess the network's security and reliability.

Another critical issue is the potential lack of a formal listing application. Both Coinbase and Binance require projects to submit detailed applications before they are considered for listing. Without this step, no further due diligence and review is possible, effectively halting the listing process regardless of user demand or community size. Pi Network has focused 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 typically rely on stringent technical requirements, which Pi Coin may not yet meet.

Additionally, there is no public evidence that 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 major exchanges 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.