🚨Pi Network Faces Centralization Risks Amid Heavy Dependence on Vietnam

Pi Network, a popular cryptocurrency project, is raising concerns about centralization and legal risks as nearly half of its global nodes are based in Vietnam. According to data from PiScan, Vietnam hosts 154 out of 319 total nodes — about 48.2%. Even more concerning, both of the project’s validator nodes are reportedly controlled by the core development team, raising red flags about network decentralization.

Adding to the complexity, Vietnam’s regulatory framework does not recognize cryptocurrencies like Pi Coin as legal payment methods. Using Pi Coin for transactions could result in fines or even criminal charges, creating serious risks for Vietnamese users.

Further scrutiny falls on Pi Network’s token allocation. Over 60% of all Pi Coins are held by the Pi Foundation, prompting doubts about transparency and fairness. Some community members have even accused the team of internal token sales, undermining trust.

To ensure long-term credibility and stability, Pi Network must address these centralization issues, clarify its token management, and ensure compliance with local laws. The project’s next steps will be crucial for its global legitimacy.

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