Pi Network is preparing for its final planned protocol upgrade, version 27, scheduled for September 15. This upgrade aims to enhance the network’s smart contract capabilities and transaction authorization processes. Concurrently, a new pricing model for application creation and editing will be implemented on August 24.
The Pi Network Core Team announced the successful deployment of version 26 on the Mainnet, continuing a series of protocol updates that began in February with version 19.6. Version 27 is designated as the last planned upgrade in this series, focusing on incorporating newer protocol features and expanding the network’s smart contract capabilities. According to the team, version 27 will introduce more flexible and secure smart contract authentication and enable more advanced ways for accounts and applications to authorize transactions.
Recent developments supporting the network’s infrastructure include the release of Pi Node version 0.6.2 last week, which brought improvements to SoloHost, node connectivity, and the Pi Desktop user experience. Additionally, a successful initial distributed computing test was conducted with five volunteer Node operators who performed computations and returned results to a Pi coordinator, indicating progress in network scalability.
Evolving App Development Economics
Starting August 24, Pi Network will implement a revised pricing model for creating and editing applications. The current model charges 0.25 PI for both app creation and editing. The new model aims to reflect actual costs more closely and may vary depending on the resources required for each action. However, applications that demonstrate real utility and usage from distinct users will remain eligible for subsidized pricing. The eligibility for this subsidized pricing will be reviewed regularly, allowing developers whose apps gain traction to potentially benefit from the lower rates.
Uncertainties remain regarding the precise criteria and frequency for reviewing eligibility for subsidized pricing, as well as the specific definition of ‘real utility and usage from distinct users.’ The Core Team has noted that the process for reviewing eligibility will be ongoing.
The transition to version 27 marks a significant milestone in Pi Network’s development roadmap, emphasizing enhanced functionality and a strategic approach to fostering utility-driven applications within its ecosystem.
Why This Matters
The materials describe a narrow update: Pi Network’s Core Team announced the successful deployment of version 26 and detailed the upcoming final planned upgrade, version 27, set for September 15. The exact nature and extent of the ‘significantly higher’ costs that could be covered by the project under the current pricing model.
Broader Context
Source materials place the factual news in this context: The article discusses updates and upcoming changes to the Pi Network protocol and related services.
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