JAKARTA The recent Pi Network has become increasingly popular. The skyrocketing popularity of the Pi Network cannot be separated from Pi Coin's registration on the exchange. However, Pi stated that it was not the official pi coin.
Pi Network is a crypto mining project that uses mobile phones. This is an alternative mining that is known to be energy wasteful and requires high computing devices.
As reported by CryptoPotato, Pi Network has been around since 2018 and launched Pi coins to be mined by its community members, called "Pioneers," in March 2019. These assets can be traded after Pi Network upgrades to Open Mainnet.
Pi Network in Closed Mainnet Status
Currently, the network is in a Closed Mainnet status, which makes its interaction with any third party "technically impossible".
The blockchain project issued a similar rebuttal on December 29, in which it said it was aware of reports that some unofficial exchanges were trying to register Pi or other products claimed to be genuine cryptocurrencies.
"It is important to reiterate that Pi is currently on Closed Network and is not approved by Pi Network to be registered on any exchange or for trading, and Pi Network is not involved with any of these claimed posts or lists," said the December 29 announcement.
Have 35 members
Pi Network, which claims to have about 35 million members already mined Pi coins in smartphone-based blockchain mining apps, is scheduled to upgrade to Open Mainnet. Currently, it is processing its KYC members to include them in an upgraded network where they can trade their Pi coins.
Recently, Pi Network members and influencers have been promoting the upcoming Open Mainnet on social media aggressively, resulting in a lot of interest among crypto exchanges and investors. As of November 15, the network said it had passed two million followers on Twitter, a sign of its increasing popularity.
But, officially, Pi coins are not available for listing or for purchase. Those interested should join the network and mine it.
Anticipating brighter prospects for the Pi coin, several crypto exchanges have reportedly listed the asset on their platform. Huobi Justin Sun is reportedly one of them, as revealed by crypto journalist Justin Wu in a tweet.
Pi Network Announcement Regarding the Crypto Exchange that Trades Pi Coin
In a statement on January 6, the team behind the project once again stressed that in a closed Mainnet state, the network is protected by a firewall, and no third party or exchange can interact with it unless it is autotorated, which is not, is not.
"Pi Network has no relationship with any of these exchanges, which act without consent, authority, or network engagement. Furthermore, this exchange-traded product is not the real Pi token," the Pi Network announced.
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