Pi Network Prepares for Protocol 28 Activation on October 16
Pi Network is entering the final stretch of its 2026 roadmap. Protocol 28 is set to launch on the mainnet on October 16, following a node migration scheduled by the 13th. However, on the market side, PI still struggles to bounce back. The token is worth 0.0824 dollars, 97.2% below its all-time high.
In brief
- Operators must upgrade their nodes to version 28.0 by October 13, before the planned activation of Protocol 28 on the 16th.
- PI is worth 0.0824 dollars on October 7 at 12:10 UTC, 97.2% below its record of 2.99 dollars reached on February 26, 2025, according to CoinGecko.
- The network counts over 29.09 million ledgers, with an average interval of 5.3 seconds between blocks, according to Pi’s public API.
Protocol 28: a new milestone for the Pi network
Known for its mobile token mining, Pi Network has been upgrading since February. After version 27.1, finalized on September 15, the network is now preparing the transition to Protocol 28.
All mainnet nodes must therefore adopt version 28.0 by October 13. The network then aims for activation on October 16. Since September 25, the testnet already runs on this version.
The official node page also asks operators to update their machines. According to the project’s instructions, each migration should cause less than five minutes of downtime. Pi also plans a gradual rollout to avoid a simultaneous transition of all nodes.
Technically, three improvements stand out. First, validators will be able to vote on delayed transaction data without waiting for each node to have all information. Next, Pi enhances smart contract management by allowing group updates. Finally, the network strengthens control over data stored by applications.
Pi remains far from its record
For now, these advancements do not change market trends. At 12:10 UTC on October 7, PI trades at 0.0824 dollars. The token loses 6.3% in 24 hours and 10.3% over seven days, according to CoinGecko.
Especially, PI has traded below 0.10 dollars since July and recently fell back under 0.09 dollars. Its market capitalization reaches about 926 million dollars, while daily volume accounts for nearly 7.9 million dollars.
The contrast becomes hard to ignore: Pi Network has multiplied upgrades since the start of the year, but the market has not yet followed.
Activity still limited
Data from the Pi block explorer show the network continues to operate. At 12:07 UTC, the chain had just reached ledger no. 29,094,719. Over the last 100 blocks, the average interval was 5.3 seconds.
Source : PI Block Explorer
However, activity remains modest. These 100 blocks contained 836 operations, about 8.4 transactions per block, while 13 blocks contained no operations. Of the last 200 operations, 160 were simple payments and 35 were claimable balances. None involved a smart contract.
The next step will therefore provide an important indicator. Protocol 28 will need to show that technical improvements can also stimulate network usage. For now, the first deadline remains October 13, the migration deadline for nodes. Traffic and the nature of crypto transactions will then help measure the real impact of this new upgrade.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hurricane Approaches the U.S. Gulf of Mexico, Shutting Down a Quarter of Oil Production and Pushing Oil Prices Higher
About 512,000 barrels per day of oil production in the Gulf of Mexico have already shut down, accounting for 25% of the region’s total output, and 16% of natural gas production has been suspended. Companies such as Shell and Chevron have evacuated non-essential personnel. It is estimated that roughly 2.7 million barrels per day, or 14% of the US refining capacity, are located within or near the projected hurricane path. Currently, crude oil and refined product prices are elevated, and US refineries are operating at full capacity to fill the gap. Mizuho Securities warns that if US refining capacity is forced offline, the consequences "will be catastrophic."
US agencies: Blockchain records do not grant legal IP ownership for NFTs
Trump “Debunks Rumors”? Says He Won’t Attack Iran Before Election; Iranian Foreign Minister Says Negotiations Held Through Mediators
On the US side, Trump stated that productive talks are ongoing with Iran, and that there will be no attack on Iran before the US midterm elections on November 3. The news pushed US Treasury yields lower, while crude oil gave back part of its gains, and gold quickly turned higher. The US has imposed a new round of sanctions on Iran, targeting 17 vessels transporting Iranian crude oil and petrochemical products. On the Iranian side, the Iranian Foreign Minister said that Iran has listened to the US response regarding the "seven-day plan" and will reply within a few days. The commander of the Islamic Revolutionary Guard Corps of Iran stated that they are ready at any time to deliver a devastating response to the enemy, and that the Strait of Hormuz is Iran's strategic red line.
NEAR Protocol Price Corrects After Accumulation: Is $8 Next, or Is the Rally Losing Momentum?
Crypto prices
More
