Pi Network Road to Open Network: Exciting Updates and Milestones

Pi2Day 2024 is a significant event for Pi Network, marking the last celebration before the launch of the Open Network.

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This milestone reflects the collective efforts of the entire Pi community, including the Core Team, community developers, and all Pioneers. The progress made towards achieving the Open Network conditions is a testament to the community’s contributions and innovations.

Achievements and Community Growth

The Pioneer community has now surpassed 60 million engaged members, highlighting the rapid growth and increasing interest in Pi Network.

Open Network Conditions and Progress

The Open Network launch is contingent on meeting specific conditions. Here’s an update on the progress:

Preparation Work

The Core Team is on track with the necessary technological, product, business, and legal preparations. Significant progress has been made in these areas, setting the stage for a successful transition to the Open Network.

KYC, Migration, and Utility Goals

KYC Verification: Over 12 million Pioneers have completed KYC, a significant increase from 9.45 million in March 2024. Efforts are ongoing to unblock corner cases and accelerate the process.
Mainnet Migration: Currently, 5.79 million Pioneers have migrated to Mainnet, up from 4.5 million in March 2024. Further improvements are planned to speed up migrations.
Pi Apps: Over 70 Mainnet or Mainnet-ready Pi apps meet the criteria of solving real needs and bringing utility to the Pi ecosystem. This is an increase from 50 apps in March 2024.

Avoiding Unfavorable External Conditions

The Core Team controls the Open Network launch date, ensuring it doesn’t coincide with unfavorable global conditions that could impact the network’s success.

Tech and Product Progress

KYC Enhancements

Several methods have been developed to assist Pioneers in passing KYC, including new features to unblock applications and improve accuracy in the validation process. Key improvements include:

Password-Change Requirement: Added to the Mainnet Checklist for enhanced account security.
Appeal Functionality: Allows Pioneers to appeal KYC rejection decisions.
Liveness Checks: Improved accuracy with left-and-right face angles capturing.
Resubmission Ability: Helps unblock stuck applications.

Mainnet Migrations

A recent update has significantly increased migration speed, with further improvements planned for Q3. Notifications for successful migrations will be implemented to keep Pioneers informed and encourage engagement in Mainnet activities.

On-Chain Lockups

Pioneers who have migrated to Mainnet can now create new lockups on the blockchain, boosting individual mining rates and supporting a robust ecosystem.

Node Updates

Node version updates from 0.4.9 to 0.4.11 have enhanced analytics and standardized applications across regions. A mechanism for Nodes to switch between Testnet and Mainnet is in development, preparing for a large-scale, decentralized computing network.

Pi Platform and PiNet

Major work on the Pi Ad Network has been completed, enabling community developers to add advertisements transacted in Pi cryptocurrency to their apps. PiNet saw growing adoption, with geolocation enabled for Pi Apps and improvements in user experience.

Community Initiatives and Events

Pi App Incubator Program

The inaugural Pi App Incubator Program concluded in June 2024, supporting the growth and improvement of community Pi Apps. The program will be updated based on learnings and a second cohort launched later this year.

Pi Social Profiles

The new social profile system allows Pioneers to personalize their profiles and interact with others, integrating seamlessly across the Pi ecosystem.

Fireside Forum

Regular Art Festivals focused on photography and music have enriched the Pioneer experience. Decentralized moderation improvements are ongoing to ensure a fully decentralized social experience.

Upcoming Initiatives

KYC Grace Period and Rolling Window

Starting July 1, 2024, a 6-month KYC grace period and rolling window will be enacted. This will accelerate the KYC and migration process, ensuring real Pioneers transition to the Mainnet.

Testnet and Mainnet Preparation

A new Testnet will be created to develop a network switching mechanism, ensuring a smooth transition for Nodes from Testnet to Mainnet.

Second and Future Migrations

Further Mainnet balance migrations are in progress. Pioneers are encouraged to ensure their wallets are secure and get their Referral team and Security Circle members KYC’ed.

Pi2Day Open Network Challenge

To celebrate Pi2Day, Pioneers can participate in the Pi2Day Progress to Open Network Challenge. This event offers a chance to explore new features, receive unique prizes, and contribute to the Open Network goals.

Upcoming Hackathon

An upcoming hackathon will focus on developing innovative apps to grow the Pi community and ecosystem. This event will help propel the network toward the Open Network.

Pi Commerce Apps: PiFest

Following the success of the PiFest event, a new PiFest will be announced, allowing Pioneers to use Pi Commerce Apps for local transactions. This event will further integrate Pi into local commerce worldwide.

Final Thoughts

The journey to the Open Network is filled with excitement and significant progress. The long-term strategies of building real-world, scalable utilities will ensure Pi Network’s success. Pioneers have played a crucial role in this journey, and as the network nears its Open Network launch, the community’s dedication is more important than ever.

By focusing on the collective efforts and innovations of the Pi community, Pi2Day 2024 not only celebrates past achievements but also sets the stage for future success as Pi Network moves closer to the Open Network.

Source: Pi Network