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Pi Network’s Next Big Move—5 Key Facts About the Open Mainnet
The highly anticipated Open Mainnet has officially launched, marking a significant milestone in the development of the Pi Network. This move is expected to revolutionize the cryptocurrency space by introducing a decentralized platform that rewards users with cryptocurrency for participating in its activities.
**Key Fact 1: Increased Trading Activity and Liquidity**
The Open Mainnet will play a crucial role in Pi’s liquidity, as increased trading activity will attract more buyers and sellers. This dynamic marketplace will enable price discovery, where the value of Pi Coin is determined by open market supply and demand.
**Key Fact 2: Expansion into Decentralized Apps (DApps)**
The Open Mainnet also paves the way for decentralized applications (DApps) to be developed on the Pi blockchain. This will allow entrepreneurs and developers to create innovative digital services, further solidifying the network’s potential.
**Key Fact 3: Energy-Efficient Mining Process**
What sets the PI network apart from established cryptocurrencies like Bitcoin and Ethereum is its energy-efficient mining process through a mobile app powered by the Stellar Consensus Protocol (SCP). This approach makes it more inclusive for users without access to expensive mining equipment or substantial token stakes.
**Key Fact 4: Mandatory KYC Verification**
To ensure security and compliance, pioneers must complete Know Your Customer (KYC) verification before accessing Open Mainnet features. With over 60 million engaged users, the network aims to protect against fraudulent activities, ensuring regulatory compliance, and safeguarding its integrity. Users who fail to verify their identity may face restrictions on transactions and exchange features.
**Key Fact 5: Widespread Adoption**
The Open Mainnet is expected to see widespread adoption, with over 19 million pioneers having successfully verified their identities through Pi Network’s native KYC solution. This significant milestone indicates the network’s readiness for mainstream use.
Source: http://www.crypto-news-flash.com
