The Mainnet Open Network process of Pi Network is scheduled to occur at 3 PM on February 20, 2025 (Vietnam time), marking a significant milestone in the development journey of this community. With millions of verified users and an expanding ecosystem, this event promises to bring numerous new opportunities.
The Breakthrough Development of Pi Network
A Six-Year Journey of Building a Community
Pi Network was launched in 2019 and quickly gained attention in Vietnam by early 2021. What sets Pi Network apart is its ability to mine cryptocurrency through a mobile app, unlike the complex methods used by Bitcoin or Ethereum. Mining Pi simply requires users to tap the lightning icon daily to confirm their presence.
Vision of Building a Peer-to-Peer Ecosystem
According to official announcements on social media X and the Pi Network app, the development team emphasized that the Open Network process will help connect the Pi community with external networks. This is part of a long-term vision to build a peer-to-peer ecosystem and a comprehensive online experience.
Concerns About Transparency
Questions About Reliability
Despite having a large user base, Pi Network has faced skepticism from Blockchain experts. Some opinions suggest that the project lacks transparency and may pose scam risks to collect personal information. This concern is reinforced by Pi Network’s prolonged delay in launching the open network, maintaining a “closed Mainnet” model without allowing transactions on other cryptocurrency exchanges.
Warnings from Authorities
In June 2023, Vietnam’s Ministry of Public Security issued a warning regarding activities related to Pi Network. According to the report, this model shows signs of a pyramid scheme, using money from earlier participants to pay later ones. This has made many people cautious about joining Pi Network with promises of unusually high profits.
Community Reactions
Joy and Expectations
News about the network launch has excited the Pi Network community. Many users have expressed joy and hope that this will be an opportunity to reap benefits after years of consistent mining.
Fears of a “Mass Sell-Off”
However, some voices are concerned that the network opening might lead to a mass sell-off of Pi coins. Tuấn Thanh, a cryptocurrency investor, shared: “Most participants are waiting for this moment to sell their Pi. I believe there will be a significant ‘dump.'”
Conclusion
The Pi Network Open Network event on February 20, 2025, is a notable occasion, bringing both opportunities and challenges for users. To avoid risks, participants should thoroughly research and consider all factors before deciding to invest or continue mining. Stay updated with official announcements from Pi Network and authorities to ensure safety during use.
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