Pi Network News: Failed Transactions Cause Setbacks for Long-Awaited Upgrade

Given the current speed of the Protocol 23 upgrade on the Testnet and the number of failed transactions being recorded, it will likely take about another month to complete the Testnet blockchain upgrade. Once successfully completed, the upgrade will move to Testnet2, followed by… pic

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Features of Protocol 23

Protocol 23 is an important step for Pi Network. It aims to make the system faster, safer, and more compliant with global regulations. The upgrade will include built-in KYC verification, better scalability through Stellar Protocol alignment, Linux node support, and Rust-based smart contracts for secure app development.

Community Reaction

The Pi community has mixed feelings about the delay. Some users are frustrated by the slower progress, while others say it is necessary for the long-term success of the network. The Pi coin price has already dropped sharply this year, adding more pressure on the project.

Pi Coin has faced a bearish few months. Its price has fallen sharply to $0.2145, a staggering 92.82% decline from its peak. Despite this downturn, upcoming developments such as the Pi Hackathon and the Protocol 23 upgrade could reverse the same.

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FAQs

What is the status of the Pi Network Protocol 23 upgrade?

The Protocol 23 upgrade is delayed due to technical issues on the Testnet. Developers are fixing transaction failures, and the full rollout is now expected by late 2025 or early 2026.

What new features will Protocol 23 bring to Pi Network?

Protocol 23 will introduce built-in KYC, improved speed and security, support for Linux nodes, and Rust-based smart contracts to enable secure decentralized applications.

What is the current price prediction for Pi coin?

While the Pi coin price has been bearish, future predictions hinge on the successful launch of Protocol 23 and ecosystem growth from events like the Pi Hackathon.