Embarking on the Pi Network Roadmap-1
Introduction
Welcome to the dynamic and ever-evolving universe of Pi Network, where innovation and community collaboration take center stage. In this exploration of the Pi Network roadmap, we unveil the intricate layers that form the backbone of our decentralized ecosystem. Buckle up as we embark on the first part of this thrilling journey!
Token Model and Mining Mechanism: The Heartbeat of Pi
At the core of Pi Network roadmap lies a sophisticated token model and mining mechanism, a fundamental framework designed to recognize and reward diverse contributions essential to the network’s vitality. Evolving through Beta, Testnet, and the current Mainnet phase, this model addresses the changing needs of the network. Including security, growth, inclusion, utility creation, stability, and longevity.
In the early stages, the systemwide base mining rate started at a poetic 3.1415926 Pi/h, halving with every 10x increase in Engaged Pioneers. This halving-based system remained effective until March 1, 2022, supporting the network’s initial growth and security. The original mechanism continued through the Beta and Testnet phases, adapting to the network’s evolving requirements.
The game-changer came with the December 2021 Whitepaper, introducing a dynamic base mining rate for rewards issuance, ensuring a balance between growth, distribution, and predictability. The subsequent rewards issuance formula, implemented on March 1, 2022, adjusts the systemwide base mining rate monthly based on the supply limit. March 14, 2022, marked the initiation of a new mining mechanism with boosts for diverse contributions, including Pi lockups, app usage, and Node operations. These changes support long-term engagement, app ecosystem involvement, decentralization, security, and the longevity of the Pi blockchain.
In Progress: Monthly adjustments of the base mining rate, ongoing evaluation of the mining mechanism to achieve network goals, and a future analysis of rewards issued before the Open Network phase.
Pi Wallet: Your Gateway to the Crypto World
Step into the realm of the Pi Wallet, your noncustodial haven for holding and transferring cryptocurrencies, currently supporting Pi and Test-Pi. Aligned with Pi Network’s goal of a streamlined, decentralized Web3 ecosystem. The Pi Wallet integrates seamlessly into the Pi Browser app. This integration facilitates peer-to-peer transactions and ensures a smooth payment experience across Pi Apps and traditional businesses.
The Pi Wallet journey began with Testnet Wallets in April 2021, allowing testing of transactions on Pi Testnet. The Mainnet Pi Wallets, introduced on June 28, 2022, accompanied the launch of the Enclosed Mainnet. App-to-Pioneer payment functionality was later added, enabling two-way transactions. Two distinct developer wallets emerged for Pi Apps. And user interface enhancements have continually improved the overall experience.
Ongoing developments focus on enhancing security features, expanding the backend for integration into different Pi Apps, and implementing post-Mainnet migration Pi Lockups. Future plans include refining QR Code functionality for simplified local commerce integration. Integrating the Pi Wallet into a phone’s native wallet for easier Pi Commerce access.
In Progress: Strengthening Wallet security within Pi Apps, backend expansion for Pi App integration, and post-Mainnet migration Pi Lockups.
BlockExplorer: Decoding the Blockchain
The Pi Network BlockExplorer serves as your portal to explore the Mainnet and Testnet blockchains, unraveling transaction histories and network statistics. Launched on October 13, 2021, with access to the Testnet blockchain. It expanded to include the Mainnet blockchain in 2022, adding a layer of transparency and decentralization.
This essential tool empowers Pioneers to verify transaction details such as sender’s address, receiver’s address, amounts, fees, and more. As we progress, continuous improvements ensure a comprehensive view of the blockchain, maintaining transparency and accessibility.
Future Pipeline: Ongoing enhancements to the BlockExplorer for a deeper dive into blockchain transparency.
Community Events: Where Pioneers Flourish
Pi Network events are not mere gatherings; they are vibrant celebrations of ideas, collaboration, and shared identity. From creative contests and celebrations of milestones to hackathons and art festivals. These events foster a sense of unity, collective growth, and shared purpose.
Recent events include the Pi2Day 2023 Utility Challenge, where Pioneers explored a variety of utilities on the Pi platform. Monthly hackathons fuel year-round Pi App development. With ongoing initiatives such as the Pi Powered Commerce event aiming to boost Pi transactions in local businesses worldwide.
In Progress: Monthly hackathons supporting Pi App development and a Pi Powered Commerce event to stimulate local commerce.
As we conclude Part 1 of our Pi Network roadmap exploration, we’ve only scratched the surface of the innovations and community-driven initiatives propelling our ecosystem forward. Stay tuned for Part 2, where we delve deeper into Pi Hackathons, the Developer Ambassador Program, the Pi App Incubator, and the Pi-Powered Commerce Program. The adventure continues! 🚀
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