Pi Network Sets Half of 'Servers' in Vietnam

According to data from the blockchain tracking platform Piscan, there are 163 network nodes of the Pi Network blockchain platform located in Vietnam. Meanwhile, the project has 334 processing points globally. This means that domestic users hold nearly half, equivalent to 49% of Pi's validating nodes. The blockchain information identifies the distribution of nodes in Vietnam with 75 machines in the northern region, 34 points in the central region, and 54 units in the southern region. This number is several times higher than other densely populated Pi mining areas such as China, India, South Korea, or Europe. In addition to the follow button, the validator is an important component to determine whether a transaction is approved. Currently, Pi Network only has two such units globally. However, they are under the management of the project development team, with 100% control rate. Therefore, the decentralization of the blockchain platform is in question. The concentration of geographically monitored nodes raises concerns about fairness. Users in one country have significant control over the operation of the entire network.

Meanwhile, the legal constraints of regulatory authorities are also a significant issue for the aforementioned project. Vietnam does not recognize cryptocurrencies, including Pi, and prohibits their use as a means of payment. There have been numerous cases where individuals have been penalized for buying and selling using the aforementioned digital currency. The city police (CATP) in Hanoi warns citizens about investing in the Pi Network cryptocurrency. Authorities note that many websites are advertising for buying and selling, attracting many individuals to participate. However, this carries many risks, which is concerning. If node operation in Vietnam is interrupted due to regulations, this network could collapse due to losing nearly half of the management nodes. The operation mechanism of the Pi node remains a big question mark. Using the Stellar consensus mechanism, the team stated that users' phones are part of the "security circle". Currently, these nodes are labeled as "watcher", only for those who follow. The software running the node must operate on a computer rather than a phone. Operators receive more digital currency. When launching the network, Pi Network also introduced a type of Super Node, with only 2 units, belonging to the developers. These are validators, responsible for verification.