#PI# Pi Network (PI) has recently been discussed by multiple platforms and communities as a "Layer 1 public chain" (on par with Bitcoin and Ethereum). This recognition is primarily based on its technical architecture and the official launch of the Open Mainnet. Below is a comprehensive analysis:

---

### ⚙️ **1. Technical Positioning: Core Basis of L1 Public Chain**
1. **Consensus Mechanism and Underlying Architecture**
- Pi adopts **Federated Byzantine Agreement (FBA)** combined with **Stellar Consensus Protocol (SCP)**, and independently optimizes it into the **PIOS consensus mechanism**, supporting high throughput and low energy consumption for transaction verification.
- Unlike traditional PoW/PoS, its mobile mining model lowers the participation threshold, aligning with the "decentralized infrastructure" positioning of L1 public chains.

2. **Completion of the Four Core Technologies**
- **Cryptography**: Asymmetric encryption and multi-signature wallets have been implemented;
- **Consensus Mechanism**: The PIOS mechanism supports cross-chain interoperability (such as connecting Web2 with Web3);
- **Distributed Storage**: After the mainnet is open, a global node network will be activated to achieve true decentralized storage;
- **Smart Contract**: In development, will support dApp ecosystem in the future.

---

### 🌐 **2. The Milestone Significance of the Open Mainnet**
- **Global Access Opened**: On August 9, 2025, Pi Network officially entered **Phase III Open Mainnet**, removing firewall restrictions, allowing users to freely conduct P2P transactions, access external dApps, and Web3 services.
- **Technical Verification**: The launch of the mainnet marks its upgrade from a "test chain" to a fully functional L1 public chain, capable of independently running smart contracts and decentralized applications.

---

### 📊 **3. Market Response and Controversy**
1. **Community Support**
- Some users believe that being classified as L1 is a "technical renaming," emphasizing its equal status with Bitcoin and Ethereum (as discussed in the Gate community).
- After the mainnet launch, the trading volume surged, with a 24-hour increase of 10%–15%, reflecting short-term optimistic market sentiment.

2. **Questioning Voices**
- **Weak Ecosystem**: The current number of dApps is limited, showing a significant gap compared to mature L1s like Ethereum;
- **Centralized Residual**: Nodes are still influenced by the core team, and distributed storage has not been fully implemented;
- **Low Exchange Recognition**: Major platforms like Binance refuse to list due to "code not being open-source" and "lack of audit," weakening the credibility of the public chain.

---

### ⚖️ **Four, the Challenges and Opportunities of L1 Positioning**
| **Field** | **Challenges** | **Opportunities** |
|----------------|------------------------------------------|------------------------------------------|
| **Technology** | Incomplete smart contracts, distributed storage to be verified | PIOS mechanism supports Web2/Web3 integration, differentiated advantages |
| **Ecosystem** | The dApp ecosystem is lacking, and developer tools are immature | The open mainnet attracts external developers, and the no-code platform (Pi App Studio) lowers the barriers to entry |
| **Market** | Exchange listing hindered, liquidity restricted | Swapfone compliant listing, Binance associated feature hints at possible progress |

---

### 💎 **Summary: L1 identity has received technical endorsement, but requires ecosystem and market validation**
The core basis for Pi Network being classified as an L1 public chain is its **mainnet openness and compliance with technical architecture**, but whether it can join the ranks of mainstream public chains depends on:
1. **Smart Contract Implementation**: Can it quickly support complex dApps;
2. **Decentralized Practice**: Can global nodes take on storage and verification functions;
3. **Exchange Breakthrough**: The listing on Binance or Coinbase will be a key catalyst.