tl;dr
The Pi Network is facing controversy over the management of SuperNodes, raising concerns about centralization and fairness. During the testnet phase, only three SuperNodes were managed by PCT in Canada and Finland, contrasting with major blockchains like Bitcoin and Ethereum. While the number of act...
The Pi Network is facing controversy over the management of SuperNodes, raising concerns about centralization and fairness. During the testnet phase, only three SuperNodes were managed by PCT in Canada and Finland, contrasting with major blockchains like Bitcoin and Ethereum. While the number of active nodes has increased, details about their identity and operation remain unclear. The criteria for becoming a SuperNode are unknown, leading to questions about fairness and exclusion of regular Pioneers.
Justin Bons, Founder & CIO of Cyber Capital, criticized Pi Network's technology, tokenomics, and centralization. To build trust and fairness, PCT must disclose SuperNode selection criteria, publish a list of approved nodes, and establish clear participant reward mechanisms. Despite their crucial role in validating transactions and maintaining the blockchain, the selection process for these nodes remains opaque, fueling doubts about the network’s decentralization and fairness.
The centralized beginnings of SuperNodes during the testnet phase starkly contrast with major blockchains like Bitcoin or Ethereum, which have thousands of nodes worldwide. However, details about their identity and operation remain unclear. After transitioning to an open network, PCT claimed to have expanded SuperNode roles to the Pioneer community. However, the criteria for becoming a SuperNode remain unknown, leading to questions about fairness and exclusion of regular Pioneers.
Community reactions and fairness issues have also emerged. Many Pioneers express frustration over running nodes without receiving rewards. This raises concerns about whether regular Pioneers have a real chance to become SuperNodes or if the process is limited to a select group with insider knowledge or resources.
Justin Bons recently criticized Pi Network, highlighting flaws in its technology, tokenomics, and centralization. Despite initiatives like PiDaoSwap and the .pi domain launch, the Pi Network price has dropped below $1. SuperNodes are a crucial component of the Pi Network, yet their current implementation contradicts the project’s decentralization promise. To build trust and fairness, PCT must disclose SuperNode selection criteria, publish a list of approved nodes, and establish clear participant reward mechanisms.