Pi Coin (PI) Announces New Update – Here Are the Details

Pi Network (PI) is rolling out its recently announced upgrades inspired by the Stellar-based Protocol 23.

According to the statements, these updates aim to increase the functionality of the blockchain and ensure the long-term sustainability of the network.

The main innovations announced to come with the updates are as follows, according to the developers’ own statements:

• Protocol v23 Update: The transition from the older v19 version to Protocol v23 introduces modular smart contract layers and improved consensus mechanisms for developers, enabling the creation of more complex decentralized applications (dApps).

• Linux Support: The newly released Linux node software extends Pi Network’s decentralized infrastructure beyond Windows and macOS systems, allowing the network to expand to a broader validator base.
• KYC Integration: The update embeds the Know Your Customer (KYC) process directly into the protocol, enabling third-party authorities to assist with the verification process. This aims to ease the transition of Pi users to the Mainnet.

While technical advancements are prevalent, the upgrades don’t appear to have had an immediate impact on the PI token’s market capitalization, with the token trading 88% lower than its all-time high.

*This is not investment advice.