Although the official deadline passed last week without confirmation of a successful deployment, the Core Team behind the popular project has finally issued a statement that not only announces the Protocol 27 update but also outlines another one in the works.
As usual, they urged all node operators to update their software to the new version and set the deadline for October 13.
One Down, Another One Coming
CryptoPotato previously reported that Protocol 27, which was just announced as implemented, is part of a lengthy series of upgrades throughout the year. It began in February with version 19.6, while others, such as 20.2, 22, 25, and 26, followed suit with a few delays. Protocol 27 was presented as the last planned upgrade in that particular sequence and was initially targeted for September 15.
The team failed to notify its vast user base by that date whether the update had been successfully deployed, but many on X speculated that it was live. Nevertheless, Pi Network announced hours ago that Protocol 27 is in the history books and set its sights on the next one, even though 27 was supposed to be the last.
Protocol 28 focuses on improving how the network and its applications operate under the hood. One of the changes addresses delays involving transaction data, while another will allow developers to upgrade groups of smart contracts simultaneously rather than handling them individually. The protocol will also introduce a safer method for modifying stored data as applications evolve.
Node operators must update their nodes by October 13, while the Mainnet protocol upgrade is scheduled for October 16.
PI Rebounds
The project’s native token has been quite volatile lately. In the past week alone, it had dropped to under $0.083 before the bulls took charge and pushed it to a multi-week peak of $0.094. However, another rejection followed that drove it to $0.085.
The more favorable market conditions for altcoins have helped in the past 12 hours, as PI currently sits above $0.09 after a 5.5% increase on a 24-hour scale. Its market cap has reclaimed the $1 billion level, according to CMC data, making it the 65th-largest cryptocurrency by that metric.
Source: CryptoPotato
