Today, we will tell you about Pi’s Open Network. Pi’s Open Network Has Launched. Let’s start:
Pi’s Open Network Has Launched
Pioneers Open Network has launched! This means that connectivity to external sources for Pi Network is now available to users of the Pi Community around the world. Open Network has unlocked Pi’s vibrant ecosystem, ingenuous applications, and an extensive peer-to-peer network to integrate with the larger blockchain ecosystem. Open Network was key to Pi’s vision of creating an inclusive, user-friendly, and widely used cryptocurrency available to all.
As noted in Pi Network’s Open Network date announcement, today’s launch marks an important milestone in connecting Pi Network—and the Pioneers who have helped push Pi forward in the last six years—with the rest of the world.
When external connectivity is installed, Pioneers can benefit from Pi’s utility-based ecosystem and apps to connect with other systems and networks. Pioneers also can participate in transactions outside of those of the Pi ecosystem, extending the scope and utility of Pi’s current capabilities.
A list of KYB-verified businesses is also available to Pioneers to browse and access via the following page, which helps Pioneers determine the companies that have completed The Pi Network’s KYB review process. Are you not included? Businesses may request KYB Verification through this site.
Open Network also brings support for integrations with central exchanges (CEXs) and onramps that offer additional ways of purchasing Pi to use within the Pi ecosystem and other third-party applications, Node updates, and more!
Excited? You must be! Watch this video by one of the Pi Founding Partners, Chengdiao Fan, and continue reading for more details regarding Open Network. Open Network opportunities and releases are currently available. Be prepared to participate in the forthcoming Open Network Challenge next week within the Pi mining application to gain knowledge and discover the possibilities that Open Network has to offer directly.
Connecting Pi Securely With External Systems
Onramps and Centralized Exchange (CEX) Integration
Pioneers are now able to connect their Pi to external networks and systems. CEX-based platforms and onramps have been integrated into Pi Network after they passed KYB. These KYB-verified third-party solutions allow Pioneers to be connected with the entire crypto ecosystem and the world of fiat, and the reverse is true.
Beware of using third-party services like CEXs that claim to have been integrated with Pi; however, they are not included as such on the KYB services page. Doing so can put you at risk of fraud or scams. Check out the “Business Compliance Requirements” section below for more details.
Business Compliance Requirements
To ensure the security and integrity of the ecosystem To ensure the safety of the ecosystem, participation in Mainnet blockchain-related activities requires KYC (Know Your Customer) verification for Pioneers as well as KYB (Know Your Business) verification for companies. This applies to businesses (not individuals) looking to access Pi Mainnet, the Pi Mainnet, Mainnet Nodes, or any additional Mainnet connected services in addition to the ones that provide critical infrastructure, like ramps and ramps bridges, exchanges and bridges, as well as Web3 services for wallets.
Our KYB procedure is designed to ensure compliance with regulations and the safety of the ecosystem. Pi strives to create an unsecured Web3 area where Pioneers can use external connections, access their Pi, connect with KYB’d partners and businesses that interface with Pioneers who have been KYC’d, and reverse.
Only KYB-verified companies are eligible to establish individual, non-custodial Mainnet Pi Wallets, which allow users to conduct transactions inside the Pi ecosystem. This additional layer of authentication minimizes the chance of fraudulent transactions and builds trust between Pioneers. Any legitimate, real-world firm will have no issue obtaining KYB.
Businesses that wish to join Pi and complete KYcanto do so through this. By using the standards set forth, Pi Network enhances ecosystem security, credibility, and longevity, creating an established foundation for future integrations with trusted firms.
Check out the page to view a complete list of businesses that have completed KYB. Be cautious when transacting Pi with any company not mentioned on that list. Due to the KYB prerequisites for accessing Pi Mainnet wallets, some businesses could claim to help Pi-related companies even though they don’t have an actual Pi Mainnet wallet. Be wary of engaging with these businesses to stay clear of fraud.
Node Release
In the case of Oan pen Network, the firewall that was in place during the Enclosed Network has been removed. Anyone can now technically join nodes on Mainnet’s Mainnet blockchain to operate the protocol and connect with the blockchain. Before that, the preferred nodes will be those with significant historical contributions and high-reliability scores. Pioneers will gradually be asked to move the nodes they have on Testnet to Mainnet using the desktop Node UI. The rank of nodes will be available shortly.
Node 0.5.1 was released recently and is now available to the Pi community. This version:
- Users with Blockchain API service to use Blockchain API are enabled to move data during an upgrade of the protocol using the introduction of an easy UI button.
- Created a consistent publicly accessible key to all Nodes to prepare the public Node ranking posts and
- Improved performance of nodes that reduced CPU stress and made for smoother operation for operators of nodes.
Next Week: Learn More and Explore Open Network Via In-App Challenge
The following week, in celebration of Open Network and to help support the options and utilities currently available, pioneers are invited to participate in the new Open Network Challenge, which enables them to get more information on Open Network and explore the ecosystem. This is an interactive method to learn about the different aspects of the Pi ecosystem, help utilize its various applications, and earn exciting rewards along the way!
In this Open Network Challenge, you must complete 12 tasks that will guide you through the new content released today, aid you in taking critical personal actions like reminding your team to KYC and move to Mainnet, and also celebrate with Pi’s numerous social media apps, such as Pi Chats and Fireside Forum.
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