On December 28, 2021, the Pi coin Mainnet blockchain went live, but it was in a contained state; that is, it was accessible from within but couldn’t receive any exterior connections. The primary goal of this design is to construct Pi Network’s ecosystem infrastructure and utilities, not to facilitate the listing or trading of Pi currencies.
After the Enclosed Mainnet time, which is when Pi Network says the firewall will be taken down and external communication will be allowed, the Open Mainnet period begins. In 2024, Pi Network plans to enter the Open Mainnet phase, subject to three key conditions: achieving specific milestones in Know Your Customer (KYC), migration, and utility creation.
The first need, which requires Pi Network to complete any Open Network readiness work in technology, products, business, and law, is currently within reach. The second and third conditions, on the other hand, are subject to external variables and the combined efforts of pioneers, community developers, and the Core Team.
So, the Open Mainnet debut date is still up in the air and could vary based on how things go for Pi Network and its community.
What is Pi Coin Mainnet
The coin known as Pi The Pi Network software allows users to mine Pi coin, a cryptocurrency, on their mobile devices, which connects to the live blockchain network known as the mainnet.
On December 28, 2021, the Pi coin Mainnet went live in a contained state, meaning it was live but blocked from any external connectivity by a firewall. The primary goal of this design is to construct Pi Network’s ecosystem infrastructure and utilities, not to facilitate the listing or trading of Pi currencies.
After achieving specific milestones in Know Your Customer (KYC), migration, and utility creation, the Pi coin Mainnet will go live in 2024. Pi coins can be traded for other cryptocurrencies or fiat currencies, and the Pi blockchain can connect to other blockchains or third parties in an open state. The Pi currency Mainnet is a decentralized database that facilitates smart contracts and records transactions in a scalable and safe manner.
Pi Network Features
Pi Network is an initiative with the goal of creating a decentralized network that runs on the mobile-minable cryptocurrency Pi coin. Here are a few things you may expect from Pi Network:
Mining app: Signing up, mining Pi, receiving network alerts, participating in community events, and interacting with others may all be done through the main mobile app, the Pi mining app.
Pi chats: To facilitate open-format conversations and user-to-user communication amongst Pioneers, the Pi app has a built-in messaging solution called Pi chats.
Apps platform: Developers from the Pi community can work together on the Pi Apps platform to build and release apps that accept Pi Coin as payment.
Blockchain: A distributed ledger that can record transactions and allow smart contracts, the Pi blockchain is both secure and scalable.
Nodes: The Pi blockchain relies on nodes, which are computers that execute the Pi node software and verify transactions. Anyone with a PC or cloud server can host a node and help keep the network secure while also earning incentives.
PiFest: At PiFest, local companies and vendors that take Pi coins as payment are showcased. Users can find and support products and services powered by Pi.
Pi Coin Mainnet Launch Date
If all three prerequisites are satisfied, the Pi Network has set 2024 as the target year for the open mainnet launch of the Pi coin. Under these circumstances,
Complete all Open Network preparation tasks in the areas of technology, products, business, and law by adhering to Pi Network’s consistent strategies.
Getting the following results in terms of network know-your-customer, migration, and utility development:
15 million Pioneers have successfully completed Know Your Customer (KYC) processes, including both fully and tentatively, and 10 million have made the transition to the Mainnet.
One hundred authentic Pi apps that are either live on the Mainnet or have all the necessary infrastructure in place to join it, each with their own unique use case, functionality, and compliance with Pi platform regulations.
There are no big outside forces, like security concerns, regulations, or technological roadblocks, preventing the open network rollout.
There is currently no scheduled launch date for the Open Mainnet; however, this may change as the Pi Network and its community evolve and adapt. According to some sources, the Open Mainnet launch could take place between March and June 2024; however, Pi Network has not officially confirmed this.
Pi Coin Mainnet Value
Pi Coin doesn’t yet have a listing on any exchange, so the market does not determine its value. The mainnet is accessible during Pi Coin’s current enclosed mainnet period; however, a firewall is blocking all traffic from outside the network. Once the Open Mainnet era starts, the value of Pi coins will be determined by the demand for and supply of Pi coins, the usefulness and acceptance of Pi Network and its applications, and other factors. Three necessary conditions must be satisfied before the Open Mainnet phase may begin in 2024.
Unofficial and unreliable sites have speculated on the possible worth of the Pi coin using a variety of assumptions and scenarios. Based on a projected market value of $10 billion USD and a circulating supply of 8.6 billion PI, one source forecasts that the Pi coin may reach $1.16 USD by the end of 2024. In 2024, according to another source, with a market capitalization of $300 billion USD and a circulating supply of 10 billion PI, the price of the Pi coin might reach $30.01. You shouldn’t accept these forecasts as financial advice, either, because they are just that—predictions.
If you want to help Pi Network and its ecosystem expand and develop, mine, invite new users, design apps, and get involved in governance, that’s the best method to boost Pi’s value. With its decentralized and open platform, Pi Network hopes to make the digital economy accessible to everyone.
Pi Coin Mainnet Price Prediction
Because it is dependent on so many unpredictable and ever-changing elements, no official or trustworthy prediction has been made regarding the mainnet value of the Pi coin. You shouldn’t regard the speculative projections offered by some sites as financial advice since they are based on assumptions and situations.
With an estimated market valuation of $10 billion USD and an existing supply of 8.6 billion PI, one source forecasts that Pi currency may reach $1.16 USD by the end of 2024.
In 2024, according to another source, with a market capitalization of $300 billion USD and a circulating supply of 10 billion PI, the price of the Pi coin might reach $30.01.
Based on historical and technical analysis, a third source predicted that Pi currency might spike to $32.78 USD in early 2024, before the mainnet deployment.
Do not accept this as financial advice; it is based on speculation. Once the Open Mainnet era starts, the value of Pi coins will be determined by the demand for and supply of Pi coins, the usefulness and acceptance of Pi Network and its applications, and other factors. Three necessary conditions must be satisfied before the Open Mainnet phase may begin in 2024.
If you want to help Pi Network and its ecosystem expand and develop, mine, invite new users, design apps, and get involved in governance, that’s the best method to boost Pi’s value. With its decentralized and open platform, Pi Network hopes to make the digital economy accessible to everyone.
Pi Coin Pros and Cons
If you have a mobile device and the Pi Network app, you can mine Pi coin, a cryptocurrency. No matter your experience or level of technical knowledge, it aspires to make cryptocurrencies accessible to anyone. But there are benefits and drawbacks to PiCoin, just as there are to any other cryptocurrency. A few examples are these:
Pros:
Decentralization: There is no one entity or middleman that controls Pi Coin because it runs on a decentralized network. This lessens the possibility of manipulation, corruption, or censorship.
Security: To safeguard its transactions and forestall fraud, Pi Coin employs sophisticated cryptography. In addition, it employs an innovative Stellar Consensus Protocol variant that offers asymptotic security, low latency, flexible trust, and decentralized control while reducing environmental impact significantly.
Privacy: Among the privacy features offered by Pi Coin are stealth addresses, ring signatures, and zero-knowledge proofs. Thanks to these additions, users can buy and sell Pi coins anonymously.
Accessibility: Pi coin’s straightforward mining method and user-friendly interface make it ideal for widespread adoption. No specialized knowledge or costly gear is required for users to participate in the network and contribute computer power in order to earn Pi coins.
Incentives: Pi currency is more decentralized and safe than other cryptocurrencies since it encourages users to engage in the network and secure the network. Inviting other users to join one’s referral team, finishing one’s security circle, configuring one’s Pi to use lockup, operating a node, and using apps are all ways users can boost their mining rate.
Cons:
Volatility: Because its value is dependent on the demand for and supply of Pi coins, the usefulness and acceptance of Pi Network, and the applications built on top of it, the price of Pi coins is very unpredictable. Market mood, regulatory concerns, technological advances, and competition are some of the variables that may cause the value of the Pi coin to change dramatically over time.
Uncertainty: Pi Coin has not yet been released on the open mainnet and is currently in the beta stage. Since there is no Pi currency wallet or exchange, it follows that Pi coins do not exist on a blockchain. Three necessary requirements must be satisfied before the open mainnet launch, which is scheduled for 2024. But these circumstances are conditional on the Core Team’s and Pioneers’ joint efforts and on external variables over which they have no control. Pi’s introduction to the open mainnet and its subsequent value and utility are thus completely uncertain.
Scams: Scams: The Pi Network has never authorized the listing or trade of Pi coin on any exchange, and the Pi Network has never been connected with any supposed listings or postings. Sadly, there are con artists out there that would take advantage of the Pi coin craze by selling phony coins, wallets, exchanges, or investment schemes. Scammers may employ various tactics to mislead users into downloading dangerous software, giving up personal information, or even Pi currency. It is important for users to exercise caution and diligence when interacting with any third-party platforms or services that make false claims about their affiliation with Pi Network or Pi Coin.
How can I mine Pi coins?
To start mining Pi coins, get the Pi Network app on your phone or tablet and sign up with an invitation code from an existing user. To begin mining Pi coins, launch the app once every 24 hours and hit the mining button. To boost your mining rate, you can do things like run a node, use Pi apps, invite more users to your referral team, finish your security circle, and set up a lockup setup.
How can I join Pi Network?
The following are the necessary procedures to join the Pi Network and begin mining Pi coins:
- The Pi Network app is available for download on both the App Store and Google Play. The Pi app can be obtained from minepi.com.
- Sign up by providing your phone number or email address.
- Please input the invitation code that you received from a loved one who is currently using the Pi.
- Every day at the same time, launch the program and hit the mining button to start mining Pi coins.
That’s all! As a Pi Pioneer, you have the opportunity to earn Pi coins. To boost your mining rate, you can do things like run a node, use Pi apps, invite more users to your referral team, finish your security circle, and set up a lockup setup.
FAQs About Pi Coin Mainnet
When will pi coin mainnet launch?
The Pi Network has set 2024 as the target year for the open mainnet launch of the Pi coin.
How to transfer pi coin to mainnet?
Since Pi Coin is still in its early stages on the testnet, it cannot be purchased or stored by the general public just yet. But there is a way for Pi Network users to move their balance to the mainnet, the platform where all future Pi transactions will occur.
How to sell pi coin from mainnet?
You can find potential buyers for your Pi coins online or in person; all you need to do is agree on a price and a way to pay. Being extremely wary and attentive when interacting with strangers is essential, as this strategy has a significant risk of fraud and scams. To locate possible customers or vendors, you can utilise sites such as Pi Network Mainnet or [Pi Network P2P].
How much will Pi be worth in mainnet?
With an estimated market valuation of $10 billion USD and an existing supply of 8.6 billion PI, one source forecasts that Pi currency may reach $1.16 USD by the end of 2024.