Examination of social cryptocurrencies reveals many recent achievements and exciting future
On March 14, 2022, Pi Network celebrated its 3rd anniversary with important announcements and updates. Since last year’s Pi Day, the network has defined plans for the future and made progress in technology, product and community growth.
Pi Network Growth 14/14/2021 to <>Month<>Day 2022
Pi Network has had an amazing year, full of achievements, achieving its roadmap goals and increasing the usefulness of the network. Last year, Pi Network launched its closed mainnet, released three updated draft whitepaper chapters, and advanced decentralization on the network by growing to over 10,000 active testnet nodes. Additionally, the Pi community grew from 15 million to over 33 million users (known in the community as “pioneers”).
During the same period, the Pi ecosystem has evolved with the launch and iteration of multiple Pi Network applications and features, including Pi KYC, Brainstorm, Pi Browser, Pi Wallet, Pi SDK, and Pi Blockexplorer.
Going forward, Pi Network aims to accelerate the community’s large-scale KYC process, migrate its users’ balances to the mainnet, develop an application ecosystem on its platform, and migrate to the Open Mainnet.
Closed mainnet launch
The closed network period for the Pi blockchain mainnet will go live on December 28, 2021. Here, the firewall prevents any unwanted external connections to the mainnet. This closed mainnet cycle allows millions of pioneers time to build utility-based Pi applications through KYC and the community. The closed network period also provides an opportunity for the network to test, collect data, and iterate over the mainnet and Pi ecosystem before launching an open network in the future.
Updated White Paper Draft
Updated whitepaper chapters are published with the mainnet launch. These chapters detail the Pi Network mainnet roadmap, new mining rewards, and token model. These chapters are in draft form and continue to be updated based on community feedback and data collected during the mainnet closure.
Last year, the network grew to over 10,000 active testnet nodes. In addition, thousands of pioneers are running Node desktop applications and blockchain containers on a waiting list every day. While not all nodes run the Testnet consensus container, they all provide the network with important data and infrastructure to enable multiple iterations of the Node software and Testnet. Once the mainnet open network period starts, such community nodes will be able to participate in securing the Pi mainnet blockchain.
The network hosted its first #buildPi2gether hackathon between June 28, 2021 and September 20, 2021, with thousands of pioneers participating. Pioneers have submitted many projects with various use cases. A few are rewarded for their outstanding contributions.
The development of the novel Pi KYC App started and continued throughout the year. The app aims to be a decentralized and scalable KYC solution that combines machine automation and crowdsourced human verification. This KYC solution optimizes accuracy and privacy, while enabling accessibility, scalability, and broad coverage for millions of people. The team developed several features and versions between test rounds, such as an improved obfuscation algorithm that hides Pioneer’s data from human validators, immediacy checks to verify that real people are applying, and increased processing speed to ensure timely Upload documents for Pioneers and more. With multiple rounds of testing completed, Pi Network has now rolled out its KYC app at scale (see Pi Day announcement below!).
In 2021, Pi Network develops and releases a growing ecosystem of apps and features that will support Pioneers as Mainnet further develops.
Launched in April 2021, the Pi Browser aims to create a more open and direct Pi Utilities platform for Pioneers and community developers to interact with and build on. In the Pi Browser, Pioneers can access the Pi KYC app and other apps being created by community app developers. As the ecosystem develops more and more apps with real use cases and utilities, Pioneers will be able to spend Pi on apps of their choice.
Since its launch, the Pi Browser has seen many enhancements and additions, such as the addition of notifications and deep links. New features will continue to be built and rolled out over the coming year.
Announced on Pi Day 2021, Pi Wallet provides Pioneers with a non-custodial method to hold their Pi. At launch, the wallet allows Pioneers to interact with the Testnet blockchain by creating Test-Pi transactions. To illustrate the community’s transition to mainnet, Pi wallets have been updated so that Pi wallets can switch between viewing the mainnet and testnet blockchains and are ready to receive their Pi balances on mainnet.
The Brainstorm app – where pioneers come up with Pi Apps ideas, join existing projects and collaborate with other pioneers to join their projects – launches ahead of Pi Day 2021. Over the course of the year, the Brainstorm app has seen many updates and functional changes to host a massive global online hackathon and UI improvements based on community feedback. More updates to Brainstorm are coming in 2022, so keep an eye out for some exciting news coming later this year!
The Pi SDK, which enables developers to build apps that integrate with the Pi ecosystem, was released on June 28, 2021 (Pi2Day). This enables developers to communicate with the Pi blockchain to create payments, and to communicate with Pi servers to verify consent from Piers. Additional features are planned for the coming year, which will allow developers to add functionality to their apps.
Pi Blockexplorer was first launched in October 2021 to provide testnet visibility. Since the mainnet launch, Pioneers have also been able to view transactions, accounts and blocks on the mainnet blockchain. Pioneers can check their Pi balances, transaction status, and the general state of the Pi blockchain.
Pi Day Announcement
Pi Day 2022 brings some exciting news! The Pi Core team has announced the release of two important new features: (1) the launch of the long-awaited large-scale KYC solution, and (2) a new Pi mining mechanism that allows for provisioning based on lock settings, application usage, and node hosting More diverse mining rewards.
The Pi KYC app is available as it becomes available, allowing pioneers around the world to submit apps at scale, and the number of app slots is expected to increase steadily. When Trailblazers receive a slot to submit an application, they will receive an in-app alert. The slots are chosen randomly and will not be allocated in any order. We understand that all Pioneers would like to submit their applications and migrate to mainnet, but please be patient while all Pioneers have slots available to avoid system clutter when dealing with millions! Given that machine automation is scaling as needed, network KYC speed is now largely determined by how many good human validators each local community has to handle the human verification step of the KYC solution. Therefore, joining the workforce of human validators means speeding up the KYC of the network.
Pi KYC solution combines machine automation and human verification for accurate and efficient KYC for everyone. Machine automation will take care of image processing, text extraction, fake ID detection, liveness checking and image comparison. A human verification process, in which pre-approved human validators check edit data from other Pioneers’ KYC apps, has also been launched this Pi Day.
Another major announcement is that Pioneers now have access to new mining rewards that increase individual mining rates derived from various types of contributions to the network, such as app usage, node operations and Pi locks, as well as former masters Network rewards, such as safety circles and referrals. Locking Pi while ecosystem utilities and use cases are being developed, regularly interacting with Pi applications, and hosting a large network of nodes are critical to both the security and decentralization of the Pi blockchain and the stability and utility of the Pi ecosystem.
Over the next few months, the Pi Network has several upcoming releases that Pioneers should take note of.
KYC applications are self-sufficient in the ecosystem. Pioneers 1 Pi need to spend 1 Pi to process their application. Additionally, pioneers who are fully KYC certified will soon be able to apply to become their country after agreeing to the app’s terms of service, training their verification skills through tutorials, and having their initial work peer-reviewed by trusted validators or a KYC validator in the region. Since the work of these validators is constantly cross-validated to prevent bad actors, providing validation that is consistently inaccurate will result in removal from the workforce pool. Good verification work will be rewarded with Pi paid by KYC applicants.
Node consensus container
During the closed network period, the consensus container of the testnet will be open to all community nodes. This will give pioneers who want to maintain copies of the ledger the opportunity to set up and monitor node performance. Doing so is important for Pioneers to verify that their nodes can effectively handle the parameters of the testnet blockchain. This will help ensure that pioneers will be able to host the Pi Mainnet blockchain with their nodes after the firewall is removed and the open network is up.
Further development of the Pi ecosystem
Pi Network is ramping up efforts to grow community app development on the Pi Browser to create real utility and use cases in the Pi ecosystem. This will include possible future hackathons and other developer programs to help developers get onto the Pi developer platform. The core team will also develop the Pi application.
After a sufficient number of Pioneers are KYC verified, the network will begin transferring the mobile mining balances of the KYC verified Pioneers to the closed mainnet blockchain. These pioneers will then be able to use their Pi within the internal Pi ecosystem. In order to qualify for the mainnet migration, Pioneers need to complete all steps on the Mainnet Checklist located in the Mainnet tab of the Pi App. This includes setting up a Pi Wallet via the Pi Browser, choosing a lock configuration, and submitting and delivering KYC applications.
After the large-scale migration of the main network occurs and the Pi ecosystem is fully developed, the Pi network will enter the open network period of the main network, and the firewall will be removed from the closed network period. This will allow external connections, for example, to other networks and anyone who wants to connect to the Pi mainnet. Removing the firewall will allow direct access to the blockchain, and community mainnet Pi nodes will be able to run the mainnet blockchain.
Pi Network saw strong growth and development in Pi last year. The community is excited about the upcoming mainnet migration, the development of the application ecosystem, and the move to the open web. Unlike other cryptocurrency networks, Pi has had significant community support right from the start. Pioneers protect and grow the web as they mine Pi on the phone, and they have been providing vital feedback as the web grows and iterates to improve their technology and products. With so much anticipation, the next year of Pi is crucial and calls on Pioneers to make more diverse contributions to the network to make it a success.