””ARE WE THERE YET???””
Anyone of us that has taken a long road trip knows those words all too well. The question nags loudly in our head throughout any long trek. So this weeks news may give solace to all that have been on the journey of Pi...
For just over a month thousands of ”PIONEERS” have been helping test the systems capabilities by running NODES and just recently the developers added a WALLET for further testing. It was filled with 100 “”TEST PI”” so some swapping could transpire between those members further testing the system in attempts to ferret out any system issues.
For now the WALLET is only available for testing on the desktop node portion with release to all members on both Android & ISO APPs expected in the next week or so.
I am still not going to sell the farm and go all in on Pi for two for a few reasons. First off there is no offer to buy in YET ~ No listing or ICO. Secondly if this does pop it’s going to be one crazy ?? ride. With 13 plus million “PIONEERS” at the time of this writing Public Listing will be accompanied by a euphoric run or a crashing dump. Depending of which side of trading you like to swim the currents could turn into a riptide. Below is a little info from The Core Team who also caution folks to be weary of Counterfeit Wallets then my closing at the bottom...
FROM THE DEVELOPERS: “”The Pi Wallet can generate wallet addresses on multiple blockchains and hold different crypto assets on such blockchains using the same passphrase, but initially we are focusing on Pi assets only. Currently, it is only connected to the Pi Testnet blockchain, hence it only holds Test-Pi for testing purposes. When the Mainnet launches in Phase 3, the same Pi Wallet can also connect with the Pi Mainnet, thus holding the real Pi you will have mined at that time. As we’re in the phase of the Testnet, the purpose is to make improvements on everything including the wallet, thus it is a possibility that we may ask everyone to completely reset their wallets with Test-Pi before moving to Mainnet. Pioneers will also have the choice to reset their wallet by choice before Mainnet is live.
In general, crypto wallets are categorized into custodial and non-custodial wallets with a difference in whether there is someone else helping you manage your passphrase/secret key or assets in the wallet. The Pi Wallet is a non-custodial wallet, because the Pi servers never have access to your secret key or passphrase. To be more user-friendly and based on feedback from early testing Pioneers, the Pi Wallet secret key is represented by a list of more legible words called “Passphrases''. The secret key can be dynamically derived from the passphrase so people only need to store a passphrase without actually saving a secret key. Using passphrases instead of the derived secret key for safekeeping reduces the chance of human mistakes in recording, and at the same time, achieves the same level of security as the secret key itself. In the mobile version of the Pi Wallet to be released soon, if your phone has biometric authentication (fingerprint or face recognition), the passphrases are safely stored on your phone and can be retrieved through fingerprint or FaceID. If not or in the desktop version of the wallet, you need to copy and save it somewhere else safe, because no one else will ever have access to it to save it for you.””
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Closing-
With the excitement of Node Testing and Wallet introduction the buzz around Pi has exploded on Social Media. Some of the other MMAs have also posted news related to achievements & roadmap gains not wanting to be left out of the frenzy. It’s really a fun time to be involved in these speculative PROJECTS and I encourage anyone to join in the quest. My link is provided if you want to hop on board. You’re welcome to message me for any help establishing your “Security Circle” or any other questions you may have. You can also post comments here and I will follow up.
As always, thanks for taking a couple of minutes to read through this article, please take a minute to hit the TIP Button below & feel free to follow my further exploits by saving me as a favorite author.
Pi Invite: I am sending you 1?! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/GrandOldMan and use my username (GrandOldMan) as your invitation code.
