Pi Network (CRYPTO:PI), aiming to make cryptocurrency mining more accessible, has taken significant steps toward its mainnet launch.
The project, which allows users to mine Pi coins on mobile devices with minimal energy consumption, has faced criticism for delays in launching its token and mainnet, raising skepticism among some community members.
According to Pi Network, the launch of its Open Network will only occur after 15 million users have completed Know-Your-Customer (KYC) procedures.
As of now, 14 million “KYC pioneers” have been verified, with only 1 million more needed to reach the target, according to Pi News.
Pi Network developers initially encouraged users to complete KYC by the end of September but extended the deadline to November 30, referring to it as “the Grace Period.”
This extension followed a surge in KYC requests, prompting the team to call for more validators.
Users participating as validators and contributing accurately have been promised Pi tokens as a reward.
The project’s developers also introduced Pi Node Version 0.5.0, described as a significant update for preparing nodes for the mainnet.
The update transitions nodes to the Testnet2 blockchain, simulating the Mainnet environment and testing the shift between Testnet and Mainnet blockchains.
The original Testnet will remain operational for Pioneers and Pi app developers for now but will eventually phase out for node use.
“Original Testnet will continue functioning as normal for Pioneers and Pi app developers,” the team disclosed.
The community remains divided, with some expressing optimism about the mainnet launch and others voicing doubts, fearing further delays or questioning the project's legitimacy.
At the time of reporting, the Pi Network (PI) price was $65.12.