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Key Highlights

Pi Network has shared that it saw rapid ecosystem expansion since launching its Open Network last year. The mobile-first cryptocurrency project said that it has made significant strides in KYC verification, Mainnet migration, and developer engagement. 

In an update shared on X, the  Pi Core Team noted the combined efforts of Pioneers, developers, businesses, and KYC validators around the world. The snapshot shared by the team shows that more than 16.2 million users have migrated to the Mainnet, up from 10.1 million last year. Around 17.7 million users have completed full KYC verification, showing the network’s growing adoption. Mainnet applications have also increased to over 300, reflecting rising developer activity.

Regarding local commerce, the number has increased to 148,000 sellers and 2.1 million users, which is approximately twice as many as the previous year. Further, the network infrastructure is supported by 421,000 active nodes. 

The App Studio has enabled the development of over 46,000 apps, while hackathons have seen more than 200 submissions. Community engagement is still ongoing, with over 111 million Pi staked to rank apps and support the ecosystem.

Additionally, the global evangelist for Pi Network YouLong called for the urgent distribution of the tokens. He said, “I hope the official team can distribute the tokens earned through mining to all compliant users as soon as possible.”

Development and mainnet upgrades

Since the launch of the Open Mainnet, the Pi Network team has been working on the infrastructure. The network recently upgraded to protocol version 19.6 which is an essential update. The team is currently working on version 19.9, which will be the final upgrade before the network upgrades to version 20.

The Pi Core Team also wants feedback from the community. Pioneers are also now able to check out the Ecosystem Token Design on GitHub or give their feedback on a Google Form. In this update, the team asked questions about the usefulness of Pi over other blockchains, the use of KYC, the integration of AI, and the design of the ecosystem token.

Expanding practical use

Pi also shared that its plan is centered on improving the network. The group aims to improve the KYC verification process and make the experience easier for users. In the coming year, Pi will aim to support more apps, enhance the developer tools, and make it easier for businesses and Pioneers to join the network. 

Meanwhile, as of writing, Pi was trading at $0.162817, up 3.08% in 24 hours, with a daily trading volume of $15.35 million, according to data from CoinMarketCap.

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