TLDR
- Pi Network’s registration under EU MiCA grants it legal status for broader market access.
- Pi Coin’s energy use is remarkably low, at 0.0024 TWh annually, far below Bitcoin’s.
- Pi Network’s collaboration with regulators positions Pi Coin for future growth in Europe.
- Pi Network’s technical upgrades, like Protocol 23, enhance network stability and performance.
Pi Network has officially registered under the European Union’s Markets in Crypto-Assets Regulation (MiCA), marking a major milestone in the project’s growth. The registration could allow Pi Coin to achieve wider adoption and provide a clear pathway to enter larger, more regulated markets in Europe. This move comes after Pi Network’s earlier collaboration with several European regulators and its push for higher technical stability.
Pi Coin’s entry into the EU market comes at a pivotal moment, following the launch of the Valour Pi ETP in Sweden. The ETP, which provides European investors with exposure to Pi Coin without directly holding the token, reflects growing interest in Pi Coin as a regulated asset.
Pi Network’s Commitment to Energy Efficiency
A key feature of Pi Network highlighted in the MiCA filing is its low energy consumption. According to the MiCA whitepaper, Pi Network uses only 0.0024 TWh annually. This is a drastic reduction compared to the energy demands of Bitcoin, which uses approximately 185 TWh yearly.
The low energy usage is seen as a significant advantage for Pi Network, as it aligns with global sustainability efforts, particularly the decarbonization goals set by the United Nations.
By focusing on an energy-efficient model, Pi Network positions itself as one of the most environmentally sustainable blockchain networks. The project’s commitment to low resource consumption could make it an attractive option for users and investors who prioritize sustainability.
Pi Network’s Ecosystem Expansion and Strategic Partnerships
Pi Network has continued to build its ecosystem through a series of strategic partnerships. Most notably, it joined the ISO 20022 standards group, placing it among other established digital assets like XRP and Stellar (XLM).
This move reinforces the network’s commitment to global financial standards and positions Pi Coin as a more reliable and compliant digital asset within the international financial space.
Furthermore, Pi Network’s recent collaboration with Maetzler Rechtsanwalts from Austria and Prighter Ltd from the UK ensures that the platform adheres to the high privacy requirements set by the EU. This partnership aligns with Pi Network’s ongoing efforts to ensure GDPR compliance, particularly with regards to user data protection and privacy standards.
Pi Network’s Technical Advancements and Future Growth
Pi Network is also making significant strides in its technical development. The ongoing testing of Protocol 23 has led to increased network stability. Analysts note that this upgrade is crucial for supporting the future growth of Pi Coin.
In addition, the release of Pi Node version 0.5.4 improves the performance of the network, particularly in reward calculations. This update allows node operators to assess their activities more accurately and could encourage further participation in the network.
Pi Network is also expanding its use cases. In late October, Pi Network partnered with OpenMind, a company focused on artificial intelligence. This partnership brings AI-powered applications to the Pi ecosystem, allowing nodes to generate additional income by supporting machine learning workloads. This move could further increase the value and utility of Pi Coin in the global market.
Pi Network’s developments are positioning it for significant growth in the coming years. With the official MiCA registration, Pi Coin is on track to expand its reach in Europe and beyond.
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