Major Pi Network Announcement for Developers, Users, Investors: Details

Despite the growing criticism online, the Pi Network Core Team continues to introduce new features that are aimed at enhancing its overall performance and providing new features and capabilities for users.

The latest announcement, made just hours ago, was regarding a crucial step taken to simulate and test Smart Contracts on its blockchain.

Pi Testnet Introduces RPC Server

Upon celebrating Pi Day (on March 14), the team outlined several new features ranging from protocol updates to second Mainnet migrations. While the latter continues to be a hot topic of discussion within the Pi Network community, which remains unimpressed despite the thousands of claimed successful migrations, the former attracted significant attention for all the good reasons.

The protocol was upgraded to version 20.2 after the previous updates in February and March to v19.6 and v19.9. The latest version, which is now days away from being moved to v21, is expected to be a game-changer for Pi Network as it lays down the foundations of smart contract capabilities.

Once successfully incorporated, this functionality will enable developers to build decentralized applications and automate blockchain-based processes. The first expected categories will include NFT-related apps, escrow services, and subscription systems.

The new move on the matter announced by the team today indicated that Pi Network’s Testnet now has an operational Remote Procedure Call (RPC) server, which is a “major step toward Smart Contracts being simulated, tested, and deployed.”

RPC servers are network applications allowing users to execute functions, procedures, and programs on a remote device as if they were local. In the blockchain industry, they act as a bridge between dApps, wallets, and the network itself, allowing programs to query data (token balances, transactions, etc) and submit new transactions to the network by translating these requests into a format the node understands.

PI Still Struggles

Despite all these developments and promises of a more functional network, the project’s native token has struggled ever since it was violently rejected at $0.30 in mid-March, following the Kraken listing pump-and-dump.

Although most mid-cap alts have posted impressive gains over the past 24 hours, PI is up by less than 1% and remains deep below $0.18. The token unlock schedule for the next couple of weeks is also worrying, as there are several days with more than 10 million coins to be released, which could increase the immediate selling pressure.

The schedule for the rest of April might be the silver lining here, with the number of new PI to be unlocked dropping to under 5 million on some occasions.

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