Pi Network has completed the final upgrade of Testnet1! The countdown for the Mainnet transformation has begun with KYC protocol level features.

Pi Network (PI) has announced the completion of the upgrade from protocol version 19 to 22 for Testnet1 and is entering the final stage, preparing to launch Testnet2 and transition to Mainnet in the coming weeks. This update to version 23 not only brings core features such as protocol-level KYC permissions, Rust smart contracts, and parallel transactions, but also marks a new milestone for the Pi ecosystem towards Decentralization and large-scale applications.

Testnet1 Final Upgrade: Version 23 Launched

Pi Network is migrating from protocol version 22 to version 23, which is the final testing step before the Mainnet launch.

Core Functions:

1. The protocol layer embeds KYC permissions to achieve decentralization and community-driven identity verification.

2. Support for Rust language smart contracts

3. Parallel transaction processing and network scalability enhancement

Background Advantage: PI is built on the Stellar Consensus Protocol (SCP) and Stellar Core, and will directly benefit from the performance and security improvements of Stellar's upgrade to version 23.

Community Nodes and Linux Node Support

As part of the Testnet1 upgrade, Pi Network will launch a new community node container that allows users to keep their nodes running without manual operation.

In addition, the official Linux Node version has been released, allowing node operators to manage protocol updates independently or enable automatic updates, further expanding developer and community participation.

KYC protocol-level integration: Decentralization verification new model

One of the highlights of this upgrade is the direct integration of KYC (Know Your Customer) verification into the protocol layer, ensuring that the Pi blockchain continuously maintains validated network standards, while decentralizing the verification process through community nodes, reducing reliance on centralized entities. This will lay the foundation for the security, compliance, and user trust of the future Mainnet.

Mainnet Transformation and Market Reaction

Dr. Fan Chengdiao, co-founder of Pi Network, will give a keynote speech at TOKEN2049 in Singapore on October 1-2, discussing how blockchain can move beyond speculative narratives to become a socially useful Web3 tool.

However, the price of PI coin has not shown a significant bullish trend due to the upgrade:

After upgrading to version 20, it briefly rose by 3% to 0.37 USD.

Currently retreating to $3.48, down 5% in 24 hours, with a cumulative drop of 8.7% this month.

Market analysis suggests that the official launch of the Mainnet and the implementation of applications may be the real catalysts for pushing the price of PI coins to break through.

Conclusion

The final upgrade of Pi Network's Testnet1 is not only a technological iteration but also a critical prelude to the Mainnet transformation. With the implementation of KYC protocol-level functions, Rust smart contracts, and parallel transaction capabilities, the Pi ecosystem is moving towards greater Decentralization and scalability. The upcoming Testnet2 and Mainnet launches will be the most noteworthy time window for investors and the community.