While not yet a full launch, the upgrade reassures its community that development is still on track after months of criticism about delays.

Performance First, Price Second

The technical milestone came with encouraging results: blocks processed under the new protocol handled up to 1,000 transactions each without error, according to explorer data. That demonstration of stability is seen as a green light for developers preparing applications that may one day run on Pi’s main network.

Markets reacted in kind. Pi Coin edged higher to $0.3595, with trading volume and market capitalization both jumping more than 40% in 24 hours. For a project often accused of slow delivery, even testnet updates appear to move sentiment.

Why This Upgrade Matters

Protocol v23 is built on Stellar’s latest core framework, giving Pi access to more scalable architecture and improved developer tooling. By adopting the standard first in a test environment, the network can iron out issues before porting the changes to mainnet.

Critics have long said that Pi Network risks losing credibility without visible progress. The team, however, points to phased rollouts like this one as evidence that its blockchain is evolving carefully rather than recklessly.

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Ecosystem and Adoption

Roughly 8.14 million Pi Coins are circulating from a theoretical supply of 100 billion, underscoring how early the project still is. Even so, adoption efforts continue — including a recent Onramp listing designed to boost accessibility.

For Pi supporters, the combination of technical progress and gradual integrations shows the ecosystem is being built piece by piece.

If testing continues to deliver consistent results, Protocol v23 could move onto the mainnet, bringing higher throughput and more robust support for developers. Community members see the update not as a finish line, but as a reminder that Pi Network is still marching toward its long-promised full launch.

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