Pi Network Unveils Open Network: A New Era of Mobile Cryptocurrency
1min read The Pi Network, a decentralized cryptocurrency project launched by Stanford graduates in March 2019, has garnered significant attention for its commitment to making cryptocurrency mining accessible via mobile devices. The project aims to establish a peer-to-peer economy, emphasizing security, accessibility, and community engagement within its unique ecosystem. Users, or Pioneers, can mine Pi coins on their mobile devices with minimal power.
In December 2021, Pi Network achieved a significant milestone by launching its Mainnet. However, this launch was not an open one; rather, it introduced the Enclosed Network phase. During this phase, the blockchain was operational but restricted from external connectivity. This step was necessary to allow Pioneers to complete KYC (Know Your Customer) verification and migrate their Pi tokens to the Mainnet, enable developers to build and test real applications and utilities within the Pi ecosystem, and provide time for the Core Team to refine Pi’s infrastructure and features before allowing full external access.
Pi Network is set to transition into the Open Network phase on February 20, 2025, at 8:00 AM UTC. This marks the next major step in Pi’s journey, unlocking external connectivity for its blockchain. With the Open Network, Pi will move beyond its enclosed system and introduce several major changes, including external connectivity, public node participation, Pi trading and utility expansion, and increased business adoption.
The Open Network phase is the moment when Pi transitions into a fully-fledged cryptocurrency, enabling real-world adoption, trade, and financial interactions across the Web3 space. Before reaching this phase, Pi Network has hit several critical goals, such as surpassing 10.14 million Mainnet migrations, exceeding 19 million KYC-verified Pioneers, and introducing over 100 Mainnet-ready apps. Additionally, PiFest 2024 showcased real-world utility with over 27,000 sellers and 950,000 participants transacting with Pi.
As the Open Network launch approaches, Pioneers are encouraged to complete KYC if they haven’t already, migrate their Pi to Mainnet, engage with Pi apps and services, and continue supporting the ecosystem’s growth. After the launch, Pioneers can explore external transaction opportunities using Pi, monitor Pi’s integration with exchanges, and support businesses that accept Pi, strengthening its real-world adoption.
