Examining the social cryptocurrency reveals many recent achievements and an exciting future
Pi Network marked its third anniversary on March 14th, 2022 with important announcements. The network defined future plans and shared progress in terms of technology, product, and community growth since last year’s Pi Day.
Pi Network Growth March 14, 2021 – March 14, 2022
Pi Network experienced an extraordinary year of growth that was filled with milestones that achieved its goals. It also grew the utility and usability of the network. Pi Network’s Enclosed Mainnet was launched, three new Whitepaper chapters were published, and the Testnet network grew to more than 10,000 active nodes. Additionally, the Pi Community grew from 15 million to over 33 million engaged users (referred to as “Pioneers” in the community).
During this time the Pi ecosystem underwent evolution through launches and iterations multiple PI Network apps, features, such as Pi KYC (Brainstorm), Pi Browser, Pi Wallet and Pi Blockexplorer.
Looking forward, Pi Network aims to accelerate the community mass KYC process, migrate its users’ balances to the Mainnet, develop an ecosystem of apps on its platform, and move to Open Mainnet.
Launch the Mainnet in Attachment
On December 28, 2021, the Enclosed Network Period of Mainnet was activated. This firewall blocks any external connections to the Mainnet. The Enclosed Mainnet allows millions of Pioneers time to complete KYC, and for the community to develop utilities-based Pi applications. Enclosed Network allows the community to gather data and test the Mainnet before the Open Network launches.
Current Whitepaper Draft
Along with Mainnet’s launch, updated Whitepaper chapters were made available. These chapters describe the Pi Network Mainnet roadmap as well as new mining rewards and the token model. They are still in draft form. The chapter will continue to be improved based upon community feedback and the data from the Enclosed Mainnet.
Nodes
Over 10,000 Testnet nodes have been active in the last year. In addition, the Node desktop application is used by thousands of Pioneers every day. These Pioneers are on the wait list to host the blockchain container. Although not all Nodes have the Testnet consensus container in place, all provide important infrastructure and data to support multiple versions of the Node software. After the Open Network period ends, these Community Nodes are eligible to join the Pi Mainnet blockchain.
Hackathon
It hosted its first #buildPi2gether Hackathon, with thousands participating between June 28, 2021 – September 20, 2021. The Pioneers presented many projects that had a variety of uses. Only a few were awarded for extraordinary contributions.
KYC App
The development of the novel Pi KYC AppIt was started in the beginning and it continued for the rest of the year. This app is a decentralized, scalable KYC system that integrates machine automation with crowdsourced human verification. The KYC solution maximizes accuracy and privacy, while also ensuring accessibility to large numbers of individuals and easy scaling for many millions. The team worked on several features and versions between testing rounds such as improved obfuscation algorithms which hide a Pioneer’s data from human validators, liveness checks which verify that a real person is applying, improved processing speed to ensure timely uploading of Pioneers’ documents, and much more. Pi Network’s KYC app has been approved after multiple rounds of testing (see Pi Day). Announcements below!) Available on a large-scale.
Ecosystem tools
Pi Network created and launched a diverse ecosystem of apps and features in 2021 that will help Pioneers and Mainnet grow.
It Pi BrowserIn April 2021, the Pi Browser was created to provide a better and more direct Pi Utilities platform that Pioneers and community-developers can interact and collaborate on. Pi Browser gives Pioneers access to the Pi KYC and other community-created apps. The ecosystem will continue to develop more useful apps, so Pioneers can spend Pi on their favorite apps.
Pi Browser’s features have seen numerous enhancements since launch. Notifications were added, as well as deep linking. In the coming year, more features will be developed and released.
It Pi wallet was announced on Pi Day 2021, offering Pioneer’s a noncustodial method to hold their Pi. The Wallet enabled Pioneers to connect with Testnet’s blockchain and create Test-Pi transactions. The Pi Wallet was updated to allow Pioneers to switch between the Mainnet or Testnet blockchains. This will enable them to prepare for their Pi balance to be received on Mainnet.
It Brainstorm App—a place for Pioneers to propose Pi Apps ideas, join existing projects, and engage with other Pioneers to join their projects—launched just prior to Pi Day, 2021. The Brainstorm App received many improvements and features throughout the year. These included the ability to host large-scale online hackathons and the improvement of the UI based on feedback from the community. In 2022, more Brainstorm updates will be made. Stay tuned for new news later this year.
It Pi SDKPi2Day, June 28th, 2021, saw the release of. This allows developers to create applications that connect with the Pi Ecosystem. It enabled developers to connect with the Pi Blockchain and create payments. Additionally, the Pi servers were used to validate Pioneers’ consent. Developers will have more functionality in their apps with the addition of new features planned for next year.
It Pi Block ExplorerFirst launched October 2021 in order to give visibility to Testnet. Pioneers can view all transactions and accounts on Mainnet’s blockchain. The Pi balance and transaction status can be viewed by Pioneers. They also have access to the overall state of the Pi blockchain.
Pi Day Announcements
Pi Day 2022 was full of exciting news. Pi Core has announced two major new features. First, the long-awaited mass KYC solution is now available. Second, the Pi mining mechanism will allow for greater mining rewards that are based on node hosting, lockup settings and app usage.
Application for Pi KYCThey are available as soon as they become available. This allows Pioneers from all over the globe to apply on a large scale. The number of applications slots is expected to increase steadily. Each Pioneer will get an email notification when they are granted a slot for submitting their application. The slots will be randomly chosen and not in an order. All Pioneers want to apply and move to Mainnet. However, please take your time as all slots will become available for all Pioneers in order to reduce system clutter during processing millions of applications. The speed of network KYC is now dependent on how many human validations are available in every locality to complete the human verification stage. Machine automation is currently being scaled up as necessary. You can join the ranks of validators to help accelerate the KYC process.
Pi KYC is a combination of machine automation and human verification. This allows for accurate and efficient KYC. Image processing, text extraction and fake ID detection will all be performed by machine automation. Liveness checks, image comparison, image matching, and liveness checking are also possible. The human verification flow, where pre-approved human verifiers check the redacted data of other Pioneers’ KYC applications, has also been released on this Pi Day.
Pioneers now have the ability to receive financial assistance. Mining rewards for new generationsIndividual mining rates can be increased by various contributions, including app usage, Node operation, Pi lockups and Pi lockups. Pre-Mainnet rewards include security circles, referrals and other pre-mainnet rewards. To ensure the safety and decentralization, as well as the utility and stability of the Pi Ecosystem, it is important to lock Pi up while the ecosystem utilities and use case develop.
Soon to be released
Pi Network is releasing several releases over the next few months. Pioneers are encouraged to keep an eye out for them.
KYC App
KYC apps are self-sufficient in the ecosystem. Pioneers are charged 1 Pi for processing their applications. Further, fully KYC’ed Pioneers will soon be able to apply to become KYC validators for their country or region after agreeing with Service Terms of the app, going through a tutorial to train their validation skills, and being peer-vetted by trusted validators on their initial work. Since these validators’’ work is constantly cross-validated to prevent bad actors, providing consistently inaccurate verification will lead to removal from the workforce pool. KYC applicants can earn Pi to reward good validation.
Node Consensus Container
The Enclosed network period saw the following: Consensus ContainerFor all Community Nodes, the Testnet will open. Pioneers will be able to monitor and set up a node by doing so. Pioneers need to do so to confirm that their nodes can successfully handle the Testnet Blockchain parameters. Once the firewall has been removed, the Open Network will begin and Pioneers can host the Pi Mainnet Blockchain with their Nodes.
Pi Ecosystem further development
Pi Network will be increasing its efforts to increase community app development using the Pi Browser in order to develop real utility and use cases within Pi Ecosystem. Future Hackathons, and other initiatives that support developers will be part of this initiative. The Core Team will be developing Pi apps.
Mainnet Migration
After a critical mass of Pioneers pass KYC verification, the network will begin transferring the KYC-verified Pioneers’ mobile-mined balances to the Enclosed Mainnet blockchain. This will enable the Pioneers to utilize their Pi in the Pi Ecosystem. To qualify for Mainnet Migration Pioneers must complete the Mainnet Checklist found in the Pi App’s Mainnet tab. These steps include creating a Pi Wallet via the Pi Browser, selecting a lockup configuration and submitting and passing a KYC request.
Open Network
Once mass Mainnet migration has occurred and the Pi Ecosystem becomes sufficiently developed, Pi Network will transition to the Open Network Period of Mainnet. The firewall in the Enclosed Network Period will be removed. External connectivity will be possible, such as to other networks or to any person who wishes to access the Pi Mainnet. Removal of the firewall will allow direct access to the blockchain, and community Mainnet Pi Nodes will be able to run the Mainnet blockchain.
Pi Network saw strong growth and development in the past Pi year. The community is excited about the Mainnet migration and the development of the app environment. Pi, unlike other cryptocurrency networks has enjoyed vital community support since its inception. Pi pioneers were instrumental in ensuring the security and growth of the network. They mined Pi from their smartphones and provided valuable feedback to the network’s evolution and improvement. Pi year has so much to offer. Pioneers must continue to provide valuable feedback to help make the network a success.