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Pi Network Milestones Indicate Significant Web3 Ecosystem Development

Pi Network, a network of tens of millions of people who mine the Pi cryptocurrency to use and develop the Web3 app ecosystem, today announced a number of milestones for the expanding company, including a notable increase in full-time Core Team members, the release of multiple apps, and new advancements to its native KYC ID review algorithms.

Despite the general decline in the cryptocurrency market, the Pi Core Team is still expanding, indicating the quick growth of the Pi Network ecosystem and its long-term goals. In crucial areas like product, engineering, and community, there has been an over 33% rise in the headcount of full-time team members since February of 2022. One of Pi Network’s most recent additions is a Senior Engineering Manager who will give its technical management extra bandwidth. The Pi Core team currently numbers around 40 people and is expanding as the network and ecosystem develop.

With the scope of work being done at Pi Network, the development of the Core Team will continue to allow for more decentralized efforts from our community’s more than 35 million active users who are all contributing to the network’s construction.

The goal of Pi Network is to enable those users to create and use utilities through its developer’s platform and Pi apps, in line with Pi’s vision of an ecosystem based on blockchain technology to support a new Web3 social network of a sizable community. An all-hands effort from Pioneers, community developers, outside partners, and the Core Team is needed to build towards that ambitious ambition, according to Chengdiao Fan, founder and head of product at Pi Network.

“By prioritizing the human aspect, focusing on building substance and adopting non-consensus long-term strategies, we’ve taken a more careful and deliberate path. We know that patience isn’t a strength in the crypto space but we’re confident in our approach: that’s why we’ve been able to continue the Network’s steady growth despite the downturn we’ve seen impacting some other crypto projects.” the team emphasized.

With several upgrades and developments, Pi Network has also made significant progress on the product and ecosystem fronts. Due to the present Mainnet’s Enclosed Network phase, Pi can concentrate on completing KYC and Mainnet Migration for the majority of the network and building the Pi ecosystem from the ground up with useful apps and utilities without undue interference from outside forces.

Pi has been rigorously enhancing its KYC ID algorithms in order to increase access to its native KYC solution, which will be formally introduced on March 14, 2022, and serve as the main method for validating Pioneers’ identities for Mainnet Migration. Since June of last year, when bulk KYC was became possible, Pi has validated more than 3.8 million Pioneers with success.

The launch of PiOS, Pi’s Open Source Software License, which enables Pi Community Developers to create open source tools and applications, and which only extends to use within the Pi Ecosystem, is just one example of the significant efforts Pi has made to develop Developer Platform features and increase community collaboration to foster Pi ecosystem growth.

The Pi “Brainstorm” app, where “Pioneers” can propose and explore different ideas and team up with like-minded Pioneers to build genuine Pi platform apps, as well as other ecosystem-related upgrades, include work on App-to-User payments and Developer Wallets for enhanced Mainnet payment flows.

In order to better source talent, ideas, and utilities for the community, Pi has also prioritized app development through apps created by the Core-Team, external commercial collaborations, and the most recent Pi Hackathon, which attracted over 6,400 participants.

“With the much-anticipated ‘Pi Day’—which celebrates the 4th anniversary of Pi’s official launch—happening this March 14, we have some exciting programs in the pipeline that we are eager to introduce to the Pioneers and developers for our decentralized efforts to build the Pi ecosystem,” said Dr. Nicolas Kokkalis, a Founder and Head of Technology.


Written by Angela Beckham

Angela Beckham has interest in Politics and Blockchain Technology. She started a research about cryptocurrency in 2017 to span through to 2027 on "replacing fiat with crypto which is yet to be completed. Presently Angela writes for NewsWay on Politics and Blockchain.

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