Pi Wallet Launch Date: Does Pi Network Have a Wallet App?

Pi wallet app will have the real Pi inside when Pi Mainnet goes live. Pi Network is currently at a vital stage of its Enclosed Mainnet development leading up to the Open Mainnet launch. The final stage of opening the mainnet to the public is on schedule, but there is no definite timeline yet.

Therefore, the wallet currently only connect to the Testnet, with only Test-Pi for testing.

With constant speculations about the Pi network mainnet launch date, some optimistic investors see it as a way to start with a new promising crypto. While many others think that Pi coin is a multi-level marketing scam that holds no real worth at all. For investors wanting to get ready for the Pi network mainnet launch, there may be various questions about the Pi coin wallet – which is essential for Pioneers to migrate their Pi transferable balance to Mainnet and send/receive Pi coins or make payments in Pi Apps on the Mainnet Blockchain.

Hopefully, this article will ease whatever fears you may have about the Pi wallets and answer whatever questions you might have about Pi coin wallet. Before that, let’s take a brief glance at the Pi network development.

Pi Network News and Development

• Pioneers to explore Pi Network’s testnet ecosystem

One of the several updates unveiled by the Pi core team on Pi day 2023 is the new Testnet ecosystem interface, comprising testnet applications on the mobile mining blockchain.

Pi Network testnet ecosystem is located in the Pi Browser application. Through the feature, Pioneers can preview what the mainnet ecosystem might look like. The testnet ecosystem allows Pioneers to explore and test potential mainnet applications and give feedback to developers, so that Pi developers can make new improvements ahead of mainnet release.

Overall, the Pi Network testnet ecosystem allows developers to create applications to increase their eligibility for mainnet inclusion through innovation. Conversely, Pioneers will engage with the feature to explore and give feedback about their favorite applications with quality utilities. The move by the Pi core team will ensure that Pioneers are connected to creating useful applications in the Decentralized Finance (DeFi) space.

• Pi Ecosystem Ambassador

As part of the 2023 Pi Day celebration on March 14, Pi Network introduced the “Ecosystem Ambassador” programs for Pioneers in the blockchain.

According to Pi Network’s announcement, the job of an ecosystem ambassador is to find and engage builders to develop Pi applications. When ecosystem ambassadors onboard successful Pi apps into the mobile mining ecosystem, they will receive Pi rewards.

The innovation allows users without knowledge of software programming and product development to contribute to building the Pi ecosystem by identifying developers.

• Pi Connect

In September 2022, the Pi Network announced the launch of Pi Connect. Pi Connect was designed to address current Pi Network crypto limitations, as well as offering users information on Pi’s price and conversion rate for other popular cryptocurrencies.

Pi Connect allows Pi Network users to make interoperable trades with other blockchain networks like Binance Smart Chain (BSC), Ethereum (ETH), Polygon (MATIC), and others quickly, affordably and securely.

In addition to bridging with Blockchain, Pi Connect aims to provide farming and staking, a launchpad platform, lending, auctions and a marketplace, among other things.

• Pi Bridge & Wrapped Pi

In September 2022, the Pi Network announced Pi Bridge, which seeks to provide a bridge between the Pi Network and other blockchains. Pi Bridge enables data to move across networks and Pi holders to transit between them freely.

Pi Bridge, according to the development team, is a trustless gateway that removes the gap between the Pi Network and other blockchains, making Pi available and reachable to the public.

Early this year, Wrapped Pi (WPI), the Pi bridge utility token between Pi Network and Binance Smart Chain (BSC), has launched on PancakeSwap and is being tracked by CoinMarketCap.

Introduction of Pi Wallet

A popular misconception is that today’s Pi coin wallet is based on the Raspberry Pi algorithm; however, the truth is that Pi runs on a consensus algorithm based on the Federal Byzantine Agreement (FBA) and Stellar Consensus Protocol (SCP), another algorithm. It should be noted, however, that Pi is an improvement over Bitcoin because it is eco-friendly. Unlike Bitcoin, the Proof-of-Work (PoW) used does not need to burn vast amounts of electricity.

Under SCP, each node can independently determine if a transaction is valid or not, e.g., the authority of making the transition and double-spending, based on the cryptographic signature and the transaction history. However, for a network of computers to agree on which transactions to record in a block and the order of these transactions and blocks, they need to message each other and have multiple rounds of voting to reach a consensus.

Now, to answer the question, what is a Pi coin wallet? A Pi coin wallet is an app created to support the Pi network where one can mine a new digital currency known as Pi. The digital currency is yet to launch. They are mined on something called the Pi testnet. The Pi wallet has both the mobile version and the computer version (PI node desktop software)

Main Features of the Pi Wallet App

The Pi wallet was founded by experienced developers who saw the need for a more secure and convenient crypto wallet. The Pi network aims to create a product that will meet the needs of both new and experienced crypto users.

The result is a wallet that offers outstanding security and convenience. Here are some of the features that set it apart from other crypto wallets:

• Latest security protocols and technologies
• Easy to use, even for those new to crypto
• Integrates with other wallets and exchanges
• User-friendly interface
• Offers fast and reliable transactions

Main Stages of the Pi Coin Wallet

The idea was first proposed in 2018 by three Stanford graduates, Dr. Chengdiao Fan (Head of Product), Vincent McPhillips (Head of Community), Dr. Nicolas Kokkalis (Head of Technologies). Since then, the development and writing of the white paper have been rapid. To better understand it, the Pi network development has been divided into three stages:

Stage 1 – Planning And Distribution of Token

The design and token distribution stage involves modeling and designing the Pi server, distributing tokens, and ensuring everything are ready to go to the next step. The Pi server, in this stage, emulates the features of a decentralized system, just as it will do when it launches on the internet. User experience is still easy to improve at this stage.

It should be noted that Pi coin is not displayed on other wallets or exchanges and cannot be bought with either non-digital or digital currency at this stage.

Stage 2 – Deployment And TestNet

Testnet is the deployment stage, where the Pi wallet is currently. The Pi wallet enables Pioneers to mine Pi at this stage because the host software has been deployed to the Pi testnet. Multiple nodes will be hosted, and Pioneers will be encouraged to launch their nodes during testing. All these happen during the test network of the blockchain node.

The TestNet allows Pi developers to implement changes and make improvements. When the Pi community is ready, the development will move on to the next stage. However, test transactions can be made.

You will need a test wallet address to be able to test transactions. To do that, download the Pi browser, request a wallet address from a friend, and receive or send Pi. Downloading the browser gives you 100 Pi to test a transaction. It is not absolute and cannot be converted to real money.

Final Stage: Open MainNet

Pi Mainnet migration has begun on August 3, 2022. Pioneers who’ve passed Pi KYC can complete all items on the Mainnet Checklist. If the Pi coin goes live in the market as planned, it will be a open mainnet – fully decentralized, access to the other blockchains, and enable Pi coins to trade with other cryptos or fiat currencies.

The open mainnet is the final phase, which will be launched if and only if the developers feel that the wallet has been thoroughly tested and is ready for use.

At this stage, we expect the developers to enable actual Pi transfers. However, it should be noted that only accounts that are confirmed to belong to real people during the transition will not be restricted. So, if you guys have not verified your account today, you should do that now.

Pi Network Wallet Review: In Conclusion

While some people may be skeptical of Pi Coin Wallet, you may want to connect with other Pioneers. It’s free to join, and there’s nothing to lose except the amount of time you may have during the pandemic. If anything, you may have a lot to gain when Pi cryptocurrency officially enters the mainnet.

Pi Network witnessed considerable progress in 2022, attracting interest from industry-leading platforms. The project promises to solve the problem of web-scale while balancing the scarcity and availability of crypto assets. Further, the Pi Core team will continue to build in 2023, starting with hackathons planned for early January. The initiation of the mass KYC and mainnet migration will be a huge step towards its development in 2023. This is a fully-programmed space ready to explode once the network eventually goes live.

At last, please be sure to read the Pi disclaimer. As Pi Network is still in its Enclosed Mainnet period and has not yet launched the open mainnet, the platform insists that its token is currently not tradeable.

BTCC will keep you updated with the Pi ecosystem hype, especially the Pi Network launch date. Read the following articles for more information about the Pi Network:

• Will Pi Network Ever Launch? What Stage is Pi Network Now?
• Is Pi Network Legit Or Scam: Pi Cryptocurrency Real Or Fake?
• Pi Coin Price Prediction:Will Pi Ever Be Worth Money?
• Pi Network Launch Date: When Will Pi Coin Enter The Market?
• Pi Network Price Prediction Hinges on Its Open Mainnet Launch
• Pi Network Review: Is Pi a Scam?
• Pi Network 2022 Year-End Update
• Pi Network News: Will Pi Coin List on Binance?
• Pi Crypto Introduces Cross-Chain Bridge – PiBridge
• How to Create a Pi Network Invitation Code

FAQs

1. Is Pi coin real or fake?

Currently, no one knows the answer to the question whether Pi coins are real and legal. There is no cost to install the application. However, there may be issues regarding data privacy and lack of transparency.

2. Is Pi Network worth anything?

As Pi Network is still in its enclosed mainnet period and has not yet launched the open mainnet, the platform insists that its token is currently not tradeable during the period. We believe that Pi coin will have its own real value only when Pi Network launches the much-anticipated open mainnet to the public finally. So will Pi ever be worth money? We have to wait and see.

3. How much is 1 Pi in dollars?

Though several exchanges such as Huobi has listed Pi coin and shows live Pi network value, the Pi Core team asserted that all these listings were conducted independently of the team and were not approved. The team is calling for the removal of the coin from these exchanges and is warning users not to engage in trading at this time.

4. What stage is Pi Network now? Will Pi Network ever launch?

Pi Network has evolved over the years and is currently in its final stages of opening the mainnet to the public. The transition is on schedule, but there is no definite timeline yet.

5. Is Pi mining legal?

Yes, it is legal as it does not involve any cash investments to mine it. All you need is about 20 seconds of your time (typically less than 20 seconds) to click on the lightning button to start mining once every 24 hours. If you already have the app, you can wait to see if the founders build something of significant value.

6. Does it have a Pi wallet app?

Yes, but Pi wallet currently only connect to the Testnet, with only Test-Pi for testing. It will have the real Pi coins inside when Pi Network mainnet goes live, when it will enable actual Pi transfers.

7. When will the Pi coin wallet have the real Pi inside?

It will have it when Pi Network Mainnet is live. This means that Pi coin wallet will enable actual Pi transfers only after the Mainnet is launched.

8. Is Pi coin wallet a custodial or non-custodial wallet?

Pi coin wallet is a non-custodial wallet, meaning only you have access to the passphrase or the secret key of your wallet.

9. Is it possible to create another wallet if forgot my Passphrase?

Yes. You can just create another wallet. The Pi coin wallet currently only connect to the Testnet, with only Test-Pi for testing, thus no real loss for you.

But after the Mainnet launched, losing the Passphrase to your Pi coin wallet with real Pi coins cannot be cured by creating another wallet like now and will result in you losing access to all the Pi coins in that wallet forever.

10. Will passphrases remain the same after the Pi Mainnet is launched?

For the convenience of users, Pi aim for wallet passphrases to remain the same so that people don’t have to create them twice. In this case, you can get Mainnet-ready and create your pi coin wallets now.

11. Can I use other crypto wallets?

Yes. Pi Testnet and Mainnet is and will be a public blockchain, thus any crypto wallet compatible with the Pi network blockchain can work. Pi coins are fully accessible not only in your Pi coin wallet but also any other Pi compatible wallet.

However, the official Pi coin wallet is where you can get your Mainnet Pi when it is finally launched. Afterwards, you can transfer it to another wallet as needed.

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