Pi Network Mainnet Launch

The Pi Network mainnet launch is a big milestone for the mobile-based cryptocurrency project. The mainnet launch marks Pi’s transition from an enclosed ecosystem to an open, interoperable blockchain. This article will explore the Pi Network's mainnet launch, its tokenomics, and the ecosystem it has built. Read on to learn what this development means for the Pi Network and its users.

Key takeaways:

• Pi Network's Mainnet Launch marks its transition from an enclosed ecosystem to an open, interoperable blockchain, enabling external transactions and exchange listings.

• Pi Network uses mobile mining and a trust-based consensus algorithm to make cryptocurrency accessible to everyone through smartphones.

• The open mainnet enables developers to deploy decentralized applications (DApps) on the Pi blockchain, expanding the ecosystem's utility and offering diverse use cases for Pi coins.

What is Pi Network?

Pi Network is a cryptocurrency project that makes digital currency accessible to everyone through mobile mining. Launched on March 14, 2019 (Pi Day), by a team of Stanford PhDs, Pi Network has grown into a community of tens of millions of users worldwide. Pi operates on its proprietary blockchain, using a consensus algorithm based on a trust graph, which enables users to mine cryptocurrency directly from their smartphones without major energy consumption or specialized hardware.

Pi Network offers a greener, more accessible alternative to traditional mining. Pi is user-friendly, enabling people with no technical expertise to participate in the crypto economy. Pi’s inclusive approach has led to rapid growth, with Pi Network claiming over 60+ million engaged members.

Pi Network’s vision is to build the world's most inclusive peer-to-peer ecosystem and online experience. The Pi Network is fueled by Pi, which aspires to become the world's most widely distributed cryptocurrency. To achieve this, the network is focusing on creating a robust utilities-driven Web3 ecosystem. The ecosystem will include a marketplace, where users can buy and sell goods and services using Pi coins, and an expanded range of Pi apps to provide various services.

The Journey to Mainnet

Pi Network's development has progressed through several phases:

1. Beta: Launched on March 14, 2019, focusing on user acquisition and testing the mobile mining application.

2. Testnet: Began on March 14, 2020, involving extensive testing of the blockchain and consensus algorithm.

3. Enclosed Mainnet: Started in December 2021, with a firewall preventing external connectivity. The enclosed mainnet phase enabled Know Your Customer (KYC) verification and Pi migration to the live mainnet blockchain.

4. Open Mainnet: Launched on February 20, 2025, removing the firewall and enabling external connectivity.

The Significance of the Mainnet Launch

The Pi Network Mainnet launch is an important step in the project's evolution. Pi’s transition brings several key changes. Pioneers (Pi Network users) can now transfer Pi coins to external wallets, enabling real-world transactions and integration with other blockchain platforms. The open mainnet enables Pi coins to be listed on major cryptocurrency exchanges, increasing liquidity and trading opportunities. Developers can now deploy decentralized applications (DApps) on the Pi blockchain, expanding the ecosystem and offering diverse use cases for Pi coins. The Pi Network can now interface with other compliant networks and systems, expanding its reach and utility.

Pi Network Tokenomics

• Mobile mining: Pi Network uses a unique approach to cryptocurrency mining, enabling users to mine Pi coins directly from their smartphones without significant energy consumption.

• Consensus algorithm: The network employs a consensus algorithm adapted from the Stellar Consensus protocol (SCP), which relies on a trust-based network rather than energy-intensive proof-of-work systems.

• Meritocratic rewards: Users can increase their mining rate through activities like building security circles, inviting new members, and engaging with Pi apps.

• Supply and inflation: Pi's circulating supply has reached 6.8 billion, with concerns about potential inflation owing to the lack of a clear supply cap.

The Pi Ecosystem

The Pi Network ecosystem comprises several key components. The mobile app is the core of the network, enabling users to mine Pi and interact with the ecosystem. With the mainnet launch, developers can now build and deploy DApps on the Pi blockchain, expanding utility for users. Users can run nodes to support the network's operations, with the recent Node 0.5.1 update optimizing performance and preparing for public node ranking. To ensure security and regulatory compliance, the network requires Know Your Customer (KYC) verification for users and Know Your Business (KYB) verification for businesses interacting with the mainnet. The mainnet launch also enables integration with centralized exchanges (CEXs) and onramps, providing additional means of acquiring and using Pi.

How to Deposit Pi to Your Trust Wallet Address

You can easily also deposit Pi from another Pi wallet or from a centralized exchange, where supported. Here’s how:

• Select “Receive” from the home screen.

• Search for “Pi Network” or “Pi” and select it.

From here you have two options. You can either:

1. Copy your deposit address and use that on your exchange account or other wallet to send funds to.

2. Use the “Deposit from exchange” option to deposit crypto from your exchange account.

Challenges and Considerations

The mainnet launch is an impressive achievement but Pi Network faces several challenges. Despite claiming over 70 million users, blockchain explorers show only 9.11 million wallets, suggesting potential discrepancies in active user numbers. The lack of a clear supply cap and potential inflation could affect Pi's long-term value. As Pi becomes tradable on exchanges, there's uncertainty about how its value will stabilize, given the speculative nature of current IOU trading. Despite its decentralized branding, Pi Network's core team still maintains significant control over the network.

Conclusion

The Pi Network Mainnet Launch is a pivotal moment in the project's development, opening up new possibilities for its ecosystem and users. When Pi Network enabled external transactions, exchange listings, and broader connectivity, it moved one step closer to fulfilling its mission of creating an accessible, utility-driven cryptocurrency. The transition empowers Pioneers to use their Pi coins in real-world transactions and enables developers to build decentralized applications on the platform. As Pi Network navigates this new phase, its unique approach to mobile mining and focus on community engagement position it to make a lasting impression on cryptocurrency.

Disclaimer: Content is for informational purposes and not investment advice. Web3 and crypto come with risk. Please do your own research with respect to interacting with any Web3 applications or crypto assets. View our terms of service.

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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.