Pi Network remains a hot topic in crypto corridors, with project pioneers now highlighting its transaction speed relative to what the Bitcoin network offers.
The comparison comes ahead of Pi Network’s Open launch on Thursday, February 20.
Pioneers Highlight Pi Network’s Speed
One of the Pi Network pioneers, Dr Picoin on X, indicated that it boasts a block time approximately 120 times faster than Bitcoin. Further, they said that the project’s transition to the Open Network would significantly increase the number of transactions per block.
“Currently, Pi Network takes around 5 seconds per block (as shown by the timestamps in the image), while Bitcoin takes approximately 10 minutes per block. Based on block time, Pi Network is roughly 120 times faster than Bitcoin,” wrote Dr Picoin.
Another Pi Network proponent, Jatin Gupta, echoed Dr Picoin’s statements. Gupta highlighted how the project is seeing up to 540,000 downloads daily, which signals surging interest.
Bitcoin’s slow block time has long been a bottleneck for transaction processing, inspiring innovations such as the lightning network. Pi Network’s five-second block speed suggests a much more efficient system, with the potential for increased transactions per block post-transition on Thursday.
Additionally, Gupta indicated that Pi Network has surged to the fourth rank in the social category on the Google Play Store. According to Gupta, this places it in the same league as major tech giants like Facebook and Instagram.
While Gupta’s post highlighted the euphoria around Pi Network, it was also tempered with caution. The same post warned miners to brace for an impending speed drop in March 2025 due to network adjustments.
“Miners, Brace for Impact! A major mining speed drop is coming in March 2025! Mine while you can & stay ahead,” Gupta urged.
Despite the hype around Pi Network, the project remains controversial, with debates, listing controversies, and legal scrutiny ahead of its much-anticipated mainnet launch.
Speed Claims Spark Debate: Faster Than Bitcoin, But Not the Fastest
Meanwhile, not everyone is convinced by the Pi Network pioneers’ claims. Critics have pointed out that while Pi Network’s 5-second block time is impressive, it still falls short of other blockchain networks that boast even faster speeds. A user highlighted Solana, Avalanche, Algorand, and EOS as notable competitors beyond Bitcoin.
“Solana – Known for its high throughput, can process transactions with a block time of around 400 milliseconds (0.4 seconds). Avalanche aims for sub-second finality with its consensus protocol, which can finalize transactions in less than a second under optimal conditions, making it much faster than Pi Network. Algorand’s pure proof-of-stake (PPoS) protocol allows for near-instant transaction finality, with block times around 3.3 seconds, slightly faster than Pi Network. EOS has a block production time of about 0.5 seconds,” the user challenged.
These comparisons suggest that Pi Network is significantly faster than Bitcoin but not necessarily the quickest blockchain.
Notwithstanding, the pioneers’ remarks mirror recent reports indicating that search interest in Pi Network has hit an all-time high, reflecting its rising popularity.
Elsewhere, listing challenges for Pi Coin remains a major hurdle. Analysts have said OKX could face challenges with Pi Network’s listing, citing concerns over the project’s status and regulatory clarity. Meanwhile, Binance is conducting a community vote to decide whether Pi Network should be listed on its platform.
Adding another layer of complexity, Pi Network has faced legal warnings that raise questions about its regulatory compliance.
Despite this, pioneers remain bullish, with many working to dispel fear, uncertainty, and doubt (FUD) ahead of the project’s open network launch. Analysts have also weighed in, with some defending the project against scam allegations and highlighting its potential for mainstream adoption.
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