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Pi Project: A Flourishing Bubble, Signs of Failure Are Already Apparent

Among many blockchain projects, Pi seems to be thriving, but in reality, it is fraught with crises, and failure is almost a foregone conclusion.

Firstly, Pi severely deviates from the core spirit of blockchain decentralization, operating in a highly centralized manner, with concepts and slogans seemingly lifted from Ripple, merely changing the appearance without substance.

Secondly, the distribution of tokens is extremely imbalanced, with the project team monopolizing 90% of the tokens, which grants them absolute control, making it difficult to protect the interests of ordinary participants.

Thirdly, the planning roadmap is chaotic and lacks a clear direction, with content mostly pieced together from other projects. In just a few years, the white paper has been changed six times, revealing a state of confusion.

Fourthly, although the promotional slogans are grand and aimed at billions of people worldwide, there is no actual action to support them, resembling castles in the air.

Fifthly, the technical performance is lacking, with on-chain TPS falling short of Sol, and the barter model goes against the development of technology, resembling a regression in history.

Sixthly, despite claiming to be blockchain 3.0, it has not even reached the standards of web 2.0, being out of sync with the development of the times.