Dr. Pān Mínghuī Explains the Vision and Future of Pi Network: A New Revolution Towards the Web3.0 Era - hokanews


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Dr. Pān Mínghuī Explains the Vision and Future of Pi Network: A New Revolution Towards the Web3.0 Era - hokanews 

Strategic Partner of Guangdong Major Case Service Center

Executive Dean of Wancube Economic Research Institute


New technology! New revolution! Be the leader of the wrb3.0 era


Good evening, friends of the global Pi Network Chrome Community! Thank you for the invitation from the Global GCV Network Conference organizing committee! Thank you for your hard work! The Pi Network project is a social practice activity, not just about starting a company or developing a product. It is a massive system engineering:


It changes the old credit finance and credit system, transforms the old payment system, and changes the traditional financial system. It establishes a new model of digital economy, implements the non-nationalization and democratization of currency, leads the democratization of the global economy, and achieves inclusive and universal values. It is a leap in technological innovation. It is a new revolution with gentle and steady progress! Pi Network pioneers energy-saving mining, green mining, and a lightweight consensus mechanism that is efficient and secure. 

It realizes the transition of the encrypted economy from speculative coins to an ecosystem-supported cryptocurrency system. It is a revolution and a great gathering to achieve cheap practicality. It changes the old financial system and structure, giving birth to a new economic situation. Its digital financial structure has a strong community consensus and the world's most widely distributed network. It is the first landing catalyst for web3.0 Internet. It is a decentralized future Internet that embodies the spirit of co-construction, co-creation, sharing, and governance of web3.0, reflecting the spirit of sharing and win-win for all. 

It will play a huge leading and exemplary role in the future global economy. Such a systematic structure requires reliable technical support, as well as broad community consensus and support. It also needs to comply with legal supervision in various countries around the world. Therefore, it is a massive and cumbersome system engineering that requires long-term system creation. Without putting in a great deal of effort and energy, there won't be any free lunches! The consensus of the GCV has already formed the main consensus among the global community and pioneers, even amidst the criticisms. The Pi Network is an innovation and not a product of national will. The idea of "Heaven's Will Determinism" is absurd and thought-provoking.


It should be noted that experts can be found among the people, and the people are the creators of history. The creation of technological history has always originated from the people, and eventually reached the ideological upper echelons, where it is adopted and promoted. This has been the case with the invention of the steam engine, electricity, and the internet. The emergence of blockchain technology was initially seen as a monster by many countries, but now it has achieved widespread application and consensus. It is harmful to mystify and nationalize the concept of the blockchain. 

Empty talk undermines the nation, while hard work fosters national prosperity! The blockchain is a pioneer network that belongs to all of us, and waiting is unreliable! Although it is inseparable from politics, it plays a significant role in economic and political reform, as well as global integration and the development of the global economy. The success of new technology and the new economy comes from consensus and broad recognition and promotion of new technology. Let's work together. The main network will move forward.


June 28 has passed, with the pioneers anxiously waiting. Some pioneers feel lonely waiting, while others are extremely excited. What is the model of an open mainnet? Let me explain. The process of an open mainnet is like producing a product. First, the product model is designed, then the raw materials are obtained, molds are created, and each component is crafted. After testing, each component can be used separately. The highway (public chain nodes) is built, including KYC products, ecosystem products, converters, integrated payment plugins, and other products (components), which are all part of the process of an open mainnet. Finally, these components are assembled into a complete product, and the arrival of the all-encompassing open mainnet is announced.


Therefore, from a closed mainnet to an open mainnet, the process silently progresses step by step. You may not perceive it, but it already exists. Eventually, the open mainnet will smoothly progress, and all APK interfaces will be opened. Now, let's talk about what has been accomplished in the closed mainnet phase. Node construction is one of them, with a total of 172,872 nodes, of which 128,061 are online. Some nodes have completed testing and migrated to the mainnet. The nodes have also undergone practical operational testing. Ecosystem development covers various aspects of life, including e-commerce, labor markets, finance, games, social platforms, converters, payment tools, DIFE, GameFi, NFT, Meta Universe, and more.


In the third round of the hacking marathon, a number of creative new ecosystem applications were discovered. The toolkit SDK APK interface has been opened to the public, with limited access initially. The payment plugin is open to Web2 platform applications, and a few ecosystems are expected to be opened in July, allowing pioneers to actually use them. The main network operation mode, KYC real-name authentication, has been officially initiated, with an independent distributed real-name authentication system and distributed storage of personal information. 

Independent technological innovation is close to completion. Different regions have different standards for identification information and data collection, requiring compliance with local laws and regulatory environments. KYC also needs to match AML/CFT requirements and requires continuous testing and revision. The application system and self-application system are expected to be opened in the coming months, and the previously delayed reviews for phases 4, 5, 6, and 7 will be accelerated. The KYC gateway will be integrated with the ecosystem, allowing node migration synchronization and opening up water gates one by one. The official global fiat converter has been completed. The timing of its availability for merchants is subject to the project's considerations. 

The converter serves as a bridge and link between Web3 and Web2, providing basic infrastructure and connecting the internal and external systems, enabling the free flow of wealth in the exchange pool. As mentioned in the recent homepage update by the doctor, Pi can interface with all Web2.0 platforms, allowing Web2.0 applications to be integrated into Web3. Isn't this a global-oriented approach? With billions of users worldwide, they can seamlessly connect to Web3, which is great news.


How to understand this matter? Does everyone know about the Pi Network's P:// protocol, a decentralized search protocol and the first decentralized communication protocol? Are there any other blockchain projects like it? It can both request data from nodes and request data from http and https protocols. This has been implemented for a long time and everyone can seamlessly search for web2 applications and programs within the Pi browser. We often use the Pi browser to read news and watch movies. 

During a hackathon, a Pi payment plugin was developed, which is a very practical innovation. It is equivalent to a payment plugin integrated into Alipay. It operates on a peer-to-peer payment model using digital currency to support all payment and transfer data, which is then consensused and recorded by nodes. With this plugin, web2 applications can seamlessly connect to the Pi Network. The core team is an innovative team and the leaders of the future new world. 

According to notifications on the Hearth Forum, the mainnet opening time will be announced in the coming weeks. Given the progress of the project's development, it is highly likely that the mainnet opening time will be announced, as the overall project completion time can be estimated. The future value of Pi is limitless, depending on how much you have. The Pi Network is a network of pioneers. It is our own responsibility, and waiting for others is unreliable.


Although it is inseparable from politics, it plays a significant role in economic and political reform, as well as global integration and the development of the global economy. As pioneers of the Pi Network, we have an undisputed responsibility and obligation to support GCV and contribute to the progress of the Pi Network mainnet. We need collaboration and joint efforts from the global community and pioneers to achieve our goals.


We must actively promote the joint implementation of the GCV values of the Pi Network, strengthen the influence of Pi, and firmly advocate the Pi network culture. The Pi Network is the most inclusive cryptocurrency, and Pi is the core culture of the network, reflecting the spirit of justice, transparency, and trust. The unity within our community and the technical expertise of the core team are critical factors for the success of the Pi Network. The entry of national laws and regulations and financial institutions is an external factor. 

External factors can contribute to the achievement of internal factors, but if the necessary conditions are not met internally, the launch of the open mainnet will be delayed. If pioneers believe that external factors will determine the mainnet, it will lead to neglect of promotion and preaching by all pioneers, no effort will be made, and they will wait for the state to push the mainnet forward. This is a logical error and does not align with the strategic thinking of the country. Only by uniting and jointly empowering the GCV for the Pi Network can we achieve success.

Let's unite and coordinate with the core team to reach a consensus, support the international consensus on GCV, actively promote the mainnet, connect with more Pi ecosystem developments, manage the community well, comply with national laws, avoid crossing red lines, and work together to promote the open-source mainnet. Success is right in front of us, and every pioneer can achieve great things on this journey. The Doctor's team is a team of scientists, innovators, and true leaders of the future new world! The future value of Pi is limitless, so don't let your ignorance and foolishness be left behind on the train of wealth!


Thank you, everyone!


July 22, 2023

Article source from Doris Yin