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Key Advice for Pi Network Users Struggling to Complete KYC Verifications

TL;DR Pi Network requires 15 million users to pass KYC and migrate to the mainnet by January 31. Users should complete liveness checks and sign a specific token acknowledgment to get approved. The project has become increasingly popular, which explains why fraudsters often target the community. To avoid bad actors, users should rely only on official Pi Network channels and use the designated Pi Browser for Pi Wallet access. Users Should Take These Required Actions It has been more than five years since Pi Network’s birth , but the community is still awaiting the launch of its native token and open mainnet. The team previously claimed that the first major milestone before these developments is the introduction of Open Network. To see the light of day , the project requires 15 million users to pass necessary Know-Your-Customer (KYC) verifications and migrate to the mainnet (known as the Grace Period) before January 31 . Earlier this year, Pi Network announced that it is making “excellent progress,” with over 9 million successful migrations. However, many community members have complained about issues when completing the procedures. On that note, the team issued important guidance that could be of help to those in need. The developers claimed that people’s long wait for full KYC results and migration “may be caused by your need to complete actions.” They said some Pioneers must pass additional liveness checks to “ make sure the video is clear with good lighting.” “When prompted in the mining app for such additional liveness checks, please take the liveness checks and do not close the popup. Sign the token acknowledgment even if you are still waiting for your KYC results, as it is required for anyone to migrate to Mainnet anyway,” the advice reads. Other users need to secure their accounts as required in the Mainnet Checklist. To do so, they have to check the application and take the necessary steps when prompted to receive final KYC results and prepare for migration as soon as possible. Beware of These Scams Pi Network remains one of the most controversial projects in the cryptocurrency sector, but that doesn’t stop it from increasing its popularity. Last month, its application exceeded the major milestone of 100 million downloads. The project is particularly popular in Asia, creating strong community bases in nations like China, Vietnam, South Korea , India, Singapore, Japan, and others. The rising prominence, though, could be one reason why scammers often attack members of its community. To protect users, Pi Network issued two critical warnings. Firstly, they advised people to trust only information shared through official channels. Additionally, the developers created a dedicated safety page listing verified sources and URLs. Secondly, they warned users to access their Pi Wallets exclusively through the designated Pi Browser. “Ensure you’re in the correct Pi Wallet, not any fake one, to safeguard your Pi. The authentic Pi Wallet is also visually identified by a purple color in the navigation bar of the Pi Browser with a Pi logo featuring the Core Team apps logo,” the alert reads. The post Key Advice for Pi Network Users Struggling to Complete KYC Verifications appeared first on CryptoPotato . AMB Crypto

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Tech expert slams Ethereum design as ‘fundamentally broken’

Evan Cheng, a tech expert, CEO of Mysten Labs, slammed the Ethereum Virtual Machine (EVM) as a “fundamentally broken” design. Cheng suggested the only fix to the EVM’s “design tech debt” would be “shooting it in the head and start over.” Notably, Evan Cheng previously worked at Apple and, then, as Head of Research and Development at Novi and Technical Director of Meta – showing an impressive tech curriculum, now in charge of developing the Sui Network ( SUI ), an Ethereum ( ETH ) competitor. In a video, shared by Mysten Labs co-founder Adeniyi Abiodun, the CEO technically explains why the EVM design is broken. At the same time, Abiodun supported his colleague, writing this is why they “never prioritized EVM compatibility when building Sui.” The EVM, however, is a well-adopted standard for the crypto industry. Notably, other experts agree with the two executives, urging developers to “move beyond dead-end designs.” Most tech debt can be paid off, but a broken design is a dead end. This is why we never prioritized EVM compatibility when building Sui. EVM is a broken design and it’s time for this industry to move beyond dead-end designs. pic.twitter.com/l8JMcQW33V — Adeniyi.sui (@EmanAbio) January 8, 2025 Why Ethereum Virtual Machine is a broken design and a tech debt First, Evan Cheng starts explaining that the “Blockchain Trilemma” jargon has “no mathematical-backing behind it. It’s based on a wrong design.” Adding to his thought line, the tech expert pointed to few staking pools significantly controlling most of Ethereum’s validating power. This, in his opinion, “is wrong” from a decentralization perspective, also challenging the so-praised “blockchain trilemma” by EVM supporters. Cheng continues in this reasoning, explaining that the staking pool example proves that EVM supporters “science is wrong” and their “understanding is wrong” when resorting to the blockchain trilemma to somewhat argue that Ethereum is the only (or the most) decentralized layer-one blockchain. “This is what happens when you build the wrong technology,” he concludes the first argument. “There is no path from that.” Then, the expert explains that, while “tech debts” can be fixed over time, Ethereum has a “design tech debt.” So, “the only way to solve a lot of these problems is shooting it in the head and start over.” In closing, Cheng mentions all the “hate” he receives for speaking against Ethereum and Solidity (EVM’s programming language) as another example of a “fundamentally broken” design. “The only way to do it, to solve the problem, is shooting it in the head and move on from it. But, you already have so many people, companies, users, everybody, depending on it. So, even if you want to do it, it is a very difficult path.” – Evan Cheng Other experts opinion on the EVM wrong design Interestingly, Mysten Labs executives and Sui developers are not the only blockchain and tech experts highlighting Ethereum design’s fundamental flaws. Kyle Samani, managing partner at Multicoin Capital, posted on January 8 that “Ethereum’s problem is not marketing. It’s product. No amount of marketing can fix a broken product,” he said. Robert Sasu, core developer of MultiversX ( EGLD ), quoted Adeniyi Abiodun post with Evan Cheng’s video, agreeing with their arguments. “First of all, I totally agree that EVM is a wrong design, as the token standards on EVM are of a wrong design. From this you cannot build insanely well made dApps and both the users and developers are always at a higher risk. EVM was a good start but people have to move on. It is like staying with steam engines when you have high performance electric motors.” – Robert Sasu According to Sasu, the SpaceVM built on top of WASM is a superior alternative. “WASM is a high performance electric motor which can be used to run almost any software.” Moreover, the tech expert criticized “single state blockchain networks” as another broken design, proposing sharding as a working solution. Besides these two, more developers and experts from other blockchains like Solana ( SOL ), Cardano ( ADA ), Algorand ( ALGO ), and Near Protocol ( NEAR ) have also shared similar opinions throughout the years, validating the, now growing opinion, that Ethereum has a “fundamentally broken” design, preventing the ecosystem to rise in real-world adoption. Indeed, Finbold has reported how the EVM’s token design contributes to investors falling victim of phishing attacks and other exploits. Suggesting the use of blockchains with a “native token” design as a battle-tested solution to prevent the, already so-common, losses from compromised wallets. Featured image from Shutterstock The post Tech expert slams Ethereum design as ‘fundamentally broken’ appeared first on Finbold . AMB Crypto