Coin distribution integrated with Stellar Core v23! Ghost chain transforms with skyrocketing performance and enhanced security

Pi Network launches Protocol v23 upgrade, integrating Stellar Core v23.0.1, benefiting over 15.8 million pioneer users. The core upgrade includes support for Rust smart contracts, optimized consensus processing, and improved dApp development infrastructure, bringing substantial technical breakthroughs to the “Ghost Chain.” The testnet remains stable under high load by the end of 2025, laying the foundation for mainnet upgrade.

Three Major Technological Enablers of Stellar Core v23.0.1

The integration of Stellar Core v23.0.1 is a core part of the Pi v23 upgrade, which will help improve transaction speed, enhance network security, and expand network capacity. This upgrade makes Pi Network a more efficient settlement layer capable of supporting large-value payments and decentralized applications. This technological upgrade is crucial for Pi Network to shed the “Ghost Chain” label.

The v23 version update alleviates previous concerns about network congestion and system stability. Pi Network enhances its trusted financial layer capabilities through improved consensus processing and transaction confirmation mechanisms, maintaining decentralization among its global user base. Previously, Pi Network was often criticized for network instability and transaction delays; the new version significantly reduces block confirmation times through optimized validator communication protocols and transaction packing logic.

The introduction of Rust smart contracts is another major breakthrough. Pi Network plans to migrate to Stellar’s v23 version and Rust smart contracts, enabling developers to build complex decentralized applications on Pi Network. Rust is renowned for its memory safety and high performance, widely adopted by mainstream blockchains like Ethereum 2.0 and Solana. This technical choice indicates Pi Network’s move toward enterprise-grade blockchain infrastructure.

Three Core Improvements of the v23 Upgrade

Transaction Throughput Enhancement: By optimizing consensus mechanisms and block structure, the theoretical TPS (transactions per second) of v23 has increased by approximately 50% compared to previous versions. This allows Pi Network to support larger-scale user transactions simultaneously, reducing network congestion risks.

Building a Smart Contract Platform: Rust smart contract support enables developers to create DeFi protocols, NFT marketplaces, and social applications. This is a key step for Pi Network’s transformation from a “payment tool” to an “application platform.”

Multi-layer Security Reinforcement: The integration of Stellar Core v23.0.1 brings upgraded cryptographic algorithms, strengthening the network’s defense against attacks. Additionally, improved node validation mechanisms reduce the risks of double-spending and 51% attacks.

This upgrade benefits active miners, traders, and Pi application users. The improved tools also allow users to participate in governance, use applications, and contribute to the ecosystem without relying on centralized intermediaries.

From Testnet to Mainnet Stability Verification

Community feedback and developer reports indicate that the v23 testnet deployed by the end of 2025 remains stable under increased transaction request loads. This stability verification is a necessary step before mainnet upgrade, ensuring that the new version does not introduce major vulnerabilities in the production environment. The v23 upgrade directly addresses these concerns, significantly enhancing scalability and application support, further supporting phased development strategies.

During the testnet phase, the development team simulated various extreme scenarios, including sudden large-scale transaction surges, node failures, and malicious attacks. The v23 version performed stably under these stress tests, with block generation times remaining consistent and no significant performance degradation. This stability provides confidence for the mainnet upgrade.

Pi developers are also working on decentralized exchange and automated market maker tools. These infrastructures are core components of the DeFi ecosystem and will provide real trading scenarios and liquidity support for Pi Network once launched. Over the past few months, developers have begun promoting ecosystem development through hackathons, investments in CiDi Games and OpenMind, among others.

Can Community-Driven Models Break the Ghost Chain Curse?

The v23 protocol upgrade provides developers with more comprehensive infrastructure to expand applications and deliver a smoother user experience. Practical usability drives user adoption, which helps Pi achieve its larger goal of fostering community-created products through natural development rather than hype-driven development. Builders lead the trend; this gradual process aligns with Pi Network’s sustainable development philosophy rather than rapid speculative growth.

However, Pi still faces severe challenges. Despite significant technical upgrades, building market confidence in Pi Network takes time. Since its launch in 2019, Pi has promised to establish a complete ecosystem but has been slow to deliver, creating a “boy who cried wolf” effect that severely undermines market trust. Even if the v23 upgrade launches truly valuable applications, it may take a long time for the market to rebuild confidence.

User adoption is also steadily progressing. The v23 protocol upgrade is an important milestone in Pi’s development, providing a strong technical foundation and empowering millions of mainnet pioneers. But whether it can truly break the ghost chain curse depends on whether several killer applications with over 10,000 daily active users can be launched within the next 6 to 12 months. Without practical applications and real-world deployment, Pi’s price will continue to hover at low levels.