Pi Network launched its Mainnet in December 2021, initiating a crucial phase in the evolution of the project. The Mainnet launch heralds the migration of Pioneer balances from their wallet accounts, marking a pivotal moment for Pi Network and its global community of users.
Two-Phase Mainnet Transition
Pi Network’s Mainnet transition had to occur in two distinct phases: the Enclosed Network and the Open Network. The Enclosed Network, had commenced in December 2021, signifying the initial period where the Mainnet will be operational, albeit with a firewall preventing external connectivity. During this phase, Pioneers will have the opportunity to complete KYC verification and migrate their Pi balances to the live Mainnet blockchain.
This phased approach offers several advantages, including allowing millions of Pioneers worldwide to undergo KYC verification, building and deploying additional Pi Apps, transitioning existing Testnet applications to the Mainnet, and making necessary modifications to the Mainnet and the overall ecosystem before the network becomes fully open.
KYC Verification and Balance Migration
Integral to this transition is the KYC (Know Your Customer) authentication process, ensuring the authenticity of Pioneer accounts. KYC verification is a vital step in preventing fraudulent activities, enabling Pi Network to maintain its commitment to inclusivity and genuine participation. Verified Pioneers will be allowed to transfer their Pi balances to the Mainnet, fostering a secure and genuine ecosystem.
The balance migration process will be contingent on the KYC status of individual Pioneers, their Referral Team, and Security Circle members. Only Pi balances associated with verified accounts will be eligible for transfer to the Mainnet balance. The Enclosed Network period allows time for Pioneers to complete KYC verification, ensuring a fair and equal opportunity for all Pioneers to participate in the Mainnet.
Enclosed Network: A Phase of Focused Development
During the Enclosed Network period, Pi Network will enforce certain restrictions to maintain the enclosed nature of the network. These restrictions include no connectivity between Pi and other blockchains or crypto exchanges and the accessibility of the Mainnet solely through the Pi Wallet and Pi apps on the Pi Browser. However, Pioneer-to-Pioneer transactions and transactions within Pi Apps will be allowed, enabling economic activities within the ecosystem.
The Open Network period, anticipated to commence on dates such as Pi Day (March 14, 2024) or beyond will mark the removal of the firewall, allowing external connectivity, API calls, and the operation of Community Nodes on the Mainnet. This period will represent a significant leap forward, facilitating Pi Network’s integration with other blockchains and networks, and allowing Pioneers greater control over their Pi experience.
As Pi Network progresses into this new phase, the global community eagerly anticipates the unfolding opportunities and innovations that lie ahead. The open mainnet launch will represent not only a technical milestone but also a testament to the collaborative spirit of the Pi Network community, driving the project towards a decentralized, inclusive, and vibrant future. Continue Reading
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