Pi Network: 18 Million Users or Just 18 Million Dreams?

by

Pi Network (PI) has allegedly hit 18 million verified users, which is impressive if you’re into counting things that may or may not exist. They’re calling it a “structural advantage,” which is just a fancy way of saying, “We’re not like the other crypto networks, we’re quirky.”

According to the Pi Core Team, verified identities are the new black. Because apparently, in the world of crypto, knowing who you’re dealing with is revolutionary. Who knew?

There are over 18 million identity-verified users on Pi.

But here’s the kicker: 1 million verified users on Pi ≠ 1 million users on other networks.

Most networks measure growth in accounts.

Pi measures it in… drumroll… verified users. Groundbreaking.

– Pi Network (@PiCoreTeam) April 16, 2026

How Did Pi Verify 18 Million People? Magic, Mostly.

Pi’s in-app KYC system is like a bouncer at a club, but with AI. Human reviewers and AI-assisted fraud detection worked together to process 526 million verification tasks. That’s a lot of tasks. Like, “I’ll never finish this laundry” kind of a lot.

Each submission went through 30 checks. Thirty. That’s more steps than it takes to assemble an IKEA bookshelf.

Validators got paid 0.05 PI per task, which is 22 times the standard mining rate. So, basically, they’re the crypto equivalent of a barista who finally got a raise.

PI is trading at $0.17, up 3.43% today. Or, as I like to call it, “enough to buy half a latte.” Market cap? $1.75 billion. Nice.

Backlogs: The Never-Ending Story

Despite the fanfare, 44 million users are stuck in KYC limbo. That’s more people than can fit in a small country. Or a large IKEA on a Saturday.

“At this rate, it’s going to be 10 years before some people see their Pi,” one pioneer joked. Probably while crying into their coffee.

Some users have been waiting over two years. Others lost coins because their KYC didn’t clear in time. It’s like waiting for a package that never arrives, but you already paid for it.

Pi introduced a FastTrack option, which verified 3.36 million more users. So, yay? But with 16 million Mainnet migrations done, there’s still a gap. Because nothing says “success” like a backlog.

“If eligible, users will see this option directly within the Pi Wallet app, allowing them to begin KYC and gain immediate access to the Pi Mainnet wallet and its utilities,” the team wrote. Translation: “We’re trying, okay?”

Whether Pi’s identity-first approach works depends on how fast they clear the backlog. Because right now, their most loyal users are just sitting there, staring at their screens, muttering, “Is this real life?”

Read More

2026-04-16 22:25