Pi Network is moving forward with a major upgrade to its blockchain, aiming to become a fully compliant and verified network. The project’s new Version 23 release, based on the Stellar framework, will embed Know Your Customer (KYC) verification directly into the protocol itself. This is a significant shift from the previous system, which handled identity checks as a separate app feature.
The core team believes this change will speed up verifications and distribute the responsibility for identity checks beyond a central authority. With nearly 15 million accounts already verified, the developers hope this new, compliance-first approach will attract businesses and accelerate adoption.
The rollout will happen in phases, with the long-term goal of creating a “community-driven identity layer” that regulators can trust. However, the project’s token, PI, has not responded positively to the news. It has dropped to a price near its all-time low, down more than 88% from its February highs. The price decline is also being influenced by two large token unlocks scheduled for September.
Despite the token’s poor performance, Pi Network’s developers remain focused on building a verifiable blockchain. They are betting that demonstrating compliance and utility will eventually lead to market confidence, even if the price chart currently suggests otherwise.
September 2025, Cryptoniteuae
