The Pi Network core team has officially shut down its central node, signaling a significant step toward full decentralization. This move aligns with their long-standing mission to transition from a centrally controlled project to a fully decentralized blockchain secured by their proprietary Improved Proof of Stake (IPoS) consensus mechanism.
The shutdown coincides with preparations for a major ecosystem announcement at the Consensus 2025 event in Toronto, which runs from May 14 to 16. Pi Network representatives, including founder Dr. Nicolas Kokkalis, are presenting and are expected to reveal important updates, fueling speculation about a potential Binance listing or DeFi integration.
Pi Network plans to release its source code soon, enhancing transparency and community trust amid ongoing concerns about centralization risks. Critics have highlighted the core team's dominant role in supernode selection and their large coin holdings as centralization issues. Additionally, accessibility to network features remains limited in certain regions, with some users still requiring VPN access.
Despite these challenges, the network recently updated its mining and browser apps, showing progress ahead of the anticipated announcement. The PI coin has responded positively, rising nearly 5% and trading around $1.18 at the time of reporting.
The event at Consensus 2025 represents an opportunity for Pi Network to redefine its public perception and potentially transform its speculative mobile mining app into a legitimate Layer-1 protocol. Community reactions remain mixed, balancing excitement with cautious optimism about the project's future trajectory.