Pi Network Upgrades Testnet2 to v23 with Temporary Wallet Maintenance

TLDR

Table of Contents

Pi Network upgrades to Testnet2 v23 to enhance scalability and smart contract support.
Wallet maintenance is temporarily pausing services across the Pi ecosystem.
Pi’s new protocol v23 integrates Stellar Core v23 for improved on-chain contracts.
Pi Network introduces regional bank linking for wallet transactions in select areas.

Pi Network is set to upgrade Testnet2 to version 23, marking a significant step toward enhancing scalability and smart contract capabilities. As part of this process, temporary wallet maintenance has begun, causing brief pauses across the ecosystem, including exchange services. While some users may experience disruptions, the upgrade is a crucial part of Pi Network’s long-term development, aimed at strengthening its infrastructure for broader use in the future.

Pi Network Prepares Testnet2 v23 Upgrade as Wallet Maintenance Begins

Pi Network has initiated wallet maintenance ahead of the upcoming Testnet2 v23 upgrade, which is expected to improve scalability and smart contract capabilities. As part of this upgrade, Pi services are temporarily paused, including wallet access and some exchange operations. This maintenance is a step towards enhancing the network’s infrastructure and preparing it for more extensive use.

The Pi core team had previously informed the community that the maintenance would cause temporary disruptions. While some users have reported pauses, the team emphasized that these interruptions are part of a regular upgrade process. The wallet service will resume once the maintenance is complete, with the recovery time set for later today.

Testnet2 v23 Upgrade and its Benefits

The Testnet2 upgrade to version 23 is crucial for Pi Network’s long-term goals. Protocol v23 integrates the latest version of Stellar Core, v23, which will support the execution of on-chain smart contracts. These contracts are a fundamental feature for the network, as they allow for more complex transactions and decentralized applications.

The Pi core team has worked on this gradual upgrade process, ensuring that each phase is thoroughly tested before proceeding to the next. This approach is intended to reduce potential risks in the future. The upgrade will also help improve node control, network stability, and ecosystem tools, contributing to a more robust overall system.

Pi Network’s slow and methodical progress is designed to build a strong foundation for future use. While the pauses and temporary maintenance may seem inconvenient, they are essential for avoiding larger issues down the line.

Wallet Maintenance and Regional Banking Features

As part of the upgrade, Pi Network is also rolling out new wallet features. Users in certain regions now have the ability to link their bank accounts to their Pi wallets. This feature enables users to make purchases directly from their wallets, a major step towards more comprehensive financial use within the ecosystem.

In the future, users may also be able to transfer funds to their linked bank accounts, further integrating Pi Network into daily financial transactions. The development team has also shared plans for supporting multiple assets and currencies, which could transform the Pi wallet into a full-fledged digital wallet for asset management, payments, and transfers.

These features are being introduced in phases, with trials ongoing in select regions. The official Pi Network channels will provide updates as these new capabilities become available to a broader user base.

Community Response and Next Steps

The Pi Network community has been closely following the upgrade process. While many users have expressed excitement about the improvements, others have urged caution, reminding newcomers that speculative information may not always be accurate. It is important for users to rely on official announcements from Pi Network to avoid confusion.

With the Testnet2 v23 upgrade underway, the Pi Network is continuing its efforts to build a more scalable and secure infrastructure. Although the pauses in wallet and exchange activity are a temporary inconvenience, they are seen as necessary steps to ensure the network’s long-term success. As Pi Network progresses through the various stages of development, users are encouraged to remain patient and stay informed through official channels.