When is Pi Network’s launch date? An ultimate guide in 2024

Pi Network has garnered considerable attention in the cryptocurrency sphere due to its innovative approach to mining directly from mobile devices and its potential as a credible payment platform. With a vast following of 55 million active community members—surpassing the populations of many countries—comprising 10 million verified 'Pioneers' and 3.3 million Twitter followers, Pi Network's influence is significant. While its Twitter presence rivals that of established entities like the Ethereum Foundation, Pi aspires to evolve into a full-fledged payment system upon its complete launch. However, the burning question remains: When will Pi Network transition from a closed beta ecosystem to an open network compatible with exchanges and other blockchains?

The significance of Pi

Pi Network represents a blockchain initiative with the goal of democratizing mining, making it accessible to anyone with a desktop or mobile device. The project's native token, Pi Coin, is intended for everyday transactions according to the team's vision.

Users can mine Pi coins directly from their smartphones by simply clicking a button within the Pi Network app every 24 hours, demonstrating their active involvement in the network.

Unlike traditional digital currencies like Bitcoin (BTC) and other proof-of-work (PoW) cryptocurrencies, Pi coin mining doesn't require energy-intensive hardware. This distinction contributes to the token's significant success in attracting a large community of miners.

What is the scheduled launch date for the Pi Network mainnet?

In 2024, the focus is on the global community of 'Pioneers', with a series of significant milestones on the horizon. Dubbed "The Countdown to Pi Open Network 2024" by the team, speculation about a June 28 launch date appears to be unfounded, originating from similar rumors in 2022.

According to Pi Network's official account, 2024 has been designated as the year for the mainnet launch.

Outlined on a page named "mainnet2024", the team has set specific objectives to achieve before the Open Mainnet launch, including:

• Verifying 15 million Pioneers through Know Your Customer (KYC) checks.
• Migrating 10 million Pioneers to the beta mainnet.
• Developing 100 mainnet-ready apps.

If the mainnet launch hinges on meeting these goals, the wait may not be prolonged.

As of March 2024, 10 million Pioneers have completed KYC checks, marking an increase of 1.45 million since December 2023. Additionally, around 50 apps, spanning from chats to forums to browsers, are believed to be ready for the mainnet.

Furthermore, user migrations to the mainnet have reached 4.6 million, up from three million in December.

What makes Pi's open mainnet significant?

The Open Mainnet phase heralds a significant development for Pi users, enabling them to trade Pi coins for other cryptocurrencies and fiat currencies. Moreover, it unlocks opportunities for developers to innovate by creating utilities and applications on the network's robust infrastructure.

Despite the enthusiasm surrounding this milestone, the Pi Network team is proceeding cautiously, emphasizing the importance of not jeopardizing the community's progress thus far.

To ensure a smooth transition, the team has identified three prerequisites for the Pi coin launch date:

Thorough preparations

The team stresses the completion of essential technological, product, business, and legal preparations. While much of the technical roadmap is in place, ongoing efforts focus on enhancing network security, stability, and scalability.

Decentralization milestones

Key objectives include reaching 15 million KYC-verified users and migrating over 10 million Pioneers to the Mainnet blockchain. Additionally, the development of at least 100 high-quality, diverse utilities and applications is crucial to establish Pi's credibility as a currency.

Optimal external conditions

Pi's success as a global cryptocurrency initiative is influenced by broader world factors. Therefore, considerations such as geopolitical stability, regulatory developments, industry trends, and the absence of global crises play a pivotal role in determining the timing of the Pi mainnet launch.