This cutting-edge technology allows Pi’s miners to transition their coins onto the mainnet without a third party in play.
Last weekend, Pi’s Core team developers came up with a crucial solution to the arduous process of verification in order to migrate the pre-mined coins. As millions of Pi Coins are getting re-routed to the mainnet, Pi Network (PI) introduces the Fast-Track KYC process.
Pioneers’ Voices Have Been Heard By Pi’s Core Team
This automated personal verification process bundle comes as a response to the towering complaints by the Pioneers in regards to stagnant KYC timing. Earlier, the access to the KYC services was limited to crypto miners who had at least 30 mining sessions. Now, this limit has been lifted.
Looking to migrate their Pi tokens, the Pioneers might get a notification to join the automatic KYC process straight on the Pi Wallet, if eligible. For instance, some select country residents can do the automatic personal verification process via Banxa, which typically takes minutes to process, but requires buying some starter Pi Coin.
What Does Fast-Track KYC Bring To Pioneer’s Table?
As a native solution within the Pi system, the Fast-Track KYC allows crypto enthusiasts to choose whether they want to verify with Banxa, or do a completely on-chain verification without relying on third-party series. This enables quick Pi Wallet activation while not compromising the standards of KYC acceptance, bolstering Pi Network’s user growth.
On the contrary, the automatic nature of the Fast-Track KYC technology on Pi Network (PI) empowers a stronger foundation in efficiency and relieving human resources of the network. Ultimately, this secures a level of integrity within the chain, as well as accelerates the testing of pre-mainnet apps for devs, getting ready to launch the 100 dApp bundle.
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