The long-awaited moment for Pi Network is finally here! On February 20, 2025, at 8:00 AM UTC, Pi Network will officially transition to the Open Network phase of its Mainnet. This milestone marks a new era for Pi, moving beyond its enclosed ecosystem into an open, interconnected world where Pioneers can engage in transactions both within and beyond the Pi Network.
A Journey Six Years in the MakingSince its inception, Pi Network has been building toward this moment with a phased approach focused on security, scalability, and utility. The current Mainnet Phase 3 began in December 2021 with the Enclosed Network, where Pi’s blockchain was live but restricted from external connectivity.
This period allowed for:-
Pioneers to complete KYC and migrate Pi to Mainnet.
– Developers to build real-world apps and utilities for the Pi ecosystem.
– The Core Team to release and improve Pi Network’s features and infrastructure.
One major step along the way was the Grace Period, enacted on July 1, 2024, which encouraged Pioneers to complete KYC and migrate their Pi before Open Network. Now, with over 19 million KYC-verified Pioneers and 10.14 million Mainnet migrations, the network has surpassed its original goals and is ready for the Open Network phase.
What to Expect with Open Network
The transition to Open Network will remove the firewall around Pi’s Mainnet, enabling external connectivity. This means Pi will be able to interact with other blockchain networks, allowing Pioneers to utilize Pi beyond the enclosed ecosystem. Key changes include:
1. External Connectivity
For the first time, Pi will be able to connect with compliant external networks and systems, expanding its real-world utility.
2. More Decentralization with Nodes
Pioneers will be invited to transition their Testnet nodes to Mainnet nodes, prioritizing those with high reliability scores. This will strengthen the decentralized infrastructure of the Pi blockchain.
3. Business & Compliance Requirements
To maintain a secure and compliant ecosystem, all participants engaging in Mainnet transactions must be verified:- Pioneers must complete KYC (Know Your Customer) verification.
– Businesses must complete KYB (Know Your Business) verification.
– KYB-verified businesses will be listed on the Pi Network website, providing Pioneers with trustworthy trading partners.
Meeting the Open Network Conditions
Pi Network set three primary conditions for launching Open Network, all of which have been met:
1. All necessary tech, product, business, and legal requirements are complete.
2. The network surpassed its original migration and KYC goals:
– Over 19 million KYC-verified Pioneers (exceeding the 15 million goal).
– Over 10.14 million Mainnet migrations (exceeding the 10 million goal).
– Over 100 Mainnet-ready apps are available to support Pi’s ecosystem.
3. No external factors are preventing the launch.
With these conditions fulfilled, the Open Network is set to launch as scheduled!
How Pioneers and Developers Can Prepare
As the Open Network phase begins, both Pioneers and developers have crucial roles to play in strengthening Pi’s ecosystem:
For Pioneers:
– Complete KYC and migrate to Mainnet if you haven’t already.
– Continue mining within the new issuance model.
– Engage with Pi Apps to help grow the ecosystem.- Use Pi for transactions with businesses and peers.
For Developers:-
Refine existing Pi Apps to enhance user experience.
– Develop new Mainnet-ready applications to expand Pi’s utility.
– Ensure compliance with Pi Network standards for ecosystem security.
The Future of Pi Network
With the Open Network, Pi Network is stepping into the global blockchain space as a fully operational and utility-driven cryptocurrency. This marks the beginning of new opportunities for Pioneers, developers, and businesses worldwide to engage in secure, real-world transactions powered by Pi.
Stay tuned for more updates on February 20, 2025, as Pi Network enters this exciting new phase. If you haven’t completed KYC or migrated your Pi yet, now is the time to get ready for Open Network!
Source – minepi