Is Pi network real or fake?

Is Pi Network real and safe to mine?

Most of the times we come across a question about the pi network that whether it's fake or real...

Majority of the Pi miners are quitting Pi network because they are having no expectations now from the Pi founders. 

Most of the people think that it's a kind of scam called MLM (Multiple Level marketing scam) and pi network is generating revenue through ads running on the app. But still a wide range of Pi miners think that it's a real crypto project.

The main objective of the Pi core team is to bring a cryptocurrency with utilities instead of traditional trading concept of cryptocurrency coins or tokens on different exchanges like binanace, OKX, Coinbase,etc

Pi is a long-term project. It has a vast community with about 50 million pioneers.

Pi Open mainnet:

Pioneers of Pi network are eager to witness the open mainnet of Pi network. But there is still no confirm date about open mainnet to be launched. Pi network is still in enclosed mainnet.In enclosed mainnet, there are some restrictions imposed by the pi core team i.e

No external connectivity between pi network and cryptocurrency exchanges

Pioneers can access the mainnet only through pi wallet and pi apps in Pi browser.

In enclosed mainnet,Pioneer-to-Pioneer transactions can be made  through the Pi Wallet as the  Pioneers with approved KYC status will be able to use the Pi Wallet to transact in Pi.

Following uses of Pioneer-to-Pioneer, Pioneer-to-App, and App-to-Pioneer transactions will be allowed: E

 (✓)exchange of Pi for goods and services through Pi Apps for exp Pi chain mall, pi barter mall etc. 

(✓)Transfer of Pi between Pioneers for goods and services.

Following uses of pi are prohibited during enclosed mainnet.E

(✓)Exchange of pi for fiat currency.

(✓)Exchange of pi for other cryptocurrency.

(✓)Transfer of pi for future promise about fiat or cryptocurrency.

Open network period 

According to the  white paper of the Pi network, open network period will be launched when the enclosed network ecosystem is fully mature and there is progress in the KYC process.

KYC is the main problem faced by the Pi network. Doing the KYC of millions of pioneers is a difficult task for the Pi core team. But still they are working hard to overcome this problem as soon as possible.

Open network period means that there will be no restrictions or firewall imposed by the pi core team and there will be external connectivity of the Pi network with other cryptocurrency exchanges. In open network period, pioneers can exchange pi for fiat currency and  other cryptocurrencies. Pi network will be allowed to connect to any external wallets or anyone who wants to connect to the pi network.