Breaking! Post-KYC – Expanding the Ecosystem Becomes the Main Priority Ahead of Open Mainnet
As time progresses, Pi Network is showing significant
advancements towards the launch of its much-anticipated Open Mainnet. Following
the completion of various developmental stages, including the crucial KYC (Know
Your Customer) process—a key requirement to ensure the security and compliance
of the ecosystem—the focus has now shifted to expanding the ecosystem before
the Mainnet is fully accessible to the public.
The Pi Core Team's
Acceleration Towards Open Mainnet
The Pi Core Team, made up of leading technology
professionals, has been working tirelessly to accelerate progress towards the
Open Mainnet phase. This milestone is highly anticipated by millions of
Pioneers across the globe who have been part of the Pi Network since its
inception. The Open Mainnet will mark a pivotal moment in Pi Network's history,
as this is when Pi Coin will become widely usable for real-world transactions.
However, before the Open Mainnet is officially launched, the
Pi Core Team faces a critical task: ensuring that the Pi ecosystem is mature
enough and equipped with valuable applications to support the growth of Pi
Coin’s value. This is why expanding the ecosystem has become a top priority at
this stage.
Pi Hackathon: Encouraging the Development of
Decentralised Applications
One of the most concrete steps taken by the Pi Core Team to
expand the ecosystem is the launch of the Pi Hackathon. This event aims to
inspire developers from around the world to build Web3-based applications
integrated with Pi Coin. In the blockchain and decentralised technology
context, Web3 refers to the next generation of the internet, which is more
decentralised and offers users greater control over their data and digital
identities.
The Pi Hackathon has drawn widespread interest among
developers, especially those intrigued by the vast potential of blockchain
technology. This Hackathon provides an opportunity for developers to showcase
their creativity and expertise by creating applications that will play a vital
role in the Pi ecosystem. So far, around 90 applications have been completed,
ready for testing and deployment on the Pi network.
Targeting 100 Apps
Before Open Mainnet
A key objective of the Pi Hackathon is to launch more than
100 approved applications before the Open Mainnet goes live. These applications
are expected not only to become part of the Pi ecosystem but also to drive
global adoption of Pi Coin as a currency that can be used in various
transactions and services.
The applications being developed span a variety of categories, including decentralised finance (DeFi), decentralised social media, digital marketplaces, payment applications, and more. These apps will be essential in creating real-world utility for Pi Coin, transforming it from a speculative asset into something with tangible use in daily life.
Full Support and Major Rewards for Developers
In a bid to encourage greater participation from developers,
the Pi Core Team is offering full support to those taking part in the
Hackathon. This support includes technical guidance, access to Pi Network’s
Application Programming Interface (API), and assistance in integrating Pi Coin
into the applications being developed. This initiative aims to ensure that
every application produced is of high quality and can make a positive
contribution to the Pi ecosystem.
Moreover, the Pi Core Team has announced substantial rewards for the best applications. The top developer will receive 10,000 Pi Coins—a significant incentive not only in terms of financial rewards but also as recognition of their contribution to Pi Network's growth.
A Massive Global Community
One of Pi Network’s greatest strengths lies in its large and
growing global community. Today, Pi Network boasts over 60 million users
worldwide, known as Pioneers. This community is spread across numerous
countries and encompasses people from various backgrounds, including technology
professionals, developers, and everyday users drawn by the enormous potential
of Pi Coin.
With such a vast user base, the market potential for
applications built on the Pi ecosystem is immense. Any app launched on Pi
Network will have immediate access to millions of users, providing developers
with a unique opportunity to make a substantial impact. This also positions Pi
Network as a leading blockchain platform supporting a diverse array of
decentralised applications in the future.
Potential Impact on
Pi Coin’s Value
As Pi Network edges closer to Open Mainnet, many
cryptocurrency observers believe that the value of Pi Coin is set to increase
significantly. The real-world utility brought by the numerous applications
developed within Pi Network will be a key driver of Pi’s value. Should these
applications attract widespread user interest and create a dynamic ecosystem,
demand for Pi Coin is likely to grow, which in turn could strengthen its market
value.
In addition, Pi Coin is poised to become a key component of
decentralised applications operating on Pi’s blockchain. As the native currency
of the Pi ecosystem, Pi Coin will be used in various transactions and services,
ranging from payments to exchanges, and will act as a medium of value within
DeFi applications. With this broad utility, Pi Coin is expected to play a
critical role, not just as a cryptocurrency, but as an essential element in the
decentralised digital economy.
The Role of KYC in Building a Secure Ecosystem
Before expanding the ecosystem and entering the Open Mainnet
phase, Pi Network completed a crucial milestone—its KYC process. KYC involves
verifying the identity of users to ensure that each Pi Network participant is a
legitimate individual and not a fake account or bot.
This process is critical as Pi Network aims to build a
secure and decentralised ecosystem where all participants are trustworthy.
Additionally, KYC helps prevent illegal activities such as money laundering and
fraud, which are common concerns in the crypto ecosystem.
After users complete KYC, they gain full access to their Pi
Coins and can actively participate in the Pi ecosystem, including using the
applications developed on the network. Completing KYC also prepares users to
fully engage with the upcoming Open Mainnet phase.
What to Expect in the Future?
As Open Mainnet draws nearer, there are many exciting
prospects ahead for Pi Network. First, with over 100 approved applications
ready for launch, Pi Network is well-positioned to become one of the leading
blockchain ecosystems supporting innovative decentralised applications. With
strong backing from the Pi Core Team and a vast global community, the Pi
ecosystem is set to become an attractive platform for developers and users
alike.
Secondly, the potential rise in Pi Coin’s value continues to
be a hot topic within the crypto community. The utility provided by the
applications developed within Pi Network could create significant demand for Pi
Coin, which in turn could positively impact its market price. However, it’s
essential for users to remain realistic and understand that developing the
ecosystem takes time, and Pi Coin’s value stability will depend on the
successful implementation of these applications and their global adoption.
Thirdly, Open Mainnet will be a significant moment for Pi
Network and the entire Pioneer community. Once the Mainnet is live, users will
have full access to their Pi Coins and will be able to use them in a wide range
of transactions and services. Moreover, the Open Mainnet phase will pave the
way for Pi Coin to be listed on cryptocurrency exchanges, expanding its
accessibility and liquidity in global markets.
Conclusion
Pi Network has reached an important milestone in its journey
towards Open Mainnet. Following the completion of KYC, which ensures the
security and integrity of the ecosystem, the Pi Core Team is now focused on
expanding the ecosystem by encouraging developers to create decentralised
applications integrated with Pi Coin. With over 100 applications ready for
launch, Pi Network is on track to become one of the leading blockchain
platforms in the world.
Pi Network’s global community of more than 60 million
Pioneers offers tremendous potential for developers to create valuable and
impactful applications. Meanwhile, Pi Coin is also expected to experience
significant value growth as Open Mainnet approaches and as more applications
provide real-world utility for Pi.
With all these developments, Pi Network is poised to enter a
new era as an innovative and decentralised blockchain platform. The future of
Pi Network looks promising, and the entire Pioneer community is eagerly
awaiting the launch of Open Mainnet with great anticipation.
Source: cryptoleakvn
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