An upgrade of the Pi Network to version 20 on its testnet has happened. The move has caused Pi Coin (PI) to increase in value by around 3%. The update marks the first step in a gradual upgrade sequence expected to progress toward version 23.
Pi Network Protocol Upgrade Marks Technical Progress as Community Awaits Mainnet Launch
According to the Pi block explorer shared by Pi network advocate Dr. Altcoin, the upgrade marks a visible milestone for the community. With version 20, Pi Network is building a stronger blockchain structure for future Mainnet activity.
The community has shown strong interest in the update. With millions of users waiting for broader adoption, each version increment builds anticipation.
Pi Network, which rose to global popularity with its mobile-first mining model, continues to operate in an enclosed ecosystem. Recently, a billion-dollar asset manager launched the first Pi Network ETP. This underscore growing institutional interest in the project.
Technical progress such as upgrades of protocols normally indicates a long-term commitment to the development of the network. Although a protocol upgrade can be a source of optimism, the bigger picture rests on actual utility, adoption and Mainnet development.
Pi Coin Price Displays Short-Term Gains as Pi Network Ecosystem Receives Boost with Domain Auction
According to TradingView statistics, Pi coin price has increased by 2.46% in the last 24 hours to trade at $0.3537. This is with an immediate past price close of $0.3452 with short-term growth. The price also increased 2.70% in the last seven days.
However, the Pi Network token is down almost 10% over the last month. Its 6-month losses are sharper at 75.65%. Still, the token’s cumulative gain since launch is more than 253%.
Pi Network token traded higher on September 12, reflecting renewed investor interest amid protocol upgrades.The sudden change in price is an indication that conditions in the broader crypto market are still influencing newer tokens. As Pi Network continues its phased upgrade plan, eyes will be on how each version shapes the blockchain.
This upgrade to version 20 is a technological accomplishment. For users and investors, the challenge is balancing the anticipation of steady development with the reality of a volatile token market.
Beside updating its protocol, Pi Network is also implementing a domain name auction. According to Pi News, the auction will run until September 30th, giving users the opportunity to secure preferred domain names linked to the Pi ecosystem. This initiative expands the utility layer of Pi Network by encouraging pioneers to build digital identities and services on Pi-powered domains.
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Source: https://coingape.com/pi-network-upgrades-blockchain-protocol-to-version-20-on-testnet/
