Pi Network Clears Key Hurdles for Mainnet Launch, Eyes $1 Price Target

Pi Network has successfully tested its latest protocol upgrade, Protocol 27, which will enhance the decentralized application (dApp) environment on the network. The new protocol has shown stability at 250 transactions per block with no recorded failures during testing.

The test was a key step towards deploying the new configuration on Pi Network's mainnet, and it is expected to be implemented soon. This upgrade will add another layer of functionality to the network, including smart-contract authentication.

However, some users have been experiencing issues with the Know-Your-Customer (KYC) process, which has caused delays in migrating to the mainnet. The Pi Network core team has made significant progress in clearing these issues, opening up a fast-track lane for over 417,000 Pioneers and fixing another technical issue affecting approximately 497,000 community members.

Despite the challenges, trading volume remains capped at tens of millions, with Pi Coin currently trading around $0.09. Some analysts believe that once more Pioneers migrate to the mainnet and are able to use their unlocked coins in growing DeFi services, the price could reach $1, making it a realistic target.