Pi Network Reaches 10 Million Verified Users Milestone

19 Apr 2024

In a significant achievement for the Pi Network, the project has announced that it has surpassed 10 million verified users, known as "KYC'ed Invite Pioneers." This milestone marks a major step forward towards the network's ambitious goals of creating an open and decentralized platform.

The announcement was made via a tweet from the official Pi Network Twitter account (@PiCoreTeam), where they expressed excitement about reaching this milestone and emphasized its importance in advancing towards their broader objectives.

The tweet read: "Pi Network has reached 10 MILLION KYC'ed Invite Pioneers! This is an amazing milestone and step towards our Open Network goals—in short, we're on track. Congratulations to everyone in the community for helping us progress to Open Network."

The Pi Network, founded by Stanford graduates Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, and Vincent McPhillip, aims to provide a decentralized cryptocurrency network that is accessible to everyday users through a user-friendly mobile app.

Unlike traditional cryptocurrencies that rely on intensive energy-consuming mining operations, Pi Network utilizes a unique consensus algorithm called the Stellar Consensus Protocol (SCP) to achieve scalability without compromising decentralization.

The achievement of 10 million verified users, each completing Know Your Customer (KYC) procedures, is a testament to the growing interest and adoption of the Pi Network.

KYC verification ensures that users are authentic and comply with regulatory standards, which is crucial for the network's legitimacy and future integration into the broader financial ecosystem.

Reaching this milestone also aligns with Pi Network's long-term vision of transitioning from a testnet phase to a fully operational mainnet. The tweet suggests that the network now possesses sufficient KYC'ed Pioneers to advance towards the ambitious goal of migrating to the mainnet with 10 million users—a significant step that would validate Pi Network's scalability and robustness.

Community members and supporters of the Pi Network have been instrumental in driving this growth, contributing to the project's success through engagement, referrals, and active participation.

The network's emphasis on inclusivity and simplicity has attracted users from diverse backgrounds, further solidifying its position as a pioneer in the democratization of cryptocurrency.

As Pi Network continues to expand its user base and advance towards its mainnet migration, the project remains focused on its core principles of accessibility, sustainability, and decentralization.

Achieving 10 million verified users is not just a numerical milestone but a testament to the growing appeal of Pi Network's innovative approach to cryptocurrency.

With this latest achievement, the Pi Network community eagerly anticipates further developments as the project moves closer to realizing its vision of a truly decentralized and user-friendly cryptocurrency network.

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