When is Pi Network’s Launch Date? Is 2024 The Year of the Pioneer?

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Pi Network has gained massive attention within the cryptocurrency community. With its unique approach to mining directly from a phone and its potential as a legitimate payment project, Pi Network has accumulated a substantial following.

There are now 55 million active community members— a population size that beats many countries — including 10 million KYC‘d ‘Pioneers’ and 3.3 million Twitter followers.

If Twitter metrics alone were the important thing, it places the Pi Core Team account neck-and-neck with the Ethereum Foundation account.

But Pi is more than that, looking to become a payment system once it hits its full launch.

Yet, that’s the question that lingers in the minds of many: the Pi Network launch date, when the ecosystem moves from a closed, beta ecosystem into an open network that can be used across exchanges and other blockchains.

Key Takeaways

  • Pi Network continues to catch attention for its phone-based mining approach and potential as a payment platform.
  • With anticipation growing for its Open Mainnet launch, slated for 2024, the project aims to unlock its full blockchain potential.
  • The team has highlighted some milestones that will lead to the full mainnet launch, and
  • 10 million ‘Pioneers’ have KYC’d into the project, and the network boasts 3.3 million followers on Twitter/X.

When is the Pi Network Mainnet Launch?

2024 seems to be the year for the army of ‘Pioneers’ around the world, with just a few key milestones to go. The team calls it “The Countdown to Pi Open Network 2024”:

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While some news sources speculate a June 28 Pi launch date, this looks to be false information, sparked by the same rumored date in 2022.

From the team’s official Pi Network account, they have simply outlined 2024 as the year for the mainnet launch.

The team also suggested some goals — on a page cunningly called “mainnet2024” — that they wish to pass before launching Open Mainnet, including:

  • 15 million Pioneers passing Know Your Customer (KYC) checks
  • 10 million Pioneers migrating to beta mainnet.
  • 100 mainnet-ready apps.

If Mainnet’s date is dependent on reaching those milestones, the wait may still not be too long.

10 million ‘Pioneers’ have carried out (KYC) checks — an increase of 1.45 million between December 2023 and March 2024, and around 50 apps — from chats to forums to browsers — are thought to be mainnet-ready.

Meanwhile there have been 4.6 million mainnet migrations by users — up from three million in December.

 

Why Pi Matters

Pi Network is a blockchain project that aims to democratize mining by making it accessible to anyone with a desktop or mobile device. The project’s native token is Pi Coin, which the team expects to be utilized for everyday transactions.

Users can mine Pi coins using their smartphones. All they need to do is click on a button within the Pi Network app every 24 hours to show their active participation within the network.

Notably, unlike traditional digital currencies such as Bitcoin (BTC) and other proof-of-work (PoW) cryptocurrencies, Pi coin does not require energy-intensive hardware to mine it. This explains why the token has been exceptionally successful in attracting a vast network of miners.

Why is Pi’s Open Mainnet A Big Deal?

The Open Mainnet stage will allow Pi users to exchange their Pi coins with other cryptocurrencies and fiat currencies. Furthermore, it opens the door for developers to innovate, creating utilities and applications atop the network’s robust framework.

Despite the excitement surrounding this announcement, the Pi Network team is proceeding with caution. They claimed that a hasty transition could undermine the community’s achievements to date.

In light of this, they have determined three conditions that must be met to ensure the Pi coin launch date. Here are the three prerequisites that should be met before the transition happens:

  1. Comprehensive Preparations: The team underscored the need to complete all crucial technological, product, business, and legal preparations. While the technical roadmap is largely in place, efforts are ongoing to enhance network security, stability, and scalability.
  2. Decentralization Milestones: A central goal is to acquire 15 million KYC-verified users and migrate over 10 million Pioneers to the Mainnet blockchain. Additionally, the development of at least 100 high-quality, diverse utilities and applications is critical for establishing Pi’s viability as a currency.
  3. Optimal External Conditions: As a global cryptocurrency initiative, Pi’s success is intertwined with the broader world context. Therefore, the team said factors such as geopolitical stability, regulatory developments, industry trends, and the absence of global crises are pivotal in determining the timing of the Pi mainnet launch date.

Pi Network’s X Account Surpasses 3.3 Million Followers

Pi Network’s X account has achieved yet another milestone by surpassing 3.3 million followers. The achievement solidifies Pi Network’s position as one of the fastest-growing projects with a massive community in the blockchain space.

On February 9, Pi Network announced that they had reached the 3 million follower milestone on X. At the time of writing, the project has onboarded another 300,000 users.

It is worth noting that Pi Network has outpaced other established cryptocurrencies like Solana, Cardano, Avalanche, and Tron, all of which have less than 2.5 million followers on X.

The growing number of followers on Pi Network’s X account reflects the increasing interest and support for the project. And in crypto, community is one of the key strengths that every project needs.

It’s going to be a fascinating year for Pioneers.

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Ruholamin Haqshanas
Cryptocurrency journalist
Ruholamin Haqshanas
Cryptocurrency journalist

Ruholamin is a crypto and financial journalist with over three years of experience. Apart from Techopedia, he has been featured in major news outlets, including Cryptonews, Investing.com, 24/7 Wall St, The Tokenist, Business2Community, and has also worked with some prominent crypto and DeFi projects.  He holds a Bachelor's degree in Mechatronics. Ruholamin enjoys reading about tech developments, writing, and nature-watching