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Pi Network Conducts One of the Largest Blockchain

PALO ALTO, Calif., Aug. 17, 2022 (GLOBE NEWSWIRE) — The Pi Network is a large, open community powered by the world’s most widely distributed cryptocurrency, a community of members, merchants and developers. Both provide accessibility and enable a robust ecosystem. Migrated over 1 million users to mainnet blockchain.

Founded in December 2018 by a team of early innovators in blockchain and behavioral technology at Stanford University, the Pi Network is a utility-based ecosystem of third-party apps powered by mobile web platforms and widely distributed tokens. It has been. Since its inception, the community, also known as “Pioneer,” has grown to more than 35 million members in more than 230 countries or territories.

Dr. Chengdiao Fan, Founder and Head of Product, Pi Network, said: “Pi Network’s vision of building the world’s most comprehensive peer-to-peer ecosystem and online experience powered by Pi is one step closer to becoming a reality.”

In contrast to other blockchains, Pi Network has been building and growing its community long before launching its mainnet blockchain in December 2021. Since Pi Day on March 14, 2019, the community has contributed in many ways to the growth and security of the network. The process involves mining Pi with your phone through a novel eco-friendly mining mechanism. Various apps are also set to migrate from the testnet to the mainnet, but the migration of Pi balances from the currently recorded mobile phone app to the blockchain will enable a peer-to-peer ecosystem. These apps will be able to tap into a large network of users who have passed KYC and have access to various services with cryptocurrencies in their hands.

The migration of over 1 million people to Pioneer’s mainnet was completed within a month. This is made possible thanks to the Pi KYC solution and the work of his over 649,000 human validators in 224 countries or territories who have done his KYC of over 2 million Pioneers so far. I was. Pi KYC is a unique and unique approach that combines machine automation with crowdsourced hyper-local human verification to make his KYC secure, scalable and efficient. This was born out of the lack of scalability, financial accessibility and global reach from other third party his market solutions.

“Pi Network’s native KYC solution is now available to all Pioneers without fiat fees. ,” said Dr. Nicolas Kokkalis, founder and technical director of Pi. Communication network. “We are thrilled to continue growing this incredible community and welcome future pioneers to contribute to the highest performing crypto-enabled social network in the world.”

On the mainnet, pioneers are rewarded for their continued contributions to network growth and security. Pioneer rewards will be further diversified as the network requires more varied and detailed contributions related to using apps, operating nodes, and locking up Pi. Pre-mainnet pioneers will continue to contribute Pi and mining from mainnet mining rewards, along with new members joining the network, to ensure the growth and longevity of the network.

As more pioneers continue to utilize the Pi Network KYC technology, the network plans to migrate millions more to the mainnet in the coming months.

For more information or to join the Pi Network, visit Minepi.com.

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About Pi Network

Pi delivers on the true promise of blockchain. It is a large, open community powered by the world’s most widely distributed cryptocurrency, providing accessibility for members, merchants and developers alike, and enabling a robust ecosystem. Founded in 2018 by his team of early innovators in blockchain and social computing with a PhD from Stanford University, Pi Network is a utility-based ecosystem for third-party apps on mobile web platforms, We are distributing tokens widely (not centrally). Blockchain platforms offer a mobile-first mining approach with low economic costs and low environmental impact within the crypto space. This community has more than 35 million members in over 230 countries or territories. For more information, visit minepi.com.

        

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