Pi Network has officially announced its transition to the Open Network phase, scheduled for February 20, 2025, at 15:00 Vietnam Time. This marks a pivotal moment in the project’s six-year development journey, signaling a major step toward its goal of becoming the world’s largest decentralized blockchain platform.
According to the development team, Pi Network has recorded over 10.14 million Mainnet migrations, surpassing its initial target of 10 million. Additionally, more than 19 million users have completed identity verification (KYC), reinforcing the foundation for the Open Network phase where Pi coins will begin circulating in real-world transactions.
A Six-Year Journey: From Idea to Reality
Launched in 2019, Pi Network introduced a mobile-based mining model that allowed users to earn cryptocurrency through daily engagement. However, the project faced scrutiny during its prolonged “Enclosed Network” period, where users could only exchange Pi within the internal ecosystem without external trading capabilities.
The Enclosed Network phase, which began in December 2021, was designed to build a strong foundation for the Pi ecosystem through essential preparations:
- Users completing KYC and migrating Pi to the Mainnet.
- Developers creating practical applications to enhance Pi’s utility.
- Core team upgrades to improve blockchain functionality.
During this phase, Pi Network hosted major events like PiFest 2024, where over 950,000 users conducted transactions with 27,000 sellers and 28,000 merchants across 160 countries.
The Open Network Phase: Expanding Global Connectivity
The Open Network phase enables the Pi blockchain to connect with external systems, allowing users to transact with Pi outside the current ecosystem. This opens new opportunities for Pioneers and businesses, especially in payments and e-commerce.
Businesses joining the Mainnet will need to complete a Business Identity Verification (KYB) process to ensure transparency and regulatory compliance. Verified businesses will be listed on Pi Network’s official website.
Key conditions for the Open Network launch have been met, including:
- Completion of all technical, legal, and product requirements.
- Exceeding 19 million KYC-verified users, well above the 15 million target.
- Over 100 Mainnet-ready applications, supporting a diverse and sustainable ecosystem.
Preparing for the Open Network Era
As Pi Network enters this new phase, the community is encouraged to actively participate in expanding the ecosystem:
- Users: Continue mining Pi, using ecosystem apps, and engaging in real-world transactions.
- Developers: Upgrade existing applications and build new solutions for the Pi community.
- Businesses: Integrate Pi for payments and adopt Pi-based transaction methods.
👉 Explore more strategies for blockchain integration
The transition to the Open Network represents not only broader connectivity but also a critical milestone in Pi Network’s vision of a comprehensive decentralized ecosystem. With a solid foundation and a large user base, Pi Network is poised to make significant impacts in the global cryptocurrency market.
Frequently Asked Questions
What is the Pi Network Open Network?
The Open Network is Pi Network’s next development phase, enabling external connectivity and real-world transactions for Pi coins. It allows users to transact beyond the internal ecosystem.
How can I participate in the Open Network?
To participate, complete KYC verification, migrate your Pi to the Mainnet, and engage with ecosystem applications. Businesses must also undergo KYB verification.
What changes will the Open Network bring?
It will allow Pi to be used in external transactions, increase liquidity, and enable broader adoption by merchants and service providers globally.
Is Pi available on external exchanges?
Pi has been listed on some exchanges, but widespread availability will likely increase after the Open Network launch.
What is the role of developers in the Open Network?
Developers are crucial for building and improving applications that enhance Pi’s utility, support transactions, and drive ecosystem growth.
How does KYC help the Pi Network?
KYC ensures user authenticity, reduces fraud, and helps the network comply with international regulations, fostering trust and stability.