With the formal launch of the Pi Coin Open Network, the Pi Community can now connect globally. This milestone supports Pi’s goal of developing an inclusive and useful cryptocurrency by enabling its ecosystem, applications, and peer-to-peer network to interface with the larger blockchain world.
1. External Connectivity & Transactions Pioneers can now conduct transactions with other compatible networks and systems using Pi outside of the contained ecosystem. This improves Pi’s usefulness in the real world.
2. Businesses Verified by KYB There is now a list of companies that have been KYB-approved, guaranteeing safe transactions throughout the ecosystem. Companies who want to take part in the Pi economy can apply for verification.
3. Integration of CEX and Onramps Pi has made it simpler for people to obtain and use Pi by integrating with a number of centralized exchanges (CEXs) and onramps. To prevent scams, Pioneers are recommended to only use services that have been approved by KYB.
4. Extension of Nodes The network is strengthened when new nodes can join Pi’s Mainnet once the Enclosed Network firewall is removed. With the publication of ranking data, node operators can now move from the Testnet to the Mainnet.
Measures for Security and Compliance KYC (Know Your Customer) and KYB (Know Your Business) verification are essential for preserving a secure environment. Non-custodial Pi Mainnet wallets can only be created for transactions by KYB-verified companies. To prevent possible fraud, pioneers should only interact with validated companies. The Open Network Challenge is coming up! Pioneers can take part in the Open Network Challenge on the Pi mining next week. In addition to completing crucial tasks (such the KYC migration), this event will offer an engaging opportunity to discover Open Network’s capabilities and communicate with Pi’s social media platforms, such as Fireside Forum and Pi Chats. There are exciting incentives in store.