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Pi Network introduced the Tentative KYC program

The preliminary Pi Network KYC approval is a crucial step towards Pioneers’ full verification. Prior to completing full KYC, the program makes sure Pioneers go through multiple verification procedures. As a result, it does not imply complete endorsement.

Pi Network will not be able to access features like validator registration and mainnet migration because it has not received complete permission. If Pioneers are approved following completion of additional verification procedures, the protocol will open them. The program was launched by the Pi core team in an effort to integrate more actual people into its ecosystem and increase its capacity for thwarting bots and phony accounts.

Following application, if Pioneers observe “Tentative Approval” on the KYC screen, it signifies that additional checks and verification are still being conducted. The extra inspections can take a variety of amounts of time to complete, though. Additionally, the extra inspections vary based on each specific case.

“Factors that can impact the timing include the volume of KYC applications being processed, availability of human validators of the region, complexity of the application, and types of additional checks applied to the tentative KYC case,” the blog read.

In conclusion, the tentative KYC program is to confirm the authenticity of data and accounts through additional checks. Once the checks are complete, the Pioneer will see “KYC Passed.” The majority of Pioneers who do not see the tentative KYC screen may still pass KYC directly without the additional checks, if accepted.

“For the majority of applications that are outside of the Tentative KYC program, they will directly see the “KYC passed” screen without the additional checks, if they are accepted,” Pi Network wrote. 

What is Pi Network?

Pi Network is a novel cryptocurrency and developer platform allowing mobile users to mine Pi coins without draining the battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (Dapps) for millions of users.

Rebecca Ahoame

Written by Rebecca Ahoame

Rebecca is a Student of the Federal University Lafia, Nasarawa State, North-Central Nigeria. She has passion for writing and research. Rebecca writes for NewsWay on Business and Finance.

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