#PiNetworkkyc Pi Network is a blockchain-based digital currency platform developed by Stanford PhDs Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Launched on March 14, 2019, it allows users to mine Pi coins on smartphones without energy-intensive hardware, utilizing a Stellar Consensus Protocol (SCP) adaptation.
*Key Features:*
- *Mobile Mining*: Pi Network enables users to mine Pi coins using a lightweight mobile app, consuming minimal battery power.
- *Open Mainnet*: Pi Network launched its Open Mainnet on February 20, 2025, enabling real-world transactions and blockchain integrations.
- *Pioneers*: Users who mine Pi coins are called Pioneers, and they can earn Pi coins by contributing to the network.
*Pi Coin Functionality:*
- *Contribution Balance*: Pi mined and never transferred to any exchange retains the Purity Badge and can function on GCV (Global Consensus Value).
- *Non-Contribution Balance*: Pi transferred to an exchange loses the Purity Badge and cannot function on GCV.
*Requirements to Hold Pi with Purity Badge:*
- Create a Pi account
- Mine for at least 30 days
- Complete KYC
- Be in the migration queue
*Pi Network's Future:*
- *Reduced Gas Fees*: The Pi gas fee will decrease when the global open mainnet goes live.
- *Contract Address*: Pi will have a contract address under the Pi Blockchain Network.
- *Computer Nodes*: Up to 300 computer nodes will be activated.
- *Pi Browser Updates*: The Pi Browser will display the real Pi value on the Pi Blockchain Explorer and show the dollar equivalent beneath the total balance in the Pi Browser wallet ¹ ².