What happened?
Pi Network is considering an upgrade to Stellar Protocol 23, which could significantly enhance its performance and appeal. Currently operating on an outdated version, Pi aims to leverage new capabilities like faster transactions and smart contracts. Market speculators are also optimistic as macroeconomic conditions turn favorable with expected rate cuts by the Federal Reserve.
Who does this affect?
This development primarily affects Pi Network users, investors, and developers looking for improved blockchain infrastructure. It also impacts the broader cryptocurrency market, especially those interested in altcoins such as PI. Additionally, retail investors may find new opportunities for growth if these updates attract more developers and users to the platform.
Why does this matter?
This upgrade has the potential to boost Pi’s market appeal, making it a stronger contender in the altcoin space. If successful, it could significantly increase PI coin’s value, drawing in more investors and developers. A thriving altcoin market driven by such advancements could also indicate a broader resurgence in cryptocurrency investments, sparking an altcoin season where other digital assets experience growth.