Protocol 23: A New Era for Pi Network’s Smart Contract Capabilities

As the Stellar blockchain prepares to implement Protocol 23, developers and community members within the Pi Network ecosystem are watching closely. This upgrade introduces a suite of enhancements—ranging from transaction metadata to parallel execution—that could dramatically expand the functionality of smart contracts built on Stellar Core, including those powering.

According to developer commentary from @Diazag3, if  adopts features from Protocol 23, it could unlock new layers of programmability and performance for Pi Network’s decentralized applications.

is a smart contract module designed to issue and manage Pi tokens on the Stellar mainnet. Its core function is to mint a fixed supply of Pi tokens and peg their value to a community-defined benchmark—$314,159, known as the Global Consensus Value (GCV). This pegging mechanism is enforced on-chain, ensuring that Pi Coin maintains a stable reference point across platforms.

The script uses Stellar’s SDK to:

• Create and issue Pi tokens

• Set trust lines and asset limits

• Anchor token value to GCV

• Log and verify transactions on the mainnet

With Protocol 23, this module could be enhanced to support more dynamic features, including metadata-rich transactions and modular smart contract execution.

What Protocol 23 Brings to the Table

Protocol 23 introduces several key advancements to the Stellar network:

• Transaction Metadata: Enables more detailed tracking and auditing of smart contract interactions

• Parallel Execution: Allows multiple smart contracts to run simultaneously, improving throughput

• Reusable Module Cache: Reduces processing time by storing validated Wasm modules in memory

• Expanded Host Functions: Adds new tools for developers, including string/byte conversions and contract executable getters

These features are particularly relevant for PiCoinStable.js, which could benefit from faster execution, richer data handling, and more scalable architecture.

Smart Contracts and the Pi Ecosystem

Smart contracts are essential to Web3. They automate transactions, enforce agreements, and enable decentralized governance. For Pi Network, integrating advanced smart contracts means:

• Automated Payments: Merchants and users can transact without intermediaries

• Decentralized Finance (DeFi): Lending, staking, and asset management become possible

• Cross-Chain Value Enforcement: Tools like multi_chain_value_enforcer.py ensure GCV consistency across blockchains

The Pi Network ecosystem already includes platforms like PiChain Mall and Pi App Studio, which could leverage these smart contract upgrades to offer more robust services.

Developer Opportunities and Integration Pathways

With Protocol 23 live on Stellar’s testnet and a mainnet vote scheduled for September 3, 2025, developers have a window to prepare. For Pi Network, this means:

• Updating Pi Node to version 20.2.0

• Refactoring to use new APIs and metadata structures

• Testing compatibility with Soroban smart contracts

• Engaging the community for feedback and beta testing

These steps could position Pi Network as a leader in decentralized application development, especially in mobile-first environments.

if PiCoinStable.js uses features enhanced by Protocol 23 (e.g., transaction metadata or new APIs), This upgrade opens up opportunities for functionality enhancements, such as more advanced smart contract integrations for the #PiNetwork ecosystem.

💥Pegged Value = $314159 USD pic.twitter.com/f2JcR5gEKB

— Diazag (@Diazag3) August 6, 2025

Risks and Considerations

While the upgrade offers exciting possibilities, it also introduces complexity:

• Breaking Changes: Protocol 23 modifies RPC endpoints, SDKs, and transaction formats

• Migration Challenges: Existing apps may require significant rewrites

• Compliance and Security: New features must be audited to prevent vulnerabilities

The Pi Core Team will need to coordinate closely with developers and validators to ensure a smooth transition.

Community Response and Ecosystem Growth

The Pi community—now exceeding 70 million users—has expressed strong interest in smart contract functionality. Many Pioneers see it as the next logical step in Pi’s evolution from a mobile mining app to a full-fledged Web3 platform.

With tools like and Protocol 23 enhancements, developers can build apps that are faster, more secure, and more versatile. This could accelerate adoption in sectors like retail, real estate, and peer-to-peer finance.

Conclusion: A Turning Point for Pi Network

Protocol 23 represents more than a technical upgrade—it’s a strategic opportunity for Pi Network to expand its capabilities and deepen its impact. By integrating advanced smart contract features into tools like PiCoinStable.js, the ecosystem can offer real utility, enforce community values, and scale globally.

As the crypto world watches Stellar’s evolution, Pi Network stands poised to lead—if it embraces the tools and technologies shaping the future of Web3.

Writer @Erlin

Erlin 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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