The world of cryptocurrencies is currently undergoing a rapid change, and the recent rise in popularity of blockchain technology has sparked a new wave of initiatives that aim to fundamentally alter how we utilize virtual currencies. Pi, a decentralized, open-source cryptocurrency with its own blockchain, is one of the most interesting initiatives to emerge in this digital sphere.
Verified sources claim that 10 million pioneers have finished the Know Your Customer (KYC) procedure. KYC is a procedure that businesses use to confirm the customers’ identities and make sure they aren’t engaged in any unlawful activity. The accomplishment of KYC by 10 million pioneers is a big deal since it shows that the Pi Core Team is doing a good job of keeping pioneers safe and secure. This is a crucial development in the direction of a safer and more open digital economy.
Pi Network enthusiast Kim H Wong stated on his Twitter account that;
“Pi Network’s massive KYC is continuing now; my guess is active validators validates 20 KYCs every day, and normal validator per day.” As of last I heard, 10 million pioneers have already through KYC. If 5% of the 10 million pioneers signed up to be validators, it equals 500k validators.”
According to the aforementioned guess, 6.25 million pioneers undergo KYC verification every day. It should only take 4.3 days to KYC every pioneer if there are 30 million yet to be verified.
Pi network is being built by a group of visionaries who are working to make the project a reality and accessible to the general public. The team is currently going through an extensive Know Your Customer (KYC) process that requires them to confirm the identity of every pioneer in order to do this. This procedure is required to make sure that the platform is safe and in compliance with laws.
The Pi pioneers will be able to launch their open mainnet, which will enable users to access the platform and start using the cryptocurrency, once the KYC procedure is over. This is an amazing development for the cryptocurrency community, and it will provide people who want to enter the blockchain sector with a wealth of new opportunities. For the Pi pioneers, the successful completion of the KYC procedure will mark a significant accomplishment and open the door for the launch of the open mainnet.
Overall, the Pi pioneers are now going through a protracted KYC process that, if all of the pioneers are successful in passing their KYC, will eventually open the door for an early launch of the mainnet. If the Pi pioneers are successful in completing this procedure, it will be a significant accomplishment for them and assure that the platform is safe and compatible with laws. An encouraging development for the cryptocurrency community will be the successful completion of the KYC procedure, which will open up a world of opportunities for people wishing to get involved in the blockchain realm.
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