Pi Network has announced the successful upgrade of its blockchain protocol to version 20 on its testnet, leading to a notable 3% rise in the price of Pi Coin. This development is a significant step in the network’s ongoing evolution, with further updates anticipated as it aims for version 23. The positive price movement reflects growing interest and optimism regarding Pi’s future in the cryptocurrency market.
The transition from version 19 to version 20 is part of a well-structured plan of incremental enhancements aimed at reinforcing the blockchain’s architecture in preparation for future Mainnet activities. Pi Network boasts millions of users globally and continues on a steady path of upgrades, which has generated excitement within the community.
The newly implemented version 20, now live on the testnet, marks a forward leap in the network’s technological advancements. Dr. Altcoin, an advocate for Pi Network, acknowledged this pivotal change on social media, emphasizing its importance for the platform’s trajectory. Typically, such blockchain updates elevate interest and engagement from the community and potential investors, as evidenced by the recent uptick in Pi Coin’s value.
In the wake of the latest upgrade, Pi Coin’s price climbed to $0.3537 from a previous close of $0.3452. While this increase is modest, it highlights the market’s reaction to the upgrade and a resurgence in investor enthusiasm. Nonetheless, Pi Coin has experienced considerable volatility, with a drop of nearly 10% over the last month and a 75.65% decrease over the past six months. Despite this, since its launch, the coin has seen significant cumulative gains exceeding 250%.
Complementing the blockchain upgrade, Pi Network is also conducting a domain name auction that is set to continue until September 30. This initiative allows Pi users to bid on domain names associated with the Pi ecosystem, thereby enhancing the platform’s utility. The auction is designed to encourage the establishment of digital identities and services on Pi-powered domains, ultimately adding value to the entire ecosystem.
This domain auction signifies a strategic move by Pi Network to broaden the usability of its blockchain technology. By enabling users to secure domain names, Pi Network is opening doors for businesses and individuals to develop their presence and services on its platform. Such initiatives indicate Pi Network’s ongoing commitment to fostering a robust and diverse digital ecosystem.
As Pi Network progresses with these upgrades and initiatives, it continues to strive towards becoming a more established and adaptive blockchain solution in the rapidly evolving digital landscape.
