Quick Takeaways
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Verification System Upgrade: Pi Network has shifted from phone number-based verification to email-based two-factor authentication (2FA), addressing issues related to telecom regulations and aiming for future biometric integration.
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Ad Network Integration: The project has integrated a Pi Ad Network for native apps, allowing developers to earn PI tokens through user engagement, potentially increasing demand for the token.
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Successful PiFest: PiNetwork’s recent event registered 125,000 sellers and highlighted the platform’s potential for real-world commerce, showcasing its capability to facilitate decentralized transactions.
- Token Value Decline: Despite positive developments, the PI token has dropped nearly 80% from its all-time high with ongoing community discussions on strategies to improve its value and market presence.
Pi Network (PI) News Today: April 2, 2023
Pi Network continues to make strides in its development, sharing frequent updates with users and developers. Over the weekend, the team revealed a significant change in its verification system. Instead of relying on phone numbers, which posed challenges due to telecom regulations, Pi Network now uses email-based two-factor authentication (2FA). This update aims to make the verification process more reliable and accessible.
However, the transition faced challenges. Many users did not provide emails, which complicated the verification process. To maintain security, the team conducted liveness checks and temporary SMS rechecks for some accounts, but they resolved these issues swiftly. Migrations should proceed smoothly from now on.
Furthermore, Pi Network has launched an ad network integration within its Pi Apps. This new feature allows advertisers to use PI tokens to display ads, while enabling developers to monetize app engagement. By incentivizing innovation, developers can earn revenue in PI, potentially increasing token demand, as reported by Pi News.
In addition to these developments, Pi Network hosted PiFest, a landmark online event attended by 125,000 sellers, including 58,000 active participants. During the festival, 1.8 million Pioneers utilized the Map of Pi app to locate shops, submitting over 45,000 reviews to foster trust within the community. This initiative highlighted PI’s potential as a means for real-world commerce, empowering local economies through decentralized transactions.
Yet, despite these positive milestones, the price of PI continues to decline. Since its peak on February 28, the token has lost nearly 80% of its value. Currently, it trades below the $0.7 mark, even as the broader cryptocurrency market recovers. Despite these setbacks, the Pi Network community remains optimistic about future price movements. Some users suggest that expanding the Core Team and decentralizing the token could enhance its value.
Analysts propose bullish predictions for PI, with some forecasting a rise to $5 under favorable conditions. As Pi Network forges ahead with its innovations, it paves the way for new possibilities in the cryptocurrency landscape.
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Disclaimer
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