Uncovering Pi Network's Audacity: Why They Don't Rely on Exchanges - hokanews
hokanews.com - In the increasingly developing crypto era, many well-known digital currencies such as Bitcoin, Ethereum and Binance Coin are traded on various exchanges. However, there is one project that stands out in a different light: Pi Network. The project created shockwaves in the crypto community with its radical decision not to get listed on exchanges as other projects usually do. Why did Pi Network choose a different path? Let us reveal its secrets and courage.
Understanding the Decision Not to List on an Exchange
One of the most striking aspects about Pi Network is their decision not to be listed on an exchange. Most other crypto projects consider listing on an exchange as an important step in their journey. This provides liquidity and allows traders to buy, sell, and exchange these crypto assets easily. However, Pi Network firmly rejects this approach.
Reasons Behind This Decision
Pi Network has good reason to take a different approach. They believe that if they are listed on an exchange, problems that commonly occur in the crypto market will arise, such as price manipulation, fraudulent trading, and big games by market “sharks.” The decision not to be listed on exchanges is part of their efforts to maintain the integrity of their project and prevent excessive volatility that often occurs in the crypto market.
Building Your Own Ecosystem
One of the biggest steps taken by Pi Network is to build its own ecosystem. They have created a decentralized network of nodes that is one of the largest among digital currencies. This allows the Pi network to run itself without having to rely on external exchanges.
The Pi Network ecosystem includes applications, platforms and services designed to support Pi users in their various activities. This creates a sustainable ecosystem where users can use these digital currencies in their daily lives without the need for an exchange as an intermediary.
BIP44 and its Important Role
To understand why Pi Network chose not to be listed on an exchange, we need to take a closer look at the concept of BIP44 (Bitcoin Improvement Proposal 44). BIP44 is a new standard used in digital currencies to manage multiple coins, multiple accounts, external and internal chains per account, as well as millions of addresses per chain.
Pi Network is one of the digital currencies integrated into the BIP44 standard. This is a sign of recognition of Pi Network as a legitimate digital currency within the crypto community, without having to list it on an exchange.
Impact on the Crypto Community
Pi Network's decision not to be listed on exchanges also impacts the crypto community as a whole. This raises the question of whether this approach could serve as an example for other projects looking to maintain greater control over their digital currencies. This discussion paves the way for deeper consideration of the regulation and oversight of crypto projects.
Creating Strong User Engagement
In an effort to create a new generation of currency, Pi Network prioritizes user engagement. They have built a strong community and are committed to providing value to their members. This creates a different atmosphere from other crypto projects that may focus more on financial aspects. Pi Network seeks to build a currency that is truly beneficial to humans.
Challenges and Obstacles Faced
Pi Network's decision not to rely on exchanges also brings its own challenges and obstacles. One of them is creating sufficient liquidity for their digital currency. Pi Network must overcome these obstacles by building alternative methods for users to exchange Pi for goods and services. Additionally, they also have to deal with different regulatory requirements in different countries.
Long Term Impact
When we look at the long-term impact of Pi Network's decision, we see that they are planning for a more sustainable future. By not relying on exchanges, they avoid sharp price changes and frequent manipulation. They also maintain their vision as a new generation currency that can be used by the whole world, even by those who are not yet familiar with crypto.
Pi Network has shown that in the fast-changing world of crypto, there is room for a different approach. Their decision to not be listed on an exchange, build their own ecosystem, and focus on user engagement has proven that they are serious about their mission of creating a new generation of currency. They face challenges and obstacles, but their vision for a more inclusive and decentralized crypto remains the main focus.
Why doesn't Pi Network bother to list on the exchange like other projects...??? The truth about the nature of the Picoin project is that it has never been listed on an exchange such as: Bitcoin, Eth, Bnb, Op, SUI, ARB,... guys!!!
— PI SILK ROAD (@PimarketApp) October 12, 2023
The reason is simple, because the list of… pic.twitter.com/HJrgDHG4F1
Pi Network has shown courage in taking a different approach in the rapidly changing crypto world. Their decision to not be listed on an exchange, build their own ecosystem, and integrate BIP44 shows that they are focused on their vision of creating a new generation of currency that is accessible to everyone.
While this approach may be unconventional, Pi Network remains true to their vision of creating a truly global and decentralized currency. This is a bold move that may change the way we view digital currencies in the future.
