Pi coin is currently trading at $0.2145, a staggering 92.82% decline from its peak.
The Pi Network’s major blockchain upgrade, Protocol 23, is taking longer than expected. Developers have reported a growing number of failed transactions and network issues on the Testnet, which has slowed progress.
The first phase of the upgrade, Testnet1, is still being worked on. Because of the current pace and repeated transaction errors, it may take about another month to finish this stage. Once it is stable, the upgrade will move to Testnet2 and later to the Mainnet, where real transactions will take place.
This delay has shifted the overall timeline. The full upgrade is now expected to be ready by the end of this year or in the first quarter of 2026. Developers say it is better to fix these issues now rather than rush into the Mainnet and risk bigger problems later.
Protocol 23 is an important step for Pi Network. It aims to make the system faster, safer, and more compliant with global regulations. The upgrade will include built-in KYC verification, better scalability through Stellar Protocol alignment, Linux node support, and Rust-based smart contracts for secure app development.
The Pi community has mixed feelings about the delay. Some users are frustrated by the slower progress, while others say it is necessary for the long-term success of the network. The Pi coin price has already dropped sharply this year, adding more pressure on the project.
Pi Coin has faced a bearish few months. Its price has fallen sharply to $0.2145, a staggering 92.82% decline from its peak. Despite this downturn, upcoming developments such as the Pi Hackathon and the Protocol 23 upgrade could reverse the same.
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