Pi Coin Distribution:A chart showing that the Pi Network's core team controls approximately 82.8 billion out of the total 100 billion Pi Coins,highlighting the centralization of token ownership
Validator Nodes Map:A global map depicting the limited number of validator nodes,with a significant concentration in Vietnam,emphasizing the network's reliance on a specific region.
Vietnamese Pi Network Community:Photographs showcasing large gatherings of Pi Network users in Vietnam,indicating the country's substantial involvement in the network.SuperNode Network Graph:A visual representation of the Pi Network's SuperNode structure,illustrating the limited and centralized nature of its node distribution. These images provide visual context to the concerns about the Pi Network's centralization and its 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.
Token Concentration:The Pi Network's core team controls approximately 82.8 billion out of the total 100 billion Pi Coins, representing over 80% of the total supply.This level of concentration raises serious questions about the network's decentralization and the potential for market manipulation. VietNamNet News+9BeInCrypto+9Coinpedia Fintech News+9
Limited Validator Nodes: The network operates with only 43 nodes and three validators globally, which is significantly fewer than established cryptocurrencies like Bitcoin and Ethereum. This limited number of validators increases the risk of centralized control and potential vulnerabilities within the network. ETHNews+5Binance+5IcoHolder+5
Lack of Transparency:The Pi Network has been criticized for its opaque operations, including the absence of publicly available source code and limited access to on-chain data.This lack of transparency hinders external verification and undermines trust in the network's integrity. IcoHolder.Legal Challenges in Vietnam: Despite its popularity in Vietnam, the use of Pi Coin for transactions is illegal under Vietnamese law. While trading Pi Coin is not explicitly banned, using it as a payment method violates financial regulations, posing legal risks for users and businesses in the country. VietNamNet News.These factors collectively raise concerns about the Pi Network's commitment to decentralization and its long-term viability. Investors and users are advised to exercise caution and conduct thorough research before engaging with the platform.VietNamNet News+2MLZ Taxes+2Binance+2
