Pi Network’s core team controls a massive 82.8 billion Pi Coins out of the total 100 billion supply, according to data from PiScan. This extreme concentration of tokens has raised serious concerns about decentralization, as it gives the team significant control over the network’s future. While many early-stage blockchain projects hold large allocations, Pi Network’s figures stand out as unusually high.
The team directly holds 62.8 billion Pi across six wallets, while another 20 billion Pi is spread across roughly 10,000 unlisted wallets linked to the team. This level of control raises doubts about whether the network can ever be truly decentralized.
Pi Network also operates with just 43 nodes and three validators worldwide. In comparison, Bitcoin has 21,000 nodes, Ethereum 6,600, and Solana 4,800. With so few validators, control remains concentrated in the hands of a select group, making it easier to influence or manipulate the network.
Adding to the concerns, PiScan—a blockchain analytics platform—reports that Pi Network’s source code and on-chain data remain difficult to analyze due to a lack of transparency. This has fueled skepticism about the project’s long-term future.
Pi Network’s latest privacy update has triggered fresh criticism. The project recently revealed that it uses ChatGPT to automate its Know Your Customer (KYC) process. AI-powered identity verification is becoming more common, but Pi Network had not disclosed this before, leaving users worried about how their personal data is being handled.
According to the updated policy, users must now agree to let ChatGPT and possibly other AI providers process their identity data in the future. This has added new concerns about data security and transparency.
Beyond centralization and privacy concerns, Pi Network users have also faced delays in mainnet migration and extended lockup periods. Many frustrated holders have resorted to selling their accounts due to restricted access to their tokens.
Some users have gone as far as calling Pi Network a “pure scam,” claiming it lacks real decentralization. One crypto user even alleged that transactions displayed on the public blockchain were later removed—something unheard of in legitimate decentralized networks.
Another user labeled Pi Network the “biggest failure” and an “overhyped project with no real value.”
The controversies have impacted Pi Network’s popularity. Google Trends data shows that search interest in “Pi Network” has plunged from a peak score of 100 on its mainnet launch day, February 20, to just 12 today. This sharp drop suggests declining enthusiasm as users grow more skeptical about the project’s future.
With mounting concerns over centralization, transparency, and user dissatisfaction, Pi Network faces a major challenge ahead. Whether it can address these issues and rebuild trust remains uncertain.
No, Pi Network’s core team controls 82.8 billion Pi Coins and operates with only 43 nodes, raising major centralization concerns.
Yes, Google Trends shows a sharp decline in search interest from 100 to 12 since its mainnet launch, indicating fading enthusiasm.
Pi Network received 88% community support in Binance’s new voting model. If Binance follows its listing process, Pi Network could be listed soon.
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