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Pi Day Celebration and Emerging Pi Network Popularity

Key Takeaways
  • Pi Network stands as one of the most popular mobile mining blockchains, generating significant buzz due to the mainnet launch news.
  • Coin Gabbar believes that Pi Network's increasing popularity in launching its mainnet indicates that the network's launch might be imminent
  • The future of the Pi Network and its potential impact on exchanges and blockchains remain subjects of keen interest.
01-May-2024 Sakshi Jain
Pi Day Celebration and Emerging Pi Network Popularity

Pi Day On 14th March, a Memorial Day For Pi Network

Pi Network is not live yet, despite this the popularity of its token Pi Coin is increasing. Although the Pi network, which facilitates mining from mobile phones, has existed as a testnet since 2019, it gained popularity in 2023.

Pi Accelerated After the Announcement of the 2023 Pre-Mainnet Hackathon 

The momentum gained by Pi after the announcement of the pre-mainnet hackathon in 2023 was remarkable. Although the Pi Network had already conducted a pre-mainnet launch in 2019. It wasn't until 2023 that it garnered significant attention. The announcement of the inaugural hackathon on January 11, 2023, marked a pivotal moment, accompanied by various initiatives aimed at enhancing the Pi app's user experience and encouraging ecosystem growth. 

These initiatives included inviting pioneers and developers to create genuine utility-focused mobile apps. Focus was placed on various domains such as entertainment, education, and customer utility, with a focus on creative utility-focused apps. The hackathon boasted a $30,000 prize pool and saw participation from over 6,700 individuals, with more than 30,000 pioneers joining the review process.

Additionally, Pi Day is celebrated annually on March 14th, becoming even more significant event in 2023. This celebration included releasing several features aimed at enhancing user experience and realizing the goal of a closed mainnet network through collaborative efforts. Among these features was a new Testnet ecosystem interface. They are Pi Developer Resources, the Developer Ambassador Program, and other ecosystem programs. Alongside these developments, the platform launched the Pi Open Source (PiOS) software license empowering community developers to create open-source applications and foster collaboration within the ecosystem.

Launch of Pi Network Mainnet 2024 Boosts Popularity

The news of the impending launch of the network's mainnet in 2024 has kept Pi in the headlines. Presently, Pi Network stands as one of the most popular mobile mining blockchains, generating significant buzz due to the mainnet launch news. However, it's important to note that Pi Network is a mobile mining blockchain with an app that allows users to earn Pi coins by performing simple tasks on their phones. As mentioned earlier, Pi's mainnet is not yet live that is, its coins are non-tradable. The Pi team has announced June 28, 2024, as the date for the mainnet launch but skepticism remains regarding the likelihood of such a swift launch.

Nevertheless, a recent milestone achieved by the Pi community reaching 10 million KYC users has bolstered trust among its user base. It's been stated that if the number of KYC users reaches 15 million, the tokens will become tradable further solidifying user confidence. 

Additionally, Pi Network operates on the Stellar Consensus Protocol, providing advantages to users based on their contributions to the network, serving as another reason for joining the network. Despite not being live yet, Pi Network is striving to become a payment system post-full launch.

Coin Gabbar believes that Pi Network's increasing popularity and the team's confidence in launching its mainnet indicate that the network's launch might be imminent. However, there's a lingering question about whether Pi Network's usage can extend to exchanges and blockchains. All of this will become clear upon the launch of its mainnet. Currently, users are eagerly engaged in mining tokens through the Pi app with great enthusiasm.

In 2024, Pi Network has continued to capture the attention of the crypto community on a large scale. With 55 million active users in the community and recent milestones such as 10 million KYC pioneers and nearly 3 million Twitter followers. The project has garnered significant interest with the prospect of a full launch on the horizon, efforts are underway to establish itself as a payment system. 

Conclusion

In conclusion, despite skepticism and uncertainties surrounding its mainnet launch, Pi Network has managed to attract a large and enthusiastic user base. As anticipation builds for the transition from a closed network to a live mainnet. The future of the Pi Network and its potential impact on exchanges and blockchains remain subjects of keen interest. For now, users remain committed to mining tokens through the Pi app, eagerly awaiting further developments in the project's journey.

Also Read: BlackRock’s BUIDL Is Bigwig To Blockchain And Crypto Market

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