Pi Network’s original token has been on an amazing run lately, bucking the overall market trend by registering consecutive double-digit gains that took it to a new quarterly high of over $0.23 today.
The possible reasons for these achievements are related to the updated protocols and the latest Pi Node research published by the team earlier this week.
Case study
The team’s statement shows that they are exploring how a global network of distributed nodes can support decentralized AI learning and computing tasks, which could open up a new layer of services beyond the Pi Network’s blockchain provisioning.
They argued that the network itself is relatively cost-effective and does not require the full computing power of its global node community. Therefore, much of this unused computing power remains on thousands of machines running Pi Nodes.
The team believes this untapped potential could be exploited by third parties that require large-scale computing resources, especially for AI model training and inference workloads. Pi Node operators who choose to participate in such a system can lend their computing resources and receive cryptocurrency-based compensation for performing computational tasks.
With more than 421,000 Pi nodes worldwide, representing more than one million CPUs, the network already functions as a large distributed computing environment, the statement continued. Its ecosystem includes tens of millions of KYC verified users who can provide human input for AI learning tasks in the loop.
“This, in addition to the computing power of Pi nodes, can provide an unparalleled resource for scalable and real-time human input in AI systems, further providing a unified service to AI customers.”
The team said they have already run a pilot with 7 volunteer Pi Node operators. The results were very promising as the tasks were “passed correctly to external testers (optional Pi node operators) and the correct results were sent to OpenMind.” They added that the use case has been proven: Pi Nodes can step in to perform defined and requested third-party computations that are not tied to blockchain commitments and return meaningful results to the third-party client.
In addition to the promising news for the massive Pi Node community, another possible reason for the massive launch of the original tokens could be related to the successful implementation of the v19.9 protocol update and the next approach v20.2, which should be completed by March 12.
PI remains the best performer against the larger cap, rising 16% to $0.23 daily. This is the highest price in almost three months. According to CoinGecko, the asset is now the 40th largest, with a market capitalization of more than $2.2 billion.
Even the large number of tokens released today (almost 21 million) could not eliminate it. However, the upcoming chart shows that similar days are ahead, which could lead to a correction in the future.
Pi Token unlock schedule. Source: PiScanThe post Pi Network (PI) price rose another 16% as the group unveils its distributed AI computing plans – appeared first on CryptoPotato.
