New Digital Currency Pi Network Officially Launched, Sparking Debate

Kapanlagi.com - Pi Network, the digital currency project that is currently shaking the world's attention, officially launched the Open Network on February 20, 2025! This launch marks a new chapter following the Enclosed Mainnet phase that began in December 2021, bringing us towards a more open ecosystem connected with various external platforms. With over 19 million users having verified their identities, Pi Network is ready to move forward in this promising journey.

However, behind this euphoria, the launch of the Open Network has not escaped critical scrutiny. Several industry experts have expressed concerns regarding the operational model of Pi Network, which is considered similar to a pyramid scheme. They noted the referral-based mining mechanism and the lack of clarity regarding monetary value as key factors triggering these concerns.

Nevertheless, the Pi Network community warmly welcomed this launch. They are optimistic that this step will open doors for broader adoption and integration with external systems, thereby enhancing the utility and value of Pi Coin in the future.

1. Pi Network Officially Launches Open Network

On February 20, 2025, Pi Network officially launched the Open Network, marking a significant step from the Enclosed Mainnet phase that has been running since December 2021. In an exciting official announcement, the Pi Network team revealed that this move opens the door for external connectivity on the Mainnet blockchain, allowing Pi to interact with networks and systems outside its previously closed ecosystem. As a result, users can now conduct transactions beyond the scope of Pi, expanding the potential and reach of Pi Coin.

During the Enclosed Mainnet phase, Pi Network focused on verifying user identities through the Know Your Customer (KYC) process and application development by developers. With over 19 million users already verified and more than 10.14 million migrations to the Mainnet, Pi Network feels ready to open access to a broader network.

The launch of the Open Network also provides an opportunity for anyone to add nodes to the Mainnet blockchain, which will significantly enhance the decentralization and security of the network. The Pi Network team will gradually invite users to transition their nodes from Testnet to Mainnet, prioritizing those who have contributed and have high reliability scores.

Overall, Pi Network operates in three main stages. The first stage, Pioneer, allows users to download the app and start mining, where the mining speed will increase as they invite friends to join. Then, the Validator stage involves active users in verifying transactions, playing a crucial role in maintaining the security of the network. Finally, the Ecosystem stage promises broader access and trading opportunities for Pi Coin in the open market.

2. How Does Pi Network Work?

The Pi Network system offers an exciting innovation with proof-of-stake and proof-of-consensus mechanisms, making mining very lightweight and mobile-friendly. This uniqueness has successfully attracted the attention of millions of users worldwide, although its popularity does not guarantee long-term success.

Currently, the value of Pi Coin is still limited as it has not been widely traded and its use is still confined within the internal ecosystem of the application.

Controversy surrounds its launch, with some experts expressing concerns about its operational model, which is seen as resembling a pyramid scheme, particularly the referral-based mining mechanism that encourages users to invite others to speed up the mining process.

Uncertainty regarding the official monetary value of Pi Coin further adds to doubts about the legitimacy of this project, with analysts urging Pi Network to be more transparent and compliant with regulations to avoid legal issues.

However, the Pi Network team remains optimistic, believing that building a solid community before fully opening access to the market is a strategic step that will make Pi Coin valuable and beneficial in the future.

3. Is Pi Network Safe?

The debate regarding the status of Pi Network—whether it is a scam or a legitimate project—is still being discussed fervently. Skepticism arises alongside the ease of mining and the enticing promises of profit, yet behind that, the ever-increasing number of users indicates an interest that cannot be ignored.

Colin Wu, a prominent blockchain journalist who often discusses the crypto market in China, does not hesitate to warn about the potential risks lurking for Pi Network users. He emphasizes the importance of careful consideration before diving deeper, suggesting that investments in Pi Network should be made wisely and after thorough research.

“Regarding PI, if you still want to occasionally return to solid ground, I advise you not to report or touch it,” he said, quoting beincrypto.com.

4. People Also Ask

What is Pi Network?

Pi Network is a digital currency project that allows users to mine Pi coins through a mobile app without specialized hardware.

How does mining work in Pi Network?

Users simply need to press a button in the app every 24 hours to mine Pi coins, without draining battery or internet.

Does Pi Network have an official value?

As of now, Pi coins do not have an official value in the market because they are still in the development stage and have not entered major crypto exchanges.

Is Pi Network legal and not a pyramid scheme?

Pi Network was developed by Stanford graduates, but its referral mechanism raises debates regarding similarities to pyramid schemes.

When will Pi Network be officially launched?

Pi Network plans to launch the Open Mainnet in the first quarter of 2025, but no specific date has been announced yet.

(kpl/rmt)