Palo Alto, CA, Aug. 17, 2022 (GLOBE NEWSWIRE) — Pi Network, a large, open neighborhood powered by the world’s most generally distributed cryptocurrency that delivers accessibility and permits a sturdy ecosystem for members, retailers and builders alike, at the moment introduced the migration of over a million customers to its mainnet blockchain.
Based in December 2018 by a crew of early innovators in blockchain and behavioral applied sciences from Stanford College, Pi Community is a utilities-based ecosystem of third-party apps, utilized on a cellular internet platform, with widespread token distribution. Since its inception, the neighborhood—also called “Pioneers”—has grown to 35M+ members in over 230 nations or areas.
“Formally standing up Pi Community on mainnet is a testomony to the unbelievable neighborhood we’ve constructed within the final three years,” stated Dr. Chengdiao Fan, a Founder and Head of Product at Pi Community. “Pi Community’s imaginative and prescient to construct the world’s most inclusive peer-to-peer ecosystem and on-line expertise, fueled by Pi, is one step nearer to actuality.”
In distinction with different blockchains, Pi Community constructed and grew its neighborhood lengthy earlier than launching the mainnet blockchain in December 2021. Since Pi Day, March 14, 2019, the neighborhood has been making varied contributions to the expansion and safety of the community, and within the course of, mining Pi on their cell phones by means of a novel, environmentally pleasant mining mechanism. Migrating the Pi balances from the cell phone app, the place they’re at present recorded, to the blockchain, whereas varied apps are additionally set to transition from testnet to mainnet, will allow the peer-to-peer ecosystem to materialize. These apps will be capable to faucet into a big community of customers who’ve handed KYC and are crypto-ready with cryptocurrency in hand to spend for varied providers.
The migration of over a million Pioneers to the mainnet was achieved inside a month. It was made doable because of the Pi KYC solution and the work of over 649,000 human validators in 224 nations or areas who’ve KYC’d over 2 million Pioneers thus far. Pi KYC is a singular, proprietary strategy that mixes machine automation and crowdsourced, hyperlocal human verification to perform safe, scalable and environment friendly KYC. It was born out of a scarcity of scalability, monetary accessibility and international attain from different third-party market options.
“Pi Community’s native KYC resolution free-of-fiat value for all Pioneers was one of many nice efforts for Pi Community to ship on the promise of equity, inclusivity and accessibility,” stated Dr. Nicolas Kokkalis, Founder and Head of Know-how at Pi Community. “We’re excited to proceed rising this unbelievable neighborhood and welcome future Pioneers to contribute to what is going to quickly be one of the best performing crypto-enabled social community on the planet.”
The community plans to proceed migrating hundreds of thousands extra to mainnet within the coming months as extra Pioneers proceed to make the most of the Pi Community KYC know-how.
ABOUT PI NETWORK
Pi delivers on the true promise of blockchain: a large, open neighborhood powered by the world’s most generally distributed cryptocurrency that delivers accessibility and permits a sturdy ecosystem for members, retailers and builders alike. Based in 2018 by a crew of early innovators in blockchain and social computing, with PhDs from Stanford College, Pi Community is a utilities-based ecosystem for third-party apps on a cellular internet platform, with widespread (slightly than concentrated) token distribution. The blockchain platform affords a mobile-first mining strategy, with low monetary value and a lightweight environmental footprint inside the crypto house. The neighborhood boasts an engaged 35M+ members in over 230 nations or areas. For extra info, please go to minepi.com.
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