Pi Network has successfully upgraded its blockchain protocol to version 20 on its testnet, causing a 3% increase in the value of Pi Coin. This marks a critical step in the platform’s long-term development, with more updates expected as the network moves towards version 23. As interest grows, the upgrade also highlights the increasing potential for Pi’s future in the cryptocurrency market.
Pi Network has transitioned from version 19 to version 20 of its blockchain protocol. This upgrade is part of a series of incremental changes planned for the network, with the goal of strengthening its blockchain architecture in preparation for future Mainnet activities. Pi Network, which has millions of users worldwide, is gradually progressing with its upgrades, creating anticipation within the community.
The update to version 20 is currently live on the testnet, signaling a step forward for the network’s technical development. Dr. Altcoin, a Pi Network advocate, confirmed the change via social media, noting that this is an important milestone for Pi’s journey. Pi Network’s blockchain updates typically lead to heightened interest and engagement from both the community and investors, which is reflected in the positive price movement of Pi Coin.
Following the protocol upgrade, Pi Coin has seen a modest increase in value. The coin’s price rose by 3% to $0.3537, up from the previous close of $0.3452. While this is a short-term gain, it illustrates the market’s response to the upgrade and renewed investor interest. Over the past week, Pi Coin has shown a slight increase, although its performance over the last month and six months remains mixed.
Pi Coin’s price has faced significant volatility, with a decrease of nearly 10% in the last 30 days and a 75.65% drop over the past six months. However, its cumulative growth since launch is still substantial, with gains exceeding 250%. The price increase following the version 20 upgrade indicates that some market participants are optimistic about Pi’s future progress.
In addition to the blockchain upgrade, Pi Network is hosting a domain name auction, which runs until September 30. This auction allows Pi users to bid on domain names tied to the Pi ecosystem, further expanding its utility. This move is intended to encourage the creation of digital identities and services on Pi-powered domains, which can add value to the overall ecosystem.
The domain auction represents a significant development in Pi Network’s strategy to foster a broader use case for its blockchain. By allowing users to secure domain names, Pi Network is enhancing the possibilities for businesses and individuals to build on its platform. The auction also offers an opportunity for Pi pioneers to establish a digital presence within the growing ecosystem.
As Pi Network continues to grow and evolve, these upgrades and initiatives contribute to its ambition of becoming a more established and versatile blockchain in the digital space.
Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures.
TLDR Bitcoin mining stocks surged 73-124% in September, far outperforming Bitcoin’s 3% decline Mining companies…
Never Miss Another Opportunity.
Get hand selected news & info from our Crypto Experts so you can make educated, informed decisions that directly affect your crypto profits!
Type above and press Enter to search. Press Esc to cancel.
BC Game Crypto: 100% Bonus & 400 Free Casino Spins, Claim Here!