Amidst the bustling world of cryptocurrencies, where every day brings forth a new tale of triumph or despair, the Pi Network has unveiled its grandest chapter yet: the Version 23 Upgrade. This update, though rooted in the robust framework of Stellar v23, is a bespoke creation, tailored to the unique tapestry of Pi’s ecosystem. It promises to bestow upon its users a cornucopia of new features and controls, most notably a revolutionary approach to Know-Your-Customer (KYC) checks.
“The upgrade will maintain Pi as a KYC-verified blockchain, while offering a more distributed community-driven KYC process at the protocol level,” proclaimed the team, their words resonating with the gravity of a divine proclamation. Indeed, the very fabric of the network is set to transform, as the protocol itself will embed KYC authority, ensuring that Pi remains a fortress of trust and transparency, while empowering the community to partake in the sacred ritual of identity verification.
Pi Network’s protocol upgrades will enable functionalities including embedding KYC authority in the protocol that will maintain Pi as a KYC-verified blockchain while offering a more distributed, community-driven KYC process at the protocol level. – Pi Network (@PiCoreTeam) September 4, 2025
For years, the noble souls who ventured into the realm of Pi have faced the arduous and often soul-crushing task of getting their accounts verified. This Sisyphean ordeal has left many a user in a state of profound frustration, slowing the network’s progress like a carriage mired in mud. But fear not, for this new version aims to rectify these ancient grievances by decentralizing identity checks, allowing them to be managed by various trusted groups. Pi’s own KYC app will continue to stand vigilant, but now, the process can also be overseen by approved third-party services, thus granting users a plethora of choices and ensuring the network’s readiness for integration with external services that demand identity verification.
“Identity verification via KYC is important for the integrity of the network, compliance, and readiness for integrations by services that require identity verification,” the team noted, their words a testament to the importance of this monumental shift. Already, a staggering 15 million individuals have completed the KYC process, marking a significant milestone in the network’s journey.
However, let it be known that this grand transformation will not occur overnight. The upgrade will unfold in stages, beginning with Testnet1, followed by Testnet2, and culminating in the Mainnet. During this period, brief interruptions may occur, but the Core Team has vowed to inform users well in advance, lest they be caught unawares in the midst of this digital renaissance.
Yet, even as the Pi Network stands on the cusp of this glorious transformation, the market remains a fickle mistress. Despite the fanfare surrounding the upgrade, the Pi token continues to waver, currently trading at $0.34. Alas, the price recently plummeted to an all-time low of $0.33 on August 26, only to make a fleeting recovery. Such is the capricious nature of the crypto world, where hope and despair dance a ceaseless tango.
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2025-09-05 18:46