Pi Network has just announced that it will transition to the Open Network phase at 15:00 (UTC) on 20/2/2025, marking an important milestone in the project's development journey of over six years. This is seen as a major step, ushering in a new era for the Pi Network ecosystem with the goal of becoming the world's largest decentralized blockchain platform.

According to updates from the development team, Pi Network has recorded 10.14 million Mainnet movements, exceeding the previous target of 10 million. At the same time, more than 19 million users have completed identity verification (KYC), helping to strengthen the foundation for the Open Network phase, where Pi will begin to be widely used in real transactions.

Launched in 2019, Pi Network was promoted as a project that allows users to own cryptocurrency for free through a mobile app by checking in daily. However, the project has faced many controversies due to the prolonged "enclosed Mainnet" phase, where users could only exchange Pi internally and not trade on external cryptocurrency exchanges.

The Enclosed Network phase, which began in December 2021, was designed to build a solid foundation for the Pi Network ecosystem through important preparatory steps:

During this phase, Pi Network has organized several major events such as PiFest 2024, where over 950,000 users conducted direct transactions with 27,000 sellers and 28,000 merchants tested at 160 countries.

The Open Network phase allows the Pi Blockchain to connect with external systems, enabling users to conduct transactions with Pi outside the current ecosystem. This opens up new opportunities for both the Pioneers community and businesses, particularly in the areas of payments and e-commerce.

Businesses joining the Mainnet will need to undergo a business identity verification (KYB) process to ensure transparency and compliance. Verified businesses will be publicly listed on the official Pi Network website.

The conditions for the launch of the Open Network have been completed, including:

During the Open Network phase, Pi Network encourages the community to continue contributing and actively participating to expand the ecosystem:

The transition to the Open Network phase not only helps Pi Network expand its connections with the outside world but also marks a crucial turning point in realizing the vision of becoming a comprehensive decentralized ecosystem. With a solid foundation and a growing user community, Pi Network promises to make many breakthroughs in the global cryptocurrency market.

Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.

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Thạch Sanh