2025-1-31 17:00 |
This step aims to prevent security breaches and safeguard user accounts.
The warning is intended to protect users, said the network.
Source: Pi Network
Many in the community welcomed the warning, calling it a “necessary reminder” to ensure protection. However, others were left disappointed, expecting an entirely different announcement. The majority had hoped for news about the long-awaited open mainnet launch or the native Pi token’s debut—both of which have been anticipated for years but remain elusive.
The cryptocurrency project has been active for nearly six years, yet the open network is still not fully operational. This has led to growing frustration among users, many of whom have been waiting for tangible progress on Pi Coin’s functionality beyond its current phase.
KYC Deadline Approaches – No More Extensions ExpectedPi Network had previously set milestones for its official mainnet launch, tying it to a successful Know-Your-Customer (KYC) verification process. The latest update confirms that the final KYC verification deadline has been locked in for January 31, 2025. The team has assured users that no further delays will be made beyond this date.
To proceed with the open mainnet, at least 15 million users must complete KYC verification and migrate their coins. The network recently confirmed that over 9 million users have successfully migrated, while around 14 million have passed the verification stage. The missing numbers are raising concerns about whether the project can meet the required threshold in time.
Some users, despite completing KYC procedures, remain stuck in a queue. Pi Network has acknowledged these delays, attributing them to additional “liveness checks” that some users must complete. The team advised affected users to ensure good lighting for video submissions and to sign the token acknowledgment while waiting for results.
Hurdles Remain as Pi Network Pushes for CompletionWhile the KYC process is a key hurdle, it is only one of three requirements for the open mainnet launch. The second condition involves ensuring at least 100 applications are ready for the launch. About 80 applications have been confirmed, with developers working to close the 20-app gap before the deadline.
Source: The Times of PiNetwork
The third requirement—linked to external factors—has already been satisfied. This suggests that Pi Network is steadily progressing toward its goal, though concerns remain over whether all conditions will be met on time. If the project meets the verification and application requirements by early 2025, the long-awaited open mainnet could finally become a reality.
Pi News claims that Pi is the only global currency fortified with Quantum Resistant technology, making it tough against quantum computer attacks. It uses the Secure Hash Algorithm (SHA) 512 to bolster what Bitcoin lacks with SHA 256, boosting the Pi Network’s security.
Source: Pi News
Amid these updates, Pi Coin has seen price fluctuations. The token, currently listed only on HTX, has dropped by 5.57% in the last 24 hours, hovering around $43 with a market cap of $3 billion.
origin »PiCoin (PI) на Currencies.ru
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