The Pi Network core team has officially closed its central node as part of a move towards decentralization. This action follows the network's announcement of a significant ecosystem update coinciding with the Consensus 2025 event in Toronto, which began today.

Pi Network's core team has taken the step to shut down its central node, signaling progress toward decentralization and the upcoming release of the network's source code. This move aligns with Pi Network's goal to shift from a centrally controlled project to a fully decentralized blockchain utilizing its IPoS consensus mechanism.

The decision to release the source code is seen as a step towards enhancing transparency and building trust within the community amidst ongoing concerns about the network's level of decentralization and governance structure.

The timing of these changes is strategic, being unveiled during the Consensus 2025 event. The community eagerly anticipates further announcements and updates from Pi Network, including the possibility of listing on Binance and advancements in the network's overall development and decentralization.

Pi Network's PI coin has experienced a nearly 5% increase in value in the last 24 hours, currently trading at $1.18.