BREAKING NEWS : Pi Network Delays Open Mainnet, Pi Coin IOU Price Drops - hokanews

BREAKING NEWS : Pi Network Delays Open Mainnet, Pi Coin IOU Price Drops - hokanew - Pi Network, a rising cryptocurrency project, has experienced delays in the launch of the main network or Open Mainnet.  The news sparked disappointment from investors, and caused IOU's Pi Coin price to drop sharply.

The Pi Network has been a hot topic of conversation in the cryptocurrency world for some time now.  This project promises to bring about a revolution in the way people interact with cryptocurrencies and blockchain technology, by offering solutions that are energy efficient and easy to use.

However, in an official announcement on May 7, 2023, CoreTeam Pi Network announced the postponement of their project's Open Mainnet.  The reason for the delay was said to be due to deficiencies in system development and testing.

The decision left many Pi Network investors and users disappointed.  Over the last few weeks, they have been looking forward to the launch of the Open Mainnet with great enthusiasm, hoping that it will increase the value of the Pi Coin IOU, the cryptocurrency created by the Pi Network. monitoring from the Twitter account @icecoinnews shows a very clear post published by that account that the pi coin IOU has fallen by around -63.54%.  This is related to the fact that the original open mainnet pi network is still uncertain when it will open mainnet, posts made by the Twitter account @icecoinnews are as follows:

$Pi price of the #PiNetwork will continue falling, if the @PiCoreTeam continue delaying the mainnet launch

#iceNetwork #Crypto #pepe does not publish articles without sources, for more details see the image below:

Twitter image source 

It was very clear from the post shared by the Twitter account @icecoinnews in the post that it was explained that the decrease in pi coin IOU of -63.54% was due to CoreTeam delaying the launch of the pi network's main mainnet.

Although the delay is very disappointing, many people still have faith that the Pi Network project has great potential in the future.  CoreTeam Pi Network has promised that they will continue to work hard to resolve technical issues and take this project to the next stage.

What is pi coin IOU? 

The Pi Coin IOU (Initial Offering Unit) is a digital representation of the Pi Network cryptocurrency which is currently still under development, and has not yet been launched onto the main network.  In this early stage, Pi Network is introducing the Pi Coin IOU as an alternative to introducing the Pi Network cryptocurrency to the market.

As an IOU, Pi Coin is being sold as a representation of claims on the Pi Network cryptocurrency to be issued in the future.  In other words, the Pi Coin IOU is a promise to deliver Pi Coins when the Pi Network is rolled out to the main network.

To buy Pi Coin IOU, users can make purchases through the official platform provided by the Pi Network.  Purchasing Pi Coin IOU is currently only available to users who have successfully mined the Pi Network app and have a verified account.  The Pi Coin IOU price fluctuates according to market factors such as supply and demand, market volatility, official announcements from Core Team Pi Network, and other unpredictable factors.

However, it is important to remember that the Pi Coin IOU is only a digital representation and cannot be cashed out at this time.  Pi Network does not guarantee that the Pi Coin IOU will be cashed out in the future or that the Pi Coin IOU price will increase.  Purchasing Pi Coin IOU involves high market risk and before buying, be sure to do your research and understand the risks involved. 

What is Pi Network?

Pi Network is a new cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining device battery. The Pi blockchain secures economic transactions through a mobile meritocracy system and a complete Web3 experience where community developers can build decentralized applications (dApps) for millions of users.

That's a little information that we can share with all the pi network communities.  
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