Pi Network: Success of the Closed Mainnet Phase and Pi Coin Usage Policy - PIHOKANEWS

pi.hokanews.com - Pi Network, an ambitious digital currency project, has gained significant attention in the world of cryptocurrency due to its bold and innovative steps. One crucial stage in its development is the Closed Mainnet Phase. During this phase, Pi Network introduced a policy governing the use of Pi Coin that all its members need to understand. 

Getting to Know Pi Network

Before we delve deeper, let's first understand what Pi Network is. It's a digital currency project that commenced in 2019, led by Dr. Nicolas Kokkalis and his team. The primary goal of this project is to create a digital currency accessible to everyone, without requiring specialized hardware or in-depth technical knowledge. Pi Network aims to be the new generation of currency that's user-friendly for people all around the world.

Success in the Closed Mainnet Phase

The Closed Mainnet Phase of Pi Network is a significant step in their journey. It marks the transition from testing to a more mature phase. 

The team behind Pi Network has worked diligently to develop the technology supporting the network. This phase allows them to test and optimize their infrastructure before opening it to the general public.

A major achievement in the Closed Mainnet Phase is the improvement of network security. This is a critical step to protect the interests of pioneers and avoid the risk of leaks or fraud.

The Pi Network community has grown rapidly during this phase. Pioneers who have actively participated in Pi Coin mining feel increasingly connected to the project's vision.

Pi Coin Usage Policy

During the Closed Mainnet Phase, there is a specific policy governing the use of Pi Coin. This policy is essential to maintain the integrity and goals of this project. 

Pi Coin cannot be exchanged for fiat currencies or other cryptocurrencies during this phase. This decision is agreed upon by the Pi Core Team.

Pi Coin can be used to purchase goods and services offered by Merchants on various platforms. This creates an economic ecosystem supported by Pi Coin.

It is crucial to remember that selling Pi Coin on the black market or unofficial exchanges is strictly prohibited by the Pi Core Team. Such actions can result in your Pi Network account being frozen or blocked for 100 years.

Awaiting the Open Mainnet Phase

Although Pi Coin cannot currently be exchanged for other currencies, the Pi Network community remains united and actively participates in coin mining. They patiently await the Open Mainnet Phase, which is expected to bring more opportunities and functionalities.

Pioneers who continue to participate in Pi Coin mining can be confident that their patience will pay off. Pi Network is a digital currency still in development, and holding Pi Coin at this stage may prove beneficial in the future.

Pi Network has demonstrated success during the Closed Mainnet Phase, a pivotal milestone in their journey. During this period, they have improved technology, security, and community engagement. The Pi Coin usage policy serves as a guide for pioneers to uphold the integrity of this project.

Currently, #PiNetwork is still in enclosed mainnet phase and Cannot be exchanged to fiat money or to other cryptocurrencies as per the #PiCoreTeam policy..

It simply means that during the enclosed mainnet, the #Pi token created by Dr. Nicolas Kokkalis, can only be used to… pic.twitter.com/aYti5JYHU4

— Pi π UNIVERSE (@Pi_UNIVERSE_VN) October 12, 2023

Ultimately, the Closed Mainnet Phase is part of Pi Network's efforts to create a new generation of currency accessible to everyone. It is a crucial step toward their vision, and pioneers are invited to preserve and cherish Pi Coin as a valuable digital asset.

As we await the Open Mainnet Phase, let's work together to build a robust and inclusive Pi Network ecosystem. Patience is the key, and we will soon witness further developments in this project.