The Pi Network has rolled out Pi Node version 0.5.4, introducing performance enhancements, refined reward calculations, and an improved user experience.
However, despite these technical advances, the ecosystem faces significant challenges. Mainnet activity remains low, developer confidence is declining, and Pi Coin’s price is coming under pressure, having dropped nearly 10% in the past week.
Pi Network Introduces New Technical Enhancements
On November 6, the Pi Core Team announced the release of Pi Node version 0.5.4, marking a pivotal moment for the platform. The application has been renamed “Pi Desktop” to reflect its broader functionality. Users can now conveniently access the Node, mining app, and Pi App Studio through a unified interface, making the overall experience more streamlined.
Among the key enhancements are fixes for community-reported issues related to Node mining rewards, automatic updates, and block container creation. A notable introduction is the open port verification system, which aims to ensure accurate Node bonus calculations. These changes collectively enhance both performance and the overall user experience for Pi Node operators.
“As announced in the recent update, Pi App Studio is now directly accessible from the top navigation bar in Pi Desktop, positioned alongside the Pi mining app and Node. An App Studio display issue where deployed apps were not displaying previews correctly has been resolved,” the team shared.
This release builds on the OpenMind pilot project, which showcased Pi Network’s capacity for decentralized AI training. Over 350,000 active nodes participated in this proof-of-concept, completing image recognition workloads, which indicates a growing interest and capability in decentralized applications.
Moreover, this partnership represents Pi Network Ventures’ first investment, signaling a shift toward real-world blockchain applications and usage. With these enhancements, Pi Network positions itself as a promising player in the decentralized tech space.
Pi Network Faces Pressure
Despite these advancements, the contrasting reality on the network is concerning. Data from PiScan indicates only 296 active mainnet nodes and just three validators at this time. This low level of activity raises questions about the network’s vibrancy and usability.
It’s not just the numbers; the developer community is expressing growing dissatisfaction. A poignant example is the WorkforcePool—the first winner of a Pi Network Hackathon, which has recently put itself up for sale. Concerns have been raised about high operational costs, the lack of adequate support from teams, and slow progress on development initiatives.
Launched in February, the Open Network aimed to improve accessibility and support for decentralized app (dApp) development. However, frustrations have grown over the speed of app development and the mainnet migration. Stakeholders have voiced their concerns about the lag in progress, which has left many disillusioned.
Adding to the woes is the dip in the price of Pi Coin. After an initial excitement surrounding its launch phase, the coin has faced a downward trend. While it saw a brief rise in late October, it quickly slid back down, reflecting ongoing market pressures. Current data from BeInCrypto Markets reveals that Pi Coin has declined by approximately 10% over the past week, with current trading at $0.22, down 0.168% in just a day.