Pi Network Releases v1 of the 2023 Roadmap, Detailing Path to the Open Mainnet

Watch Icon
CoinCodex News
Pi Network Releases v1 of the 2023 Roadmap, Detailing Path to the Open Mainnet

 Key takeaways

Pi Network (PI) has released a roadmap update that details key developments in the ecosystem ahead of the Open Mainnet launch Pi remains in its Enclosed Mainnet phase of development for the time being, upcoming developments focus on integrating testnet with new mainnet functions The Open Mainnet will begin when the Enclosed Network ecosystem "matures," and more progress is made on the network's KYC The PI price prediction algorithm expects major price appreciation in 2024 following a period of sustained upside during 2023

Pi Network’s roadmap update reveals more information about the ecosystem’s most impactful features

Pi Network (PI) has specified the key developments that will be made to the ecosystem over the coming months. The roadmap update, which is now live on the project’s main site, details improvements that will be made to the ecosystem’s keystone features. It’s worth noting that the roadmap released on October 30th was the first version of the two-part roadmap, with the final version slated for December 2023.

Mine Pi Coin

Mining App has several initiatives in the pipeline that will improve the user experience

Pi Network’s Mining App was initially launched in 2018 as the project’s segway into providing a highly accessible distributed finance network. The app enables users to easily mine cryptocurrency with just their mobile phone, which is a stark difference to alternative blockchains that rely on specialized hardware and high electricity costs.

The Mining App will receive several key updates, as detailed in the recent roadmap update. The onboarding process for new users will become even easier, with a registration process as soon as the app is opened. Part of this update includes fixing bugs and streamlining the interaction on the user end.

A user retention scheme will also be introduced to the Mining App that will send periodic reminders to miners who have stopped supporting the network infrastructure and earning PI rewards. The application is also being translated into 50 total languages, which helps to provide a UI/UX upgrade for the global blockchain project.

According to the roadmap graphic, we are currently about halfway between the enclosed and open mainnet. Source

Pi Browser will gain UI improvements and a seamless onboarding process

Pi Browser provides easy access to applications within the Pi ecosystem. Launched in April 2021, a core aim of the browser was to provide developers with a permissionless method of building custom dApps on the network.

Among the improvements being made to Pi Browser are a UI revamp and integration with PiNet. The UI improvements will give the browser a more modern look and help to provide a more intuitive navigation system for the platform. The integration with PiNet, meanwhile, connects in-app content from Pi Browser with the external PiNet platform so that users can seamlessly navigate and explore.

Pi Network will also improve the onboarding experience for Pi Browser in a similar way to the changes being made to its Mining App. These updates lead to a full expansion of the Pi Browser interface, which will gradually be integrating Mainnet applications alongside the existing Testnet apps. It is worth noting that the team is looking to expand the Pi Network utility beyond its browser, which is evident from the recent integration with the Carbon Browser.

Pi Browser being used on Android, image via Google Play Store

On-chain KYC set to receive minor tweaks

Pi Network has an in-built know your customer (KYC) system that was first developed between 2021 and 2022 to comply with regulations in various countries around the world. The process of submitting KYC before joining the ecosystem and mining PI tokens is also being upgraded as part of the recent roadmap release.

Pi Network uses a human validator system to reach a consensus on KYC verification. A more advanced delegation process is now being developed that will provide a grading system to establish the most trustworthy validators for KYC verification.

As well as this, Pi Network will introduce several bug fixes that help to improve its KYC system. There will be a series of improvements on the user end that provide more information on how to complete KYC, an appeal system for users who have been rejected, and a system to unblock users with missing fields using the trusted validator system.

An excerpt from the new roadmap that discusses the work being done on the KYC front.

Algorithm predicts +433% price increase for PI leading into the launch of Open Mainnet

The native PI token has yet to be released on the open market and instead uses an IOU price that is set by select exchanges. The IOU price for PI has risen 56.39% in the past 6 months, during which time the project has achieved several major milestones.

PI tokens were used in a peer-to-peer transaction for the very first time, as a Korean PI owner transferred the cryptocurrency to an artist in exchange for a piece of art. As well as this, a project initiative to attract more developers into the ecosystem was deemed to have made considerable progress.

The PI price prediction algorithm now expects the digital asset to see some major gains over the next 12 months. In total, PI is expected to rise by +433%, which would take it from $35 to $189. The algorithm’s bullish prediction may also be influenced by the expected launch of Pi Network’s Open Mainnet, which may happen at some point during 2024.

Bottom line: PI looks set to continue climbing as it approaches an important phase in the development of its ecosystem

After reaching 47 million users in June 2023, Pi Network has become one of the most widely used distributed finance networks around. The project continues to tweak its ecosystem and refine its user experience as it approaches its Open Mainnet phase of development.

The recent roadmap release shows that Pi is now in the Enclosed Mainnet phase. During this time, Pi is integrating its Testnet features with its core applications ahead of its Open launch — namely, Mining App and Pi Browser. While there's no exact timeline for the launch of the Open Mainnet currently available, the second version of the roadmap – slated for December – could provide more context about the Open Mainnet, according to the Pi Network community director

Right now, the PI price prediction algorithm expects major upside from the current valuation as the project approaches its full launch.

More News

The Dos and Don’ts of Bitcoin Self-Custody...

Watch Icon
Last updated

It’s important to take bitcoin into self-custody in order to eliminate counterparty risk when holding the asset. A review of best practices and mistakes to avoid when doing so. The third installement of “10 Steps to Self-Sovereignty” powered by Ledger.

Bitcoin and Ethereum Price Prediction as B...

Watch Icon
Last updated

In the dynamic realm of cryptocurrencies, Bitcoin (BTC) maintains its foothold above the $41,000 mark, currently trading at $41,700 with a modest 0.25% increase as the week concludes. The market buzzes with speculation as X, a notable player, unveils plans for a dedicated Payments account, promising potential shifts in crypto transaction dynamics. Meanwhile, the Commodity The post Bitcoin and Ethereum Price Prediction as BTC Bulls Hold $41,000 and ETH Consolidates at $2,400 – Rally Soon? appeared first on Cryptonews.

Ethereum Validator Queue Reaches Highest L...

Watch Icon
Last updated

The Ethereum network is experiencing a surge in the number of validators seeking to stake their Ethereum (ETH). According to data source ValidatorQueue, the validator entry queue currently stands at 7,045, representing over 225,000 Ether (equivalent to $562 million), its highest level since October 2023. It is estimated that the backlog will be cleared in The post Ethereum Validator Queue Reaches Highest Level Since October Amid Renewed Interest in Staking appeared first on Cryptonews.

Back to Top