Pi Network DeFi

<p><strong>Date:</strong> Thu, Oct 17, 2024, 06:54 AM GMT</p><p>Pi Network, the popular mobile cryptocurrency mining platform with over 60 million users, has taken another significant step toward launching its long-anticipated Mainnet. The Pi Core Team (PCT) has officially released <strong>Pi Node v0.5.0</strong>, an essential update designed to prepare nodes for the shift to the Mainnet.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/b03bef81fdf0484e8266e6b590a5bca7.jpeg" />Source:: X</p><h3 id="what-s-new-in-pi-node-v0-5-0">What’s New in Pi Node v0.5.0?</h3><p>This new version transitions nodes from the original Testnet to <strong>Testnet 2</strong>, which is a key testing environment. The update ensures that node operators can seamlessly switch between test and main blockchain environments, helping Pi Network fine-tune everything before the full Mainnet launch.</p><h3 id="what-is-a-pi-node">What is a Pi Node?</h3><p>Pi Nodes play a central role in the Pi Network ecosystem by allowing users to contribute to the network&#39;s security and governance. These nodes validate transactions and maintain blockchain integrity, making them essential to a decentralized network’s operation.</p><h3 id="what-is-testnet-2-and-why-does-it-matter">What is Testnet 2, and Why Does It Matter?</h3><p><strong>Testnet 2</strong> offers a critical testing layer, enabling node operators to simulate real blockchain conditions without affecting the actual operations. Selected operators will initially test the new system, ensuring it runs smoothly and gathering feedback on any performance or compatibility issues.</p><p>This upgrade is part of Pi Network&#39;s <strong>Open Network strategy</strong>, bringing the platform closer to launching its Mainnet. Once the testing phase is complete and all features are validated, Pi Network aims to transition seamlessly to the public Mainnet, marking a new chapter for the project.</p><h3 id="recent-developments">Recent Developments</h3><p>Alongside Node v0.5.0 and Testnet 2, Pi Network has also launched its<a href="https://coinsprobe.com/pi-network-introduces-pi-influencer-program-will-it-spark-more-buzz/" rel="noopener noreferrer nofollow"> <strong>Pi Influence Program</strong></a> to boost visibility ahead of the Mainnet launch. Additionally, the <strong>KYC (Know Your Customer) verification deadline</strong> has been <a href="https://coinsprobe.com/pi-network-extends-kyc-application-deadline-to-allow-more-users-to-apply/" rel="noopener noreferrer nofollow">extended </a>to <strong>November 30, 2024</strong>, giving users more time to verify their identities and participate in the network.</p><h3 id="what-s-next">What’s Next?</h3><p>With these developments, Pi Network is inching closer to its much-anticipated Mainnet launch. For users, these updates signal exciting times ahead as the platform prepares to shift from testing to full-fledged operations. If successful, the project’s innovative mobile mining model could offer unique opportunities to millions of users worldwide.</p><p><strong>Disclaimer:</strong> This article is for informational purposes only and does not constitute financial advice. Always conduct thorough research before making any investment decisions.</p><p><strong>Also Read: </strong><a href="https://coinsprobe.com/pi-network-introduces-testnet-2-to-enhance-node-operations-and-mainnet-preparation/" rel="noopener noreferrer nofollow">Pi Network Introduces Testnet 2 to Enhance Node Operations and Mainnet Preparation.</a></p>

Pi Network Launches Node v0.5.0: A Key Step Towards Mainnet

Table of Contents

CoinsProbe

Other articles published on Oct 17, 2024

PEPE & SHIB success fuels altcoin frenzy; analysts believe they’ve found a contender

Dogecoin Bulls Charge Ahead, But This Solana-Based Meme Coin Could Outperform with Huge Gains

BlockDAG Extends 50% Bonus, South Korea Eyes BTC ETF, NEAR Marks 4 Years in Crypto

Gamers are worried that Trump will ban video games if he wins

FractureLabs Sues Jump Trading for Alleged Market Manipulation of DIO Token

Thai SEC Proposes Rules Allowing Mutual and Private Funds to Invest in Digital Assets

Join our free newsletter for daily crypto updates!