On August 1st, Pi Network saw an unexpected 18% increase in its Base mining rate, contrary to the anticipated decrease. This rise comes after recent announcements regarding significant changes to the network’s base mining rate scheduled for August and October.
Pi Network decided to stop rewarding duplicate nodes and inactive KYC accounts to ensure the legitimacy and fairness of the network. This move aims to prevent exploitation that could threaten the Pi community’s integrity. Consequently, the base mining rate for August has notably increased, providing miners with additional motivation to operate ethically and within the rules.
The increase in the base mining rate is due to the over-issuance of Pi’s monthly supply limit, driven by an unexpected surge in the number of pioneers and their mining rates, facilitated by lockups.
Discussions on social media suggest that the mining rate might continue to rise over the next few months. However, it is anticipated that the rate will decrease by the end of this month. This reduction is viewed as a strategic move to align with the network’s long-awaited mainnet launch. The mainnet launch will unlock the network’s full potential, enabling integration with exchanges and other blockchains, and advancing the Pi ecosystem towards a more open and accessible framework.
Pi Network, known for its innovative approach to cryptocurrency mining, continues to make adjustments that reflect its commitment to creating a fair and sustainable ecosystem for its users.
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