Co-founder Chengdiao Fan is slated to speak at TOKEN2049 in Singapore.
Pi Network is in the final stage of its testnet blockchain upgrades after completing upgrades from protocol version 19 through version 22 on Testnet1. The developers stated that the improvements prepare the network for more upgrades, with Testnet2 and the mainnet to follow in the coming weeks.
According to Pi Network’s development team, users may encounter temporary service interruptions as new versions are integrated, but outages will be brief and announced in advance. Planned interruptions may also extend to Pi’s availability on third-party services such as centralized exchanges while they process the updates.
As part of the Testnet1 process, Pi Network will add a new community Node container for participants to continue running operations without taking action on their side.
“Pi will be pushing out the new community Node container for Testnet1, and no action is needed from users,” the team wrote in a blog post.
Version 23 of the project builds on earlier upgrades, including the release of version 20 that improved some of its core blockchain functionalities and application programming interfaces (APIs). Pi Network is shifting from protocol version 22 to version 23, the final step in testnet preparations before mainnet activation.
The timing of Pi’s protocol advancement is against the backdrop of the Stellar network’s transition to version 23. Pi Network is built on the Stellar Consensus Protocol (SCP) and Stellar Core, so the project will benefit from Stellar upgrades.
Pi Network Testnet1 version 23 has several new features, including coding smart contracts in Rust, parallelizing transaction execution, and network scalability. Pi coin holders will also receive a protocol-level framework to embed know-your-customer (KYC) authority. This helps uphold the blockchain’s verification standards, adding to the decentralized and community-driven process for validating user identities.
Developers and validators will conduct tests to detect and resolve potential issues before the full mainnet launch, though investors may see little immediate impact.
Alongside the protocol changes, Pi Network has released a Linux Node version to extend support for developers and community operators. Linux node operators can either self-manage protocol updates or activate automatic updates through Pi Network to synchronize with the latest versions more easily.
“The Linux Node is a feature that has been frequently requested by the community over the past few years. While it is not directly tied to Node rewards, and therefore, may not impact everyday participation immediately, the update allows for greater accessibility and ecosystem participation,” developers noted during the node announcement.
As reported by the protocol last week, Dr. Chengdiao Fan, one of Pi Network’s co-founders, will be a featured speaker at the TOKEN2049 conference in Singapore, scheduled for October 1-2. Fan will discuss several talking points, including blockchain and crypto’s potential as tools for real-world societal utility.
Attendees expect her presentation to cover problems in Web3 and how crypto projects can push beyond the “speculation ideology” towards more innovative applications with tangible positive impact in finance.
TOKEN2049 is considered one of the largest and most influential conferences in the blockchain industry. Organizers expect more than 25,000 attendees, along with 300 speakers and 500 exhibitors from a broad cross-section of the global Web3 community.
The event’s format includes talks, workshops, meet-ups, hackathons, and networking opportunities for developers, investors, executives, and policymakers.
Meanwhile, Pi Coin has yet to record any signs of bullish momentum in response to the upcoming upgrades. After the network’s move to version 20, the token gained 3%, climbing from $0.34 to $0.37. But a price correction had dragged down the token back to $3.48, tanking 5% in the last 24 hours, and 8.7% for the month.
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