When is Pi Network Launch Date?
News

When is Pi Network Launch Date?

Posted on by Audrey

The Community is requesting the question: When is Pi Network Launch Date? Despite the anticipation surrounding the mainnet launch of Pi Network, the exact launch date remains uncertain. Some speculate that the Mainnet launch is scheduled for mid-2024, but there has not been any official announcement yet.

Pi Network has garnered significant attention in the cryptocurrency community due to its innovative mobile mining approach and the potential to become a legitimate payment project. Despite being in development for over four years, the project has not provided specific plans or schedules for the launch of its open Mainnet, leaving many in anticipation.

Nonetheless, the project has seen ongoing developments, including merchant integration, a sustained increase in its supporter base, and hints suggesting the imminent launch of the Mainnet. The community is eagerly awaiting further details and updates from the core team regarding the Mainnet launch. When is Pi Network Launch Date?

Pi Announces First Commerce Event, Launches QR Scanner

In early December, Pi Network introduced PiFest, its inaugural commerce event. The event is designed to showcase local businesses and merchants globally that have integrated Pi into their operations. The primary goal of PiFest is to enhance the utility of Pi and showcase the strength of the Pi community in supporting local commerce. This initiative seeks to empower businesses that have adopted Pi, fostering greater interaction with the extensive community of Pi Network Pioneers.

Secondly, PiFest provides an opportunity for Pi Network Pioneers to discover and interact with local businesses in their regions that accept or utilize Pi. This initiative aims to highlight the practical applications of Pi in everyday commercial transactions. Additionally, Pi Network has introduced a QR code feature in its mobile wallet app, streamlining peer-to-peer and business transactions. With this new functionality, users can conveniently scan QR codes for sending or requesting payments, eliminating the need for manual entry of addresses.

Pi Network Gains 2.6M Followers on X

Pi Network has garnered substantial popularity, amassing an impressive 2.6 million followers on X (formerly Twitter) ahead of its mainnet launch. The project boasts over 35 million Pioneers, individuals who mine its native token, Pi Coin.

Pi Network stands out as a blockchain project aiming to democratize mining, making it accessible to anyone with a desktop or mobile device. Pi Coin, the project’s native token, is intended for everyday transactions.

Users can mine Pi coins simply by clicking a button within the Pi Network app every 24 hours, demonstrating their active participation in the network. Notably, Pi coin distinguishes itself from traditional digital currencies like Bitcoin and other proof-of-work cryptocurrencies by not requiring energy-intensive hardware for mining, contributing to its widespread adoption.

In a recent development in mid-October, Pi Network achieved a significant milestone by introducing utility to its network-native $PI coin through staked direct messages. This new feature allows Pi Network members, known as pioneers, to engage in direct messaging with any individual within the ecosystem.

Direct P2P messages are sent by users staking their Pi coin, thus delivering the cryptocurrency’s first significant utility.

When is Pi Network Launch Date?
When is Pi Network Launch Date?

Pi Network Continues to Offer New Features – When is Pi Network Launch Date?

After progressing through the Beta and Testnet phases, Pi Network entered the Mainnet phase in December 2021. However, instead of launching the open Mainnet, the project remained in the enclosed Mainnet phase. This decision aimed to provide developers with an opportunity to test various Pi features and build utility apps while allowing mass users to complete their Know Your Customer (KYC) verification process without complications.

As of the current status, Pi Network is still in the enclosed Mainnet phase. During this phase, Pi holders cannot interact with other blockchains using Pi, meaning they cannot trade or exchange Pi coins for other cryptocurrencies or fiat currencies.

The release of the open Mainnet is contingent on several factors, including the overall maturity of the project, progress in KYC verification, and the accomplishment of primary goals outlined by the Pi Network initiative. KYC verification is of significant importance in this process.

Despite having 47 million Pioneers in the Pi Network ecosystem, only 5.6 million (11.9%) have completed the KYC process. While the team awaits more users to complete KYC, they continue releasing new features to enhance the user experience. One such feature is the Fireside Forum, introduced on May 30, described as “a true Web3 social platform that fosters authenticity, constructive conversations, and healthier online social interactions by integrating tokenomics into the core of social interactions.”

In a recent update, Pi Network has launched a Dev Ambassador Campaign on Twitter to foster engagement with its followers. The team stated in a tweet that “The Developer Ambassador Program has made considerable progress in onboarding new developers to build Pi apps on the Mainnet Ecosystem.” This initiative signals the project’s efforts to involve developers in building applications on the Mainnet Ecosystem, further contributing to the growth and development of the Pi Network.

When is Pi Network Launch Date?
When is Pi Network Launch Date?

When is Pi Network Launch Date?

As of the latest information, the Pi Network Mainnet launch is tentatively expected in the second quarter of 2024. This projected timeline was shared in late October through an article indicating that the Pi Mainnet is likely to be launched between March and June 2024. Please note that specific dates for the Mainnet launch may be subject to change, and it’s advisable to stay updated through official Pi Network channels for the latest and most accurate information.

Notably, the article hasn’t been shared by the official Pi Network developer’s account. However, the move to share on PiNewsMedia offers a degree of clarity after an expected late October launch date was missed. We have the same question, when is Pi Network Launch Date?

Also read: Understanding Pi Network Token: Comprehensive Guide for All Your Queries

Buy your favorite crypto now