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JUST IN: Pi Core Team's Discreet Support for High-Value Pi Exchange Transactions - hokanews

 

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JUST IN: Pi Core Team's Discreet Support for High-Value Pi Exchange Transactions - hokanews


hokanews.com - The Pi Network project, known for its commitment to inclusivity and exciting developments, continues to impress its community with quiet yet significant steps indicating a maturing journey towards the Open Mainnet launch. One of the recent noteworthy steps is the Pi Core Team's support for high-value Pi exchange transactions. 


On September 16th, the Pi Core Team shared an intriguing post on one of their official channels. The post revealed the Pi Core Team's support for an art transaction involving two renowned South Korean artists. What makes this transaction noteworthy is that the artists accepted payment in the form of Pi, the digital currency seamlessly integrated into the Pi Network ecosystem.


While most might consider this transaction a small step in the realms of art and cryptocurrency, a closer look reveals its historical significance. This transaction marks these artists as among the first in South Korea to accept Pi as payment for their art.


Calculating Pi's Value: Pi in Local Currency


To comprehend the significance of this transaction, let's examine the value of Pi in the context of South Korean Won, the local currency. In this transaction, each painting was exchanged for 1,000 Pi. Currently, at the time of writing this article, 1 Pi is approximately equivalent to 50,000 Won. This means that these artists received approximately 1 Pi = $37.73 in their local currency.


What's intriguing is that the price of Pi in this art transaction closely aligns with the current Pi IOU (Pi Over the Counter) price on exchanges, which is around $37. This raises the question of whether this Pi IOU price can be considered an indicator or reference price when Pi Network opens its Mainnet. Is the Pi Core Team silently utilizing this price to evaluate Pi when the Mainnet launches?


Endorsement for Diversifying Pi Usage


Throughout the long journey towards the Mainnet launch, the Pi Core Team has consistently supported high-value Pi transactions. They've encouraged the Pi Network community to propose diverse uses of Pi in various transactions, including payments for goods and services. This action not only fosters trust within the Pioneer community but also indicates that the Pi Network views Pi as more than just an experimental cryptocurrency but rather as a potentially revolutionary tool for everyday transactions.


In a broader perspective, steps like these signify the maturation of the Pi Network ecosystem. It's not merely an experimental concept but an evolving ecosystem that engages artists and businesses. With the Open Mainnet drawing nearer, the Pi Network community can anticipate witnessing more transactions like this and a broader usage of Pi.


 

The Pi Core Team's support for high-value Pi exchange transactions is a commendable step. It marks a significant development in the journey towards the highly anticipated Mainnet launch of the Pi Network. With artists accepting Pi as payment, the Pi Network edges closer to its vision of becoming a truly inclusive and widely used cryptocurrency. Intriguing questions surrounding Pi's price and evaluation at the Mainnet launch add a touch of mystery to this exciting journey. With support from the Pi Core Team and the Pioneer community, the Pi Network becomes stronger and better prepared to create positive changes in the cryptocurrency ecosystem.