Core

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Stellar

Pi Network (<a href="https://x.com/PiCoreTeam" rel="noopener noreferrer nofollow">@PiCoreTeam</a>) is closing in on the full activation of Protocol 23 after the majority of its mainnet node operators completed what the team called one of the most technically demanding migrations in the project's history.
<h2 id="a-complex-multi-layer-migration">A Complex, Multi-Layer Migration</h2>
<cite>The upgrade bundles a protocol migration from version 22 to 23, an Ubuntu operating system upgrade from version 20 to 24, and a PostgreSQL database migration from version 12 to 16.</cite> Running all three changes simultaneously made this rollout significantly more involved than previous releases. <cite>Unlike normal software patches, Protocol 23 requires nodes to completely rewrite and reprocess existing blockchain data into newer database and ledger structures.</cite>
<cite>In a post shared on May 20, the Pi Core Team thanked node operators for completing the migration and described the upgrade as "one of the most challenging" in the project's history due to extensive subsystem changes and internal data reprocessing requirements.</cite><cite>According to the team, the network is expected to fully transition to Protocol 23 once the remaining nodes complete the upgrade process.</cite>
<cite>The PostgreSQL 16 upgrade is expected to significantly improve write speeds, replication efficiency, and query performance, while Ubuntu 24 adds newer security patches and stronger resource management for node systems.</cite> The Pi Core Team's official node Docker release notes, published on GitHub, confirm that <cite>upgrading from v1.0-p22.1 or earlier covers the PostgreSQL 12 to 16 upgrade, the Ubuntu 24.04 base, and the stellar-core/horizon v23 components.</cite>
<h2 id="what-protocol-23-means-for-pi-network">What Protocol 23 Means for Pi Network</h2>
<cite>Protocol 23 marks the biggest technical step for Pi Network since its open mainnet launched in February 2025, and is built on Stellar Core 23, laying the groundwork for native smart contracts and decentralized applications on the chain.</cite><cite>The Pi Core Team said the upgrade was necessary to prepare the ecosystem for smart contract functionality, improved scalability, and broader Web3 readiness as the network expands its mainnet infrastructure.</cite>
<cite>The simultaneous upgrades to the protocol layer, operating system environment, and database architecture suggest the network is preparing for heavier transaction loads and expanded on-chain functionality in future releases.</cite> Looking further ahead, <cite>Protocol v24.1 is scheduled for May 25, 2026, focusing on performance and network optimization.</cite>
On the price front, <cite><a href="https://x.com/search?q=%24PI&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$PI</a> hovers around $0.1475, holding a bearish bias as the price sits below the 50-period EMA at roughly $0.1605 and the 200-period EMA near $0.1709.</cite><cite>Whether the upgrade triggers a sustained price move depends on broader sentiment and supply pressure, as the upgrade alone has rarely been enough to drive durable price action.</cite>
Sources: <a href="https://www.cryptotimes.io/2026/05/20/pi-network-advances-toward-protocol-23-as-most-mainnet-nodes-upgrade/" rel="noopener noreferrer nofollow">The Crypto Times: Pi Network Advances Toward Protocol 23 as Most Mainnet Nodes Upgrade</a> <a href="https://github.com/PiCoreTeam/pi-node-docker/releases" rel="noopener noreferrer nofollow">Pi Core Team: Official Node Docker Release Notes (GitHub)</a> <a href="https://www.fxstreet.com/cryptocurrencies/news/pi-network-price-forecast-pi-signals-rebound-chances-amid-new-mainnet-upgrade-202605200628" rel="noopener noreferrer nofollow">FXStreet: Pi Network Price Forecast amid New Mainnet Upgrade</a>

Pi Network is Edging Closer to Protocol v23 After Most Major Nodes have now been upgraded

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