Controversy over centralization concerns of Pi Coin (PI) is heating up

On the 14th, cryptocurrency specialized media WatcherGuru reported, "According to recently released data, the core team currently directly controls about 82.8 billion PI coins," adding that "this fundamentally shakes the concept of 'decentralized blockchain' that the Pi Network has been claiming."

The cryptocurrency community is abuzz with discussion over the implications of an email from the Pi Network core team, which has raised concerns about centralization in the project.

According to cryptocurrency specialized media WatcherGuru on the 14th, “According to recently released data, the core team currently has about 82.8 billion PI coins under their direct control, and this fundamentally shakes the concept of ‘decentralized blockchain’ that the Pi Network has been claiming.”

Pi Coin's total supply is limited to 100 billion coins. However, according to the media, 82.8 billion of these are reportedly concentrated in several wallets managed by the core team.

The media analyzed, “This extreme concentration of supply clearly contradicts Pi Network's claims of decentralization,” and “this is likely to cause security risks for many investors.”

It added, “Pi Network currently operates only 43 nodes, and there are only 3 global active validators,” and “such a small number of validators for a project of this scale is unusual and is likely to lead to security vulnerabilities.”

In the blockchain, a node refers to a machine that can communicate directly with the blockchain network. A validator is an organization or individual responsible for verifying transactions and adding them to the blockchain.

The core team members are said to be in possession of a large portion of the Pi Coins, and they also hold the authority to determine the project's direction.

In addition, the small number of nodes and validators operating within the Pi Network is also a cause for concern. As there are few nodes, they are likely to become overloaded, which could slow down transactions and affect the overall efficiency of the network.

Moreover, with only three active validators globally, the integrity of the Pi Network is largely dependent on these small group of organizations or individuals. If any of the validators are compromised, it could have serious consequences for the entire network.

The media concluded, "While Pi Network has achieved significant milestones in its journey, there are still some critical issues that need to be addressed to ensure the long-term success of the project."output: cryptocurrency community is abuzz with discussion over the implications of an email from the Pi Network core team, which has raised concerns about centralization in the project.

On the 14th, cryptocurrency specialized media WatcherGuru reported, "According to recently released data, the core team currently has about 82.8 billion PI coins under their direct control, and this fundamentally shakes the concept of 'decentralized blockchain' that the Pi Network has been claiming."

Pi Coin's total supply is limited to 100 billion coins. However, according to the media, 82.8 billion of these are reportedly concentrated in several wallets managed by the core team.

The media analyzed, "This extreme concentration of supply clearly contradicts Pi Network's claims of decentralization," and "this is likely to cause security risks for many investors."

It added, "Pi Network currently operates only 43 nodes, and there are only 3 global active validators," and "such a small number of validators for a project of this scale is unusual and is likely to lead to security vulnerabilities."

In the blockchain, a node refers to a machine that can communicate directly with the blockchain network. A validator is an organization or individual responsible for verifying transactions and adding them to the blockchain.

The core team members are said to be in possession of a large portion of the Pi Coins, and they also hold the authority to determine the project's direction.

In addition, the small number of nodes and validators operating within the Pi Network is also a cause for concern. As there are few nodes, they are likely to become overloaded, which could slow down transactions and affect the overall efficiency of the network.

Moreover, with only three active validators globally, the integrity of the Pi Network is largely dependent on these small group of organizations or individuals. If any of the validators are compromised, it could have serious consequences for the entire network.

The media concluded, "While Pi Network has achieved significant milestones in its journey, there are still some critical issues that need to be addressed to ensure the long-term success of the project."