Stellar Protocol 22 Goes Live on Mainnet: Will Pi Network Follow with Open Network by December 2024?

The Stellar blockchain has marked a significant milestone with the launch of its Protocol 22 on the Mainnet, a move poised to revolutionize cross-border payments and blockchain interoperability. As Stellar secures its place as a key player in the blockchain industry, attention now turns to Pi Network, an ambitious blockchain project led by Nicolas Kokkalis and Chengdiao Fan.

With Pi Network steadily progressing toward its Open Network phase, the question remains: Will December 2024 see the long-anticipated opening of Pi Network’s ecosystem?

Stellar’s Protocol 22: Paving the Way for Blockchain Innovation

The deployment of Stellar’s Protocol 22 is a testament to the platform’s commitment to improving transaction efficiency, scalability, and user experience. Among the enhancements brought by the upgrade are faster transaction times, reinforced security protocols, and enhanced integration with other blockchain networks.

The Stellar Development Foundation (SDF) has positioned this milestone as a step toward greater financial inclusion, solidifying its use as a solution for cross-border payments and decentralized financial services. As blockchain technology continues to mature, Stellar’s latest upgrade underscores the possibilities for innovation within the decentralized financial ecosystem.

Pi Network: A Potential Open Network in December 2024

In the shadow of Stellar’s success, Pi Network—a project with over 60 million engaged users worldwide—is emerging as a formidable force in blockchain innovation. Created with the vision of making cryptocurrency accessible to everyone, Pi Network aims to democratize blockchain technology through its mobile-first mining solution and decentralized ecosystem.

Founders Nicolas Kokkalis and Chengdiao Fan have been steadfast in their commitment to building a secure, scalable, and utility-driven blockchain. With its large community of “Pioneers” actively participating in the Pi ecosystem, the platform has made significant strides toward its Open Network phase.

The Pi Core Team has outlined critical milestones that need to be achieved before Open Network can go live, including:

1. Streamlined Mainnet Migration to integrate user balances into the blockchain.
2. Large-scale KYC Verification to ensure valid identities and secure network integrity.
3. Ecosystem Development through decentralized applications (dApps) that give real-world value to Pi Coin.

While no official date has been confirmed, the progress seen so far gives reason for optimism. December 2024 could very well mark the transition of Pi Network into a fully open and functional blockchain, unlocking new opportunities for its users globally.

Why Open Network Matters

For Pi Network, the Open Network phase represents more than a technical milestone—it signifies the fulfillment of the project’s long-term vision. The benefits of a fully operational Open Network include:

1. Global Adoption
   Once Open Network is live, Pi Coin can be listed on major cryptocurrency exchanges, facilitating trade and real-world usage of the currency.
2. Decentralized Utility
   An Open Network enables the proliferation of dApps within the Pi ecosystem, fostering innovation and expanding the practical use of Pi Coin.
3. Economic Value
   By introducing tangible utility, Pi Coin will transition from a digital asset to a functional currency with real economic value, driven by supply and demand.
4. Cross-Industry Connectivity
   Pi Network aims to integrate with sectors such as e-commerce, gaming, healthcare, supply chain management, and decentralized finance (DeFi), connecting blockchain technology with everyday life.

The realization of an Open Network will not only validate Pi Network’s technical capabilities but also strengthen its role as a blockchain that bridges the gap between innovation and practical application.

Preparing for the Future: What Pioneers Should Do

As the Open Network milestone approaches, members of the Pi Network community—known as Pioneers—have a critical role to play in supporting the project’s progress. To ensure readiness, users are encouraged to:

1. Complete KYC Verification
   KYC remains a cornerstone of network integrity, ensuring compliance and preventing fraudulent activity.
2. Secure Pi Wallets
   Users should protect their Pi balances by using the official Pi Wallet and securing their account credentials.
3. Engage with dApps
   Supporting decentralized applications developed on the Pi Network will help drive the platform’s utility and adoption.
4. Stay Informed
   Regularly following updates from the Pi Core Team through the official Pi App and platforms ensures users remain aware of key developments.

Conclusion: A Bright Future for Blockchain

The successful launch of Stellar’s Protocol 22 has demonstrated the immense potential of blockchain technology to reshape industries and improve financial accessibility. Meanwhile, Pi Network stands on the cusp of a pivotal moment in its development.

If the milestones outlined by the Pi Core Team are achieved, December 2024 could mark the dawn of Pi Network’s Open Network—a step that will transform Pi from a concept into a practical, global digital currency.

For blockchain enthusiasts and cryptocurrency adopters, this represents a unique opportunity to participate in a project that seeks to redefine how technology connects people, industries, and economies.

As the world watches Pi Network’s progress, one thing is clear: the race toward Open Network is not just about technology—it is about building a future where blockchain can deliver real impact and global connectivity.

Yehey huray!Look now the Stellar Protocol 22 is Live on https://t.co/HXv2ZrQp2b about Pi Network Nicolas Kokkalis Chengdiao Fan is ready to Open Network this December 2024? pic.twitter.com/U2SmOrE8pD

— NEWS.PI (@NEWS_Pii) December 6, 2024

Source: X

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HokaNews Launches New Telegram Channel for Latest Airdrops

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Writer @Ellena

Ellena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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