The Pi Network Core Team has outlined its position on user growth, stating that verified identities play a central role in its ecosystem.
Summary
- Pi Network reports over 18 million verified users through its identity-based KYC system.
- Team claims verified users provide stronger trust compared to unverified wallet counts on other networks.
- Community response shows growing support for identity verification as core feature in blockchain ecosystems.
Meanwhile, the team reported that the network now has over 18 million identity-verified users. The project emphasized that this figure differs from standard wallet counts seen on other blockchain networks. It stated that ”1 million verified users on Pi is not equal to 1 million users on other networks” when comparing growth metrics.
The team explained that many blockchain platforms measure adoption through wallet creation, which may include inactive or unverified accounts.
Pi Network has built its system around identity verification through Know Your Customer (KYC) processes. The Core Team said this approach helps reduce spam and ensures that users are real individuals.
The project stated that ”verified identities are needed for meaningful transactions” in digital economies. According to the team, this supports trust between participants when assets are transferred.
The network aims to create a system where each transaction can be linked to a verified participant. This model is designed to support real-world use cases and economic activity.
Community response shows increased support
Recent statements from the Core Team have received mixed reactions in the past. However, this update saw more supportive responses from community members.
Some users noted that reaching millions of verified users before full smart contract deployment is an important step. One response stated that ”this level of verified distribution stands out compared to other networks” in public discussion.
Other comments pointed to the scale of the KYC process and its role in building a structured user base. The discussion reflected growing engagement from the community.
Moreover, Pi Network continues to operate with ongoing development of its ecosystem. The project has yet to fully enable certain features, including broader smart contract functionality.
At press time, the token traded near $0.17 with a market capitalization of around $1.7 billion. Trading volume remains active, with moderate price movement over the past week.
Other Articles
No Comment! Be the first one.