Pi Network is a cryptocurrency project that aims to make digital currency accessible by allowing users to mine Pi coins directly from their smartphones. Founded in 2018 by a team of Stanford graduates, including Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, the network seeks to develop a user-secured and managed platform for smart contracts.
Journey Of Pi Network :
1.Launch on March 14, 2019 : Pi Network was launched on Pi Day March 14, 2019. The project introduced a mobile mining concept that allowed users to mine Pi coins without draining battery life or consuming excessive energy.
2. Phase 1: Initial Distribution (2019-2020): During this phase, users could mine Pi coins by simply opening the app once every 24 hours. The project focused on growing its user base and distributing Pi coins widely.
3. 10 Million Users on June 2020 : Pi Network reached a significant milestone by surpassing 10 million engaged users worldwide, demonstrating rapid growth and adoption.
4. Phase 2: Testnet Launch on March 2021: Pi Network launched its Testnet, allowing developers to test decentralized applications (dApps) on the Pi blockchain. This marked a step toward building a functional ecosystem.
5. KYC (Know Your Customer) Implementation (2021-2022) : Pi Network in this period began rolling out its KYC process to verify user identities and ensure compliance with regulatory requirements. This step was crucial for transitioning to the Mainnet.
6. Phase 3: Mainnet Launch on December 2021: Pi Network transitioned to its Mainnet on December 2021. marking the shift from a centralized system to a decentralized blockchain. However, the Mainnet was launched in an enclosed environment, meaning users could not yet transfer Pi coins to external wallets or exchanges.
7. Utility Development from 2022 to 2023 : The Pi Core Team focused on building utilities and use cases for Pi coins, including peer-to-peer transactions, merchant adoption, and ecosystem development.
8. Open Mainnet (TBD): As of October 2023, Pi Network has not yet fully opened its Mainnet to allow external transfers. The community is awaiting the transition to an open Mainnet, which will enable Pi coins to be traded on exchanges and used more broadly.
9. Official Launch on February 2025 : The Pi Network officially launched its open mainnet, allowing external trading, on February 20, 2025, at 8:00 AM UTC, with the initial price of Pi Coin around $1.45.
Future Predictions :
There are many Predictions about Pi coins, mostly see it as a profitable source of benefit.
As of March 2025, Pi Network has not yet been listed on major cryptocurrency exchanges, making its market value speculative. Many analysts provide by varied forecasts:
CoinCodex: it predict a 229.60% in launch price increase, estimating Pi’s price to reach $4.82 by April 15, 2025.
BeInCrypto: it predicts that Pi could gradually climb toward $5.00-$5.20 by 2029, contingent upon network growth and ecosystem development.
Cryptopolitan: it offers a bullish outlook, suggesting Pi’s price could reach a maximum of $94.89 in 2025, assuming significant adoption and utility.
Recent Developments :
As of March 2025, Pi Network has made significant strides in its development:
1. Transition to Open Network:
On February 20, 2025, Pi Network launched its Open Network phase, enabling external connectivity and integration with the broader blockchain ecosystem. This transition allows for global transactions and new integrations for businesses and developers.
2. Market Activity:
Following the Open Network launch, several exchanges, including Bitget, OKX, and MEXC, listed the PI token, increasing its accessibility and liquidity.
3. Expansion of Ecosystem:
Pi Network introduced 20 new decentralized applications (DApps) ahead of its Mainnet launch, aiming to provide tangible utility to Pi users and expand its ecosystem.
4. Community Engagement:
The network has been actively engaging with its community, introducing features like the ‘Lockup’ mechanism for Mainnet-migrated Pioneers and addressing KYC hurdles to unlock over 1 million applications.
5. Speculations:
There are ongoing speculations about potential listings on major exchanges like Binance and Coinbase, which could significantly impact PI’s market dynamics.
These developments highlight Pi Network’s commitment to building a robust and inclusive ecosystem, positioning itself as a competitive player in the blockchain space.
6. Pi Node Update:
Recently Pi Released Pi Node v0.5.0, moving to Testnet 2 for improved security and decentralization.
7. Price Decline & Market Position:
Pi Coin has dropped 73% from its peak.It fell from 11th to 24th place in cryptocurrency rankings. which is a good time to buy it. currently Binance has not listed Pi Coin, which is affecting its price.
8. Domain Auction Initiative:
Recently Pi Network conducted domain auctions, with over 200,000 bids received. Therefore we can say there is big chance for huge growth.
Conclusion:
Pi Network’s journey reflects a commitment to creating an inclusive cryptocurrency ecosystem. While future predictions vary and there is some decline but there is still a higher chance for its growth. the network’s growth and developments will significantly influence its trajectory in the evolving digital currency landscape.
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