Palo Alto, United States, February 20th, 2025, Chainwire
Pi Network, a groundbreaking cryptocurrency platform with over 60 million engaged community members, today activated its Open Network phase, ushering in a new era of secure, identity-verified blockchain transactions. This milestone marks the transition of Pi’s Layer-1 blockchain from its Enclosed Network period to the external connectivity-enabled Open Network.
“Today’s Open Network launch represents a fundamental shift in how people and businesses can interact with blockchain technology,” says Dr. Nicolas Kokkalis, Pi Network Founder and Head of Technology. “A unique ecosystem where every transaction occurs between verified participants – whether individuals or businesses – establishes an unprecedented level of trust and compliant business opportunities in the crypto space.”
The platform’s novel approach combines accessibility with security through required identity verification protocols: individual users must complete Know Your Customer (KYC) verification, and businesses must undergo Know Your Business (KYB) verification.
This secure foundation supports a thriving ecosystem that includes a community of over 19 million KYC-verified users, over 10 million Mainnet users having completed requirements to participate in Mainnet, more than 200,000 decentralized nodes worldwide that can transition to Mainnet, over 100 Mainnet-ready applications, and now a growing network of KYB-verified businesses. The first verified businesses that have integrated with Pi can be found on the official Pi Network website. People should refer to this page to interact with only verified businesses integrated with Pi.
“Security and compliance are not optional,” explains Dr. Chengdiao Fan, Pi Network Founder and Head of Product. “By requiring identity verification for all participants, we’re creating a safer Web3 environment where users can more confidently engage in transactions knowing their counterparts are verified entities.”
For businesses seeking to integrate with Pi Network’s ecosystem, particularly those in crypto services, exchanges, or wallet solutions, KYB verification is now available through the official Pi Network platform. This verification process ensures regulatory compliance while maintaining the network’s high-security standards.
About Pi Network
Pi Network is a community of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem. Founded in 2018 by a team of early innovators in blockchain and social computing, with PhDs from Stanford University, Pi Network is a utilities-based ecosystem for third-party apps on a mobile web platform, with widespread (rather than concentrated) token distribution. The blockchain platform offers a mobile-first mining approach, with low financial cost and a light environmental footprint within the crypto space.
Contact
Anthony Burr
Burr Media
[email protected]