Pi network coin (3)

The Pi Network has garnered significant attention in the cryptocurrency community as it prepares for its much-anticipated mainnet launch, expected to take place by the end of 2024.

With over 55 million global users, known as "Pioneers," the project aims to revolutionize digital currencies by enabling mining via mobile phones, a feature that has helped it amass a vast user base.

Of these users, around 13 million have successfully completed the Know Your Customer (KYC) verification, a critical process to ensure that only real individuals participate in the ecosystem, thereby safeguarding against bot accounts and fraudulent activity.

This is a key requirement for the network to transition to its open mainnet.

One of Pi Network's primary goals for the mainnet launch is to establish a thriving ecosystem, with at least 100 decentralized applications (DApps) ready to operate.

These DApps could potentially enable e-commerce platforms, allowing Pi Coin to be used as a medium of exchange, increasing its utility from the onset.

Such utility would be a significant step in differentiating Pi from other cryptocurrencies, giving it a tangible use case right after its mainnet launch​ (BANKLESSTIMES, COINMARKETCAP).

However, the project has faced criticism and skepticism. A major concern is the lack of transparency regarding its underlying technology, funding, and operational roadmap, which some critics liken to the practices of a pyramid scheme due to its reliance on a referral system.

Additionally, Pi Coin has yet to be listed on any major cryptocurrency exchanges, and the only version of Pi available for trading is an unofficial token on the HTX exchange, which is not directly connected to the Pi Network.

This unofficial token has been trading around $38.55, but its price is highly speculative, as it does not reflect the official Pi Coin's potential value upon the network’s launch​ (BANKLESSTIMES).
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Despite these concerns, Pi Network’s developers remain committed to aligning the launch with favorable market conditions to maximize its success.

Cryptocurrencies tend to perform better during bullish market phases, and Pi’s developers are keen to capitalize on this trend.

However, the project faces the challenge of avoiding a post-launch price collapse, which has plagued other tap-to-earn tokens in the past.

Thus, the outcome of Pi's launch remains to be seen, as the project navigates both optimism and skepticism from the cryptocurrency community​ (BANKLESSTIMES, COINMARKETCAP).

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YOU MUST USE INVITATION CODE :
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