Pi Network Unveils Subscription Smart Contract on Pi Testnet

Pi Network has made a significant step forward in the development of its blockchain-based platform with the release of PiRC2, its first subscription smart contract.

The contract, which is now live on the Pi Testnet, is part of the Request for Comment (RFC) series initiated by the Pi Core Team. The team is seeking feedback from developers to test and refine the recurring payment logic before scaling it to Mainnet.

PiRC2 is designed to allow users to approve a defined budget for subscription services, which can be time-bounded or capped to a specific amount. This approach aims to eliminate the need for prefunding or repeated sign-offs, providing a more seamless experience for both users and merchants.

The contract has been made available on GitHub, where developers can review and comment on its design and functionality. The team is also working with external auditing services to ensure that the contract meets the necessary security standards.