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Analysis

Accelerated Development of Pi Blockchain Yields Decentralized KYC Solution, 33 Million Engaged Users, and More on Path Towards Open Mainnet

An Examination of the Social Cryptocurrency Reveals Numerous Recent Achievements and an Exciting Future

On March 14, 2022, Pi Network celebrated its third anniversary with essential bulletins and updates. The community outlined future plans and shared  progress in phrases of know-how, product, and neighborhood progress since final 12 months’s Pi Day.

Pi Network Growth March 14, 2021 – March 14, 2022

Pi Network had an incredible 12 months of progress full of accomplishments that fulfilled its roadmap targets and grew the utility of the community. In the final 12 months, Pi Network launched the Enclosed Mainnet, launched three up to date Whitepaper chapter drafts and superior decentralization on the community by rising to over 10,000 energetic Testnet nodes. Additionally, the Pi Community grew from 15 million to over 33 million engaged customers (known as “Pioneers” locally).

In the identical interval, the Pi ecosystem has undergone evolution with launches and iterations of a number of PI Network apps and options together with Pi KYC, Brainstorm, Pi Browser, Pi Wallet, Pi SDK, and Pi Blockexplorer.

Looking ahead, Pi Network goals to speed up the neighborhood mass KYC course of, migrate its customers’ balances to the Mainnet, develop an ecosystem of apps on its platform, and transfer to Open Mainnet.

Enclosed Mainnet Launch

The Enclosed Network interval of Mainnet of the Pi blockchain went stay on December 28, 2021. Here, a firewall prevents any undesirable exterior connectivity to the Mainnet. This Enclosed Mainnet interval permits time for thousands and thousands of Pioneers to move KYC and the neighborhood to construct utilities-based Pi apps. The Enclosed Network interval additionally supplies a possibility for the community to check, collect information, and iterate on the Mainnet and the Pi Ecosystem earlier than the long run launch of the Open Network.

Updated Whitepaper Draft

Updated Whitepaper chapters have been launched together with the Mainnet launch. These chapters element the Pi Network Mainnet roadmap, new mining rewards, and token mannequin. The chapters are in draft kind and proceed to be up to date primarily based on neighborhood suggestions and information gathered throughout the Enclosed Mainnet interval.

Nodes

In the final 12 months, the community grew to over 10,000 energetic Testnet Nodes. Additionally, there are tens of hundreds of Pioneers working the Node desktop utility every day, on the ready checklist to run the blockchain container. While not all Nodes run the Testnet consensus container, all of them do present the community with essential information and infrastructure to allow a number of iterations of the Node software program and Testnet. Once the Open Network interval of Mainnet launches, such Community Nodes will be capable to take part in securing the Pi Mainnet blockchain.

Hackathon

The community carried out its first #constructPi2gether Hackathon between June 28, 2021 and September 20, 2021 with hundreds of Pioneers taking part. Pioneers submitted many initiatives with all kinds of use circumstances. A choose few gained rewards for his or her distinctive contributions.

KYC App

Development of the novel Pi KYC App started and continued all year long. The app was constructed to be a decentralized scalable KYC resolution that mixes machine automation and crowdsourced human verification. This KYC resolution optimizes for accuracy and privateness whereas reaching accessibility, scalability for thousands and thousands of folks, and broad protection of numerous populations. The staff labored on a number of options and variations between testing rounds akin to improved obfuscation algorithms which disguise a Pioneer’s information from human validators, liveness checks which confirm that an actual individual is making use of, improved processing pace to make sure well timed importing of Pioneers’ paperwork, and far more. With a number of testing rounds accomplished, Pi Network has now made the KYC app (see Pi Day Announcements beneath!) accessible on a big scale.

Ecosystem Tools

In 2021, Pi Network developed and launched a rising ecosystem of apps and options that may help Pioneers as Mainnet additional evolves.

The Pi Browser was launched in April 2021 to create a extra open and direct Pi Utilities platform for Pioneers and neighborhood builders to work together with and construct upon. Within the Pi Browser, Pioneers can entry the Pi KYC utility and different apps being created by neighborhood app builders. As the ecosystem develops extra and extra apps with actual use circumstances and utility, Pioneers will be capable to spend Pi on the apps of their selection.

There have been many characteristic enhancements and additions to the Pi Browser since its launch, such because the addition of notifications and deep linking. New options will proceed to be constructed and rolled out over the approaching 12 months.

The Pi Wallet was introduced on Pi Day 2021, providing Pioneer’s a noncustodial technique to carry their Pi. At launch, the Wallet allowed Pioneers to work together with the Testnet blockchain by creating Test-Pi transactions. To assist the neighborhood transition to Mainnet, the Pi Wallet has been up to date in order that Pioneers can change between viewing the Mainnet and Testnet blockchains and get able to obtain their Pi stability on the Mainnet.

The Brainstorm App—a spot for Pioneers to suggest Pi Apps concepts, be a part of current initiatives, and have interaction with different Pioneers to affix their initiatives—launched simply previous to Pi Day, 2021. Throughout the 12 months, the Brainstorm App noticed many updates and characteristic modifications to host the large-scale international on-line hackathon and UI enhancements primarily based on neighborhood suggestions. More updates to Brainstorm might be applied in 2022, so preserve an eye fixed out for some thrilling information which might be introduced later this 12 months!

The Pi SDK, which allows builders to construct functions that combine with the Pi Ecosystem, was launched on Pi2Day (June 28), 2021. This gave builders the power to speak with the Pi Blockchain to create funds and with Pi servers to validate consented info from Pioneers. Additional options are being deliberate for the upcoming 12 months which can give builders elevated performance inside their functions.

The Pi Blockexplorer first launched in October 2021 to supply visibility to the Testnet. Since the Mainnet launch, Pioneers have additionally been in a position to view transactions, accounts and blocks on the Mainnet blockchain. Pioneers can verify their Pi stability, the standing of a transaction, and the overall state of the Pi blockchain.

Pi Day Announcements

Pi Day 2022 introduced some thrilling information! The Pi Core staff introduced the discharge of two essential new options: (1) the lengthy awaited rollout of mass KYC resolution, and (2) the brand new Pi mining mechanism that permits extra numerous mining rewards primarily based on lockup settings, app utilization, and node internet hosting.

Pi KYC functions are being supplied as they develop into accessible, permitting Pioneers world wide to submit functions on a big scale, with the quantity of utility slots anticipated to ramp up steadily. Pioneers will obtain an in-app alert once they obtain a slot to submit their utility. These slots are chosen randomly and usually are not being assigned in any order. We perceive that each one Pioneers need to submit their utility and transfer to Mainnet, however please be affected person as slots develop into accessible to all Pioneers to keep away from system muddle when processing the thousands and thousands! Given that machine automation is being scaled as wanted, the community KYC pace now primarily relies upon on what number of good human validators there are in every area people to course of the human verification step of the KYC resolution. So be a part of the workforce of human validators and assist pace up the KYC of the community.

The Pi KYC resolution combines machine automation and human verification with the intention to accomplish correct and environment friendly KYC for everybody. Machine automation might be accountable for picture processing, textual content extraction, pretend ID detection, liveness verify and picture comparability. The human verification circulate, the place pre-approved human verifiers verify the redacted information of different Pioneers’ KYC functions, has additionally been launched on this Pi Day.

Another main announcement is that Pioneers can now obtain new mining rewards that enhance particular person mining charges ensuing from numerous sorts of contributions to the community akin to app utilization, Node operations, and Pi lockups, along with pre-Mainnet rewards akin to safety circles and referrals. Locking up Pi whereas ecosystem utilities and use circumstances develop, partaking with Pi apps on a daily foundation, and internet hosting a big community of Nodes are all important to each the safety and decentralization of the Pi blockchain and the soundness and utility of the Pi Ecosystem.

Coming quickly

Over the subsequent few months, Pi Network has a number of upcoming releases that Pioneers must be conscious of.

KYC App

The KYC app is self-sufficient inside the ecosystem. It prices Pioneers 1 Pi to course of their utility. Further, totally KYC’ed Pioneers will quickly be capable to apply to develop into KYC validators for his or her nation or area after agreeing with Service Terms of the app, going by a tutorial to coach their validation expertise, and being peer-vetted by trusted validators on their preliminary work. Since these validators’’ work is consistently cross-validated to forestall dangerous actors, offering constantly inaccurate verification will result in elimination from the workforce pool. Good validation work might be rewarded with Pi paid by KYC candidates.

Node Consensus Container

During the Enclosed Network interval, the Consensus Container for the Testnet might be opened for all Community Nodes. This will supply Pioneers who wish to keep a duplicate of the ledger the possibility to arrange and monitor the efficiency of a node. Doing so is essential for Pioneers to confirm that their nodes are in a position to successfully deal with the parameters of the Testnet blockchain. This will assist be certain that Pioneers are in a position to host the Pi Mainnet blockchain with their Nodes as soon as the firewall is eliminated and Open Network begins.

Further Pi Ecosystem growth

Pi Network is ramping up its efforts to develop neighborhood app growth on the Pi Browser to create actual utilities and use circumstances inside the Pi Ecosystem. This will embrace potential future Hackathons and different developer initiatives to assist convey builders onto the Pi (*33*) platform. There will even be Pi apps developed by the Core Team.

Mainnet Migration

After a essential mass of Pioneers move KYC verification, the community will start transferring the KYC-verified Pioneers’ mobile-mined balances to the Enclosed Mainnet blockchain. These Pioneers will then be capable to use their Pi inside the inside Pi Ecosystem. In order to qualify for Mainnet Migration, Pioneers might want to full all of the steps on the Mainnet Checklist situated contained in the Mainnet tab within the Pi App. This contains making a Pi Wallet by the Pi Browser, selecting a lockup configuration, and submitting and passing a KYC utility.

Open Network

After mass Mainnet migration happens and the Pi Ecosystem is sufficiently developed, Pi Network will transfer to the Open Network interval of Mainnet, eradicating the firewall from the Enclosed Network interval. This will permit for exterior connectivity, e.g., to different networks and to anybody who desires to hook up with the Pi Mainnet. Removal of the firewall will permit direct entry to the blockchain, and neighborhood Mainnet Pi Nodes will be capable to run the  Mainnet blockchain.

Pi Network had sturdy progress and growth over the past Pi 12 months. There is pleasure locally concerning the upcoming Mainnet migration, growth of the app ecosystem, and transfer to Open Network. Unlike different cryptocurrency networks, Pi has had important neighborhood help from the very starting of its journey. Pioneers helped safe and develop the community as they mined Pi on their telephones and have been offering essential suggestions because the community developed and iteratively improved on its know-how and product. With a lot to look ahead to, the subsequent Pi 12 months is essential and requires Pioneers to contribute much more diversely to the community with the intention to make it a hit.

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