jfid – Pi Network, a crypto project enabling users to mine Pi coins via smartphones without draining battery, has reached a crucial stage in its development. After successfully completing the Beta and Testnet phases, Pi Network entered the Mainnet phase in December 2021. However, instead of launching an open Mainnet, the team remained in a closed Mainnet period.
What is a closed and open Mainnet? A closed Mainnet occurs when the Pi Network blockchain operates independently without connecting to external networks, such as crypto exchanges or other wallets. An open Mainnet is when the Pi Network blockchain integrates with external networks, allowing Pi coins to be freely traded.
The Pi Network team states that the purpose of the closed Mainnet is to give pioneers (early users) the opportunity to develop the ecosystem and accumulate Pi coins before the open Mainnet launch. Additionally, the closed Mainnet is useful for testing and improving various technical and operational aspects of the Pi Network blockchain.
One aspect being tested is the price of Pi coins. The Pi Network team mentions that they don’t unilaterally set the Pi coin price but rather through global consensus among pioneers. Pioneers from each country discuss to agree on the Pi coin price to be used at the open Mainnet launch.
Some countries propose a Pi coin price of $100, while others suggest $6,000 for 1 Pi coin. The lowest proposed Pi coin price comes from pioneers in Thailand at $0.36. However, the most surprising proposal comes from China, with pioneers suggesting a Pi coin price of $314,519.
The Pi coin price in China has stirred the global crypto community, especially in Indonesia. With 1 Pi coin equaling Rp 4,712,385,000 using a USD to Rp 15,000 exchange rate, the excitement is understandable.
With such a high price, someone owning 10 Pi coins could buy a luxurious house in Jakarta. Even with just 1 Pi coin, someone could purchase a new car from a dealer.
Of course, the Pi coin price in China may not necessarily be the official price at the open Mainnet. The Pi coin price can still change based on market demand and supply.
However, this demonstrates the enthusiasm of Chinese pioneers for the Pi Network project. They believe Pi Network will be a revolutionary crypto that can surpass Bitcoin, the current most expensive crypto.
So, when will the Pi Network open Mainnet be launched? The Pi Network team hasn’t provided a specific date, but they state they are working hard to prepare everything. They also mention releasing a product roadmap in two versions, the first in October 2023 and the second in December 2023. This roadmap will detail the history, achievements, and future plans of Pi Network.
Meanwhile, Pi Network pioneers can still mine Pi coins through their smartphone apps. However, caution is advised when buying or selling Pi coins on crypto exchanges.
The Pi Network team notes that all Pi coin listings on crypto exchanges are independent and not approved by the team. They also state that listing Pi coins on crypto exchanges is not in line with Pi Network policies and poses risks to pioneers.
The Pi Network team advises pioneers to wait until the official open Mainnet launch before transacting Pi coins. They also remind pioneers not to provide personal information or passwords to anyone.
The Pi Network team hopes that with patience and cooperation from pioneers, Pi Network will become a successful and beneficial crypto for many people.
