2025 is a turning point for Pi Network — officially transitioning from the long-term closed testing phase into the open network era. This news has sparked quite a bit of discussion within the community, but it seems that few truly understand its implications.

In simple terms, Pi can finally operate on a public network. What does this mean? To put it in student terms, it's like finally receiving your diploma after years of holding it back. Theoretically, Pi can now circulate freely, participate in various application scenarios, and even interact with other chains. Sounds pretty exciting, right?

But there's a key point to understand: an open network does not mean a get-rich-quick scheme. This is just the most difficult step for the project to move toward real commercial use. The real test still lies ahead.

From a practical perspective, several issues need to be addressed. First is the regulatory environment. Countries' attitudes toward cryptocurrencies have been rollercoaster-like, with high policy uncertainty. Recently, the US SEC has been tinkering with new rules, reflecting that the entire industry is still under observation.

Second is the application ecosystem. Can you use Pi to buy things at convenience stores now? Basically not. To truly become a useful payment tool, it needs to establish partnerships with major payment systems, which can't be achieved in a month or two. Moreover, competitors have been deeply cultivating this area for years — various applications have already emerged within Solana's ecosystem, and Cardano is actively laying out plans. Pi needs more time and resources to catch up.

A fitting analogy: if we see this process as a college entrance exam — the previous closed testing was like practicing questions daily but not submitting the paper; now, you finally can submit, but the exam scores haven't been announced yet. The true success or failure depends on the final results, which are how many applications are actually implemented and how prosperous the ecosystem becomes.

One figure worth noting: currently, Pi has over 500 million holders. This scale is indeed astonishing and indicates that the project still has appeal. But in the crypto world, popularity and actual application value are often not positively correlated. A coin with 1 billion users but no real use case may have a completely different outlook than a coin with 1 million users and rich applications.

For holders, the most important question now is: in what scenarios can your Pi truly be used? The answer to this question will determine whether this upgrade is a milestone or just hype.

Overall, an open network is an important signal, but not the end goal. The next development trajectory will be the key to determining how far Pi Network can go.