Pi Network Users Finally Get What They’ve Been Demanding for Years: Details

TL;DR

• Pi Network launched the long-awaited Linux Node and disclosed upcoming protocol upgrades, which may involve temporary service outages.
• PI’s price has rebounded by 7% in the last 24 hours, reaching $0.36.

Disrupted Services in the Near Future?

Just a few hours ago, the team behind Pi Network unveiled the release of a Linux Node version – a feature that the community has frequently requested for over the last few years. It is an application that allows Pioneers to run a blockchain node on a computer running the Linux operating system. 

“The highly requested Linux Node will provide standardized and easier infrastructure for partners and services,” the disclosure reads.

The developers also lifted the curtain on the upcoming rollout of protocol upgrades that begin with Testnet1 this week and continue with Testnet2 and Mainnet upgrades in the following weeks. The initiative may potentially require planned outages of the blockchain services, which the team promised to announce in advance. 

“The protocol upgrades will enable functionalities including embedding KYC authority in the protocol that will maintain Pi as a KYC-verified blockchain while offering a more distributed, community-driven KYC process at the protocol level,” the X post concludes.

Many community members praised the release of the Linux Node and the protocol upgrades, claiming they will make the ecosystem stronger. On the other hand, some labeled the initiatives as unnecessary at the moment due to remaining problems related to migration to the Mainnet and KYC verification. 

PI Finally in Green

The aforementioned disclosure seems to have had a boosting effect on the price of Pi Network’s native cryptocurrency. Currently, PI trades at around $0.36 (per CoinGecko’s data), representing a solid 7% increase on a daily scale. 

Recall that a few days ago, the asset’s price plummeted to a new all-time low of $0.33, while the multi-million token unlocks scheduled for the next 30 days and the increased exchange inflows suggested a further downtrend.

Over the last 24 hours, however, the amount of PI coins stored on crypto exchanges decreased by approximately 1.7 million to around 415.7 million, which could be interpreted as a sign of relief for the bulls.