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KYC SLOT: Core Team says millions of pioneers will pass KYC as the Pi Network is ramping up to the fully open Mainnet

The pi Network Core Team recently tweeted the benefits of having an intermediate confined time to ramp up to a completely open Mainnet, indicating that the Mainnet debut is getting closer.

Some of the advantages highlighted by the Pi Core Team are:

  • Million of pioneers worldwide to pass KYC.
  • Building and deploying more Pi Apps and allow more utilities to be created and used.
  • Transitioning Pi Apps deployed on the testnet to the mainnet.
  • Iterating on any modifications and adjustments to the mainnet and the ecosystem before the open network.

The enclosed mainnet

During the enclosed network time, the Mainnet is operational but protected by a firewall to prevent unauthorized external connectivity. Pioneers will have time to migrate their Pi to the active Mainnet blockchain and complete their KYC.

Any balance that has been transferred to the Mainnet can be transferred to other Pioneers, used to buy products and services in Pi applications, or it can be locked up for a period of time to have a greater mining rate.

Pioneers who have completed the KYC process will have unrestricted access to their Pi on the Mainnet when using the Pi Network. The Pi blockchain will not, however, be able to link to other blockchains at this time.

The white paper also attest to this facts

Millions of Pioneers have time during the Enclosed Network period to complete their KYC processes and move their Pi to the Mainnet. Only a limited percentage of Pioneers were able to finish their KYC in time for the Mainnet launch.

Core Team will continue to provide the KYC solution and assist additional Pioneers in completing their KYC over the upcoming months. The Pioneers who were able to complete their KYC before others would have Pi available for usage outside of the Pi platform, whereas the Pioneers who are still awaiting their KYC would not yet have this privilege if we moved straight from Testnet to Open Network.

The speed at which each local community produces the KYC validator crowd work force as well as the speed at which individual Pioneers participate in the KYC will determine the speed at which Pioneers around the world are able to finish their KYC.

Millions of Pioneers will have enough time thanks to the Enclosed Network period to finish their KYC and transfer their Pi to the Mainnet. This allows all Pioneers who are ready and able to finish their KYC within a reasonable amount of time to use their Pi simultaneously outside of the Pi platform.

Given that during the Enclosed Network time, external interaction between the Pi Blockchain and other blockchains or systems is not permitted, this makes it easier for Pioneers to concentrate on switching to Mainnet without interference from factors outside the Pi Blockchain.


Written by Newsway

NewsWay reporters are Media employees of the vested with the responsibilities of getting informative data from verifiable sources and publishing same undistorted on behalf of the NEWS WAY INFO-TECH which is a parent company that birthed the NewsWay blog.

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