Introduction
This is a cryptocurrency venture that is under development. It is titled as Pi Network with the main premise of allowing people to mine for the digital currency. Furthermore, developed by a team of Stanford graduates. The Pi Network launch date is another innovation. That attracted much attention; whereas unlike all other blockchain-based systems. That must take an immense amount of computational power and drain the battery of a user’s mobile device. It offers an opportunity of mining Pi coins employing the latter’s gadgets. Therefore ,this model belongs to the category of promoting the mine of cryptocurrencies. Which would be more democratic as compared to popular cryptocurrencies. Such as Bitcoin or Ethereum.
Pi network launch date – Overview of Pi Network
Pi Network launch date was created on 14th March 2019 by 3 founders namely Nicolas Kokkalis, Chengdiao Fan, and other pioneers. Who are graduates of Stanford University. For instance, the selection of March 14 th (3/14). That refers to Pi Day signifying the name Pi that is the same as the mathematical constant π. In addition, the team behind the network desires a decentralized platform. Whereby millions of users can actively engage the DCE. Through mining, staking, and direct peer-to-peer transacting of Pi coins.
Since then it has gone through several phases of development and has garnered millions of its users. Who engage in mining of Pi through a mobile application. However, unlike old fashioned mining that consumes a lot of computational power. As well as energy,Pi mining was created to be efficient and friendly to the environment.
Pi network launch date – The Phases of Pi Network Development
Pi Network launch date development roadmap consists of three main phases. Public testing that in this case is subdivided. Phase 1 also known as the Beta phase, Phase 2 sometimes referred to as the Testnet phase. Lastly, Phase 3 also referred to as the Mainnet phase.
Pi network launch date – Beta Phase: March 14, 2019 – March 2020
The Pi Network initially began with the Beta phase that involved accumulations. As many users for the creation of Pi coins through the use of a mobile application. In this phase the focus made on user acquisition.
The second phase which involved the testnet phase has been taking place from March 2020 up to the present time.
Then came Phase 2 where Pi Network’s Testnet was launched. For developers to develop as well as test dApps on the network. In fact, the Testnet phase has been only significant
Also during this phase, it launched the Pi Node software. That enables running a full node on each computer. This was quite vital in decentralizing the network.
Pi network launch date – Phase 3: Mainnet Launch
The last phase is the Mainnet phase and it is believed. To be the most important phase of development in the Pi Network project. Mainnet is the live version of the blockchain. Where Pi coins will release and have economic value. It will also be tradable at crypto exchanges. As per the recent information from the Pi Core Team. The project progression plan envisions the Mainnet deployment in 2024.
Therefore, the release of the Mainnet will be a major achievement. Within the Pi Network because its blockchain will move. From the developmental stage to real-life usage.
Pi network launch date – Things to Expect about the Mainnet Launch
The Mainnet launch, expected to bring several changes and developments to the Pi Network ecosystem:
- Firstly, the Mainnet will use a decentralized blockchain. Through which there will be no single party controlling the network. Thus, this will lead to an increase in confidence and trust among the users.
- Second, many coins will create at the launch of the Pi network. Users will be able to sell them for other cryptocurrencies or for dollars, for example. In return, this could bring more users and investors to the Pi ecosystem.
- Moreover, users shall be able to implement and host decentralized applications. On the Pi blockchain through Mainnet. This development could create diverse applications starting with decentralized finance to social media. Which serves as a way of promoting the usage of the Pi coins.
- Also, users will be capable of sending Pi coins to wallets. Make transactions within Pi or other networks using interoperability. Thus, this will remove the need to transact with a third party and bring about a true peer to peer economy.
- Last but not least, the Mainnet launch will lead to the listing of Pi coins with the major cryptocurrency exchanges. As such, the pictured plan will help to facilitate liquidity. In the Pi market to enable users to swap Pi coins for other digital currencies.
Conclusion
The Pi network launch dateis a new approach to a new form of currency. Unlike many other cryptocurrencies, its mining process is easy and does not harm the natural environment. Created by a team of Stanford graduates, the Pi Network has attracted significant attention. This attention grew after the app launched on March 14, 2019.
Moreover, Pi is a decentralized blockchain designed for generational mining. It allows users to mine currency through their mobile devices. Unlike other cryptocurrencies, Pi does not require enormous computational power or energy to mine. Thus, anyone with a mobile device can mine it easily.
The development of the Pi Network, divided into three phases: Beta, Testnet, and Mainnet. First, during the Beta phase, the focus was on acquiring users for the system. Then, in the Testnet phase. Developers concentrated on creating and testing decentralized applications on the platform. Finally, the next stage will be the Mainnet phase, which expects to launch between 2023 and 2024.
