As part of Pi Network’s effort to prepare for opening its doors to the public, the network has taken a major leap forward with its mainnet upgrade to Protocol Version 19. Reports indicate that the upgrade has enabled the network to achieve notable advancements in transaction speed and interoperability. Curious to know more? Read on!
Enhanced Scalability with Layer 2 Solutions
The upgrade has allowed the network to integrate with Layer 2 solutions. The network has created express lanes for transactions. It can process at least 1.19 million transactions per second.
The ability of a network to handle a large volume of users and applications simultaneously determines its efficiency and competitiveness.
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Bridging the Gap: Interoperability with Other Blockchains
The upgrade has also helped the network enhance its bridging capabilities. The newly attained interoperability feature of the network allows it to easily transfer assets and data between different blockchain platforms.
Strengthening the interoperability capability is essential for expanding the ecosystem of Pi Network.
Preparing for Open Network Launch
Pi Network is currently in a testing phase, and only certain people can join and use it. The network is preparing for its Open Network launch, which is like opening its doors to the public. Once the launch is complete, anyone can join, use its crypto Pi, build apps on the network and participate in the Pi ecosystem.
Undoubtedly, the advancements the network has made through its latest update could help it achieve a much smoother launch.
Pi Network Market Overview
In the last one year, the Pi Network market has experienced a rise of 3372.5%. In the last 24 hours alone, the market has witnessed a surge of 10.9%. The price of Pi Network stands at $44.64, and the 24-hour trading volume of the network remains at $332,378.
However, in the last 30 days, the market has slipped by at least 8.9%.
Pi Network’s latest upgrade marks a significant step toward mainstream adoption. With improved scalability, enhanced interoperability, and a focus on a seamless Open Network launch, Pi is positioning itself as a serious contender in the crypto space.
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