The pi network mainnet launch date is reportedly still scheduled for 2024, but time is running short as we approach the end of the year. As the last few weeks of the Pi Core Team’s “coming soon” mainnet grace period for users approach, the idea of a move to the full project launch seems both closely linked and far away simultaneously.
Many people are interested in Pi Network because it has a unique way of mining straight from a phone and could be used as a real payment system. They are watching to see if Pi’s dream of a payment system can come true. One thing is for sure: the project has done a great job of getting people to use its mobile mining setup. Can the Pi Team make that work in all of its products? Let’s look around.
Key Takeaways
- Core team hints say that Pi network mainnet launch date is at the end of 2024, but no official pi network mainnet launch date has been set.
- The project had over 55 million users as of September 2024, with 13 million “Pioneers” who had been KYC-verified.
Pi Network lets people mine its cryptocurrency on their phones to make mining easy and available to everyone. Pi Coins ($PI) can be traded for other cryptocurrencies and fiat currencies on the open mainnet. The Pi Team launches the “Pi App Incubator” to prepare for the full launch. But don’t be shocked if the mainnet doesn’t start up until 2025.
Pi Network’s Network Effects
The Bitcoin community has paid a lot of attention to the mining project. As of September 2024, the project had 3.3 million fans on X and 55 million active community members, more people than many countries. Thirteen million KYC “Pioneers” make up this number.
If Twitter fans were the only thing that mattered, the main Pi Network account and the Ethereum Foundation account would be tied for first place. As of August 2024, both accounts had 3.4 million followers on X.
Pi is more than that, though. Its goal is to build a Web3 environment with real-world apps and tools that tens of millions will use. The team says there are 60 million active Pioneers, and in September 2024, they asked partners to use the ecosystem.
There is still one question that many people have: when will the Pi Network launch? At that point, the ecosystem will change from a closed test ecosystem to an open network that can be used on platforms and other blockchains.
When is the Pi Network Mainnet Launch?
Expected: Pi Network mainnet launch date is expected at the end of 2024, 2024 still looks like the year for the army of “Pioneers” worldwide. There are still a few important events left to happen.
The Pi team hopes to have 100 apps ready for the mainnet by the time of the full launch, which we’ll talk about below. The Pi App Incubator, which started on September 13, 2024, looks like a big step toward getting people to use apps.
The team’s plans are called “The Countdown to Pi Open Network 2024,” which is a name that makes you think.
As part of its move toward the open network phase, Pi Network revealed a “Know Your Customer” (KYC) pause period in July. This gave more Pioneers more time to finish their KYC and move to the mainnet.
Since the delay period ends on September 30, 2024, Pioneers naturally see that date as a possible date for the mainnet news. However, we advise people to be careful and wait for team updates.
The team also recently announced the addition of a new on-chain lockup feature for the Pi Wallet. This feature increases the mining rate for Pioneers who successfully move to the mainnet and lock up their PI. That same day, parties for “Pi2Day” were meant to get more people over the limits (see below) to start the mainnet.
On a page cleverly named “mainnet2024”, the team has listed goals they want to reach before starting Open Minnet. These include:
- 15 million Pioneers passing Know Your Customer checks
- Ten million Pioneers are moving to the test mainnet.
- 100 apps ready for the mainnet.
So far, things are going well:
Why Pi Matters
Pi Network is a blockchain project that wants to make mining more open to everyone by letting anyone with a computer or phone do it. Pi Coin is the project’s original coin, and the team hopes it will be used for everyday activities. People can mine PI with their phones. To show that they are still using the network, they have to click on a button in the Pi Network app every 24 hours.
One important difference is that mining Pi Coin does not require gear that uses a lot of power, unlike mining Bitcoin (BTC) and other proof-of-work (PoW) cryptocurrencies. The token has been so good at getting many miners interested in it.
Why is Pi Coin Open Mainnet A Big Deal?
Users of Pi will be able to trade their Pi Coins for other coins and regular money at the Open Mainnet stage. It will also let developers develop new ideas by building tools and apps on the network’s strong framework.
The Pi Network team is careful, even though this news of pi network mainnet launch date has caused a lot of excitement. They argued that a quick change could undo what the community had done so far. Because of this, they have devised three things that must happen before the Pi Coin launch date.
Right now, Pioneers who hold Pi Coin have an IOU coin. The team says these will be changed for an approved token that can be used on crypto exchanges when the mainnet goes live. Before the change can happen, these three things must be in place:
- Full Preparations: The team stressed how important it was to finish all the important legal, business, technical, and product preparations. The technology plan is mostly set, but work is still being done to make the network safer, more stable, and able to grow.
- Decentralization Milestones: One of the key goals is to get 15 million people who have been KYC-verified and move more than 10 million Pioneers to the mainnet blockchain. Pi’s usefulness as a currency also depends on creating at least 100 high-quality, different tools and apps.
- Optimal External Conditions: Pi’s success is tied to the bigger picture of the world because it is a global coin project. So, the team said that things like international security, regulation changes, industry trends, and the lack of global disasters are very important in deciding when the Pi mainnet will start.
Pi Network’s X Account Surpasses 3.3 million Followers
Pi Network’s X account reached a new milestone earlier this year when it got more than 3.3 million fans. The accomplishment makes Pi Network even more of one of the blockchain projects with the largest communities and fastest growth.
Pi Network said on February 9 that they had hit the 3 million following mark on X. As of September 2024, 300,000 more people have joined the project.
Interestingly, Pi Network has grown faster than well-known cryptocurrencies like Solana, Cardano, Avalanche, and Tron, which all have less than 2.5 million fans on X.
The project is getting more attention and support, as shown by the rising number of fans on Pi Network’s X account. And in crypto, community is one of the most important things every project needs.
FAQs
Conclusion
Now is either the beginning or the end for Pi Network. If there are delays, the mainnet start will not happen until 2025. The project will have been going for 2,000 days in September 2024, so this has been a long time coming. After a few more trips around the sun, we’ll find out where we are.
