Pi Network Activates Stellar Protocol v25
On 23 January 2026 the Pi Network’s mainnet activated the Stellar Protocol v25 upgrade after a governance vote involving 15.8 million KYC‑verified users. The upgrade introduces the X‑Ray privacy protocol with expanded zero‑knowledge capabilities and adds support for the BN254 elliptic‑curve and Poseidon hash functions, enabling more efficient zero‑knowledge proofs. Early implementation required developers and validators to upgrade to the new software, and the associated Pi App Studio release simplified in‑app payments; heavy traffic temporarily disrupted services. By focusing on privacy and native payment tools, Pi is signalling a shift from speculation to utility for its ecosystem.
IoT‑Friendly Blockchain Research
Researchers at Chiba University unveiled a “Dual Perigee” algorithm that enables Internet‑of‑Things (IoT) blockchains to choose the fastest network path and drop slower connections. In simulations, the new approach reduced block delays by 48.54 % compared with standard protocols and allowed devices to finalise transactions almost in real time. This breakthrough could enable smart‑city applications and other sensor‑heavy systems to use blockchain technology without compromising latency or security.
Tezos Upgrades and Network Suspensions
South Korean exchange Upbit announced it would suspend Tezos (XTZ) deposits and withdrawals at 09:00 UTC on 23 January to accommodate a network upgrade. Trading remained open, and the suspension lasted only a few hours. The upgrade highlights Tezos’s self‑amending governance, where bakers vote on upgrades that activate automatically when quorum is reached. The next major mainnet upgrade, the Tallinn protocol, is scheduled to activate on 24 January 2026 and requires node operators to upgrade to Octez v24.
Sui’s Mysticeti V2 Brings Sub‑Second Finality
Although launched earlier, Sui’s Mysticeti V2 consensus upgrade continued to make headlines as performance data circulated. Official statements note that Mysticeti V2 allows the network to process 200,000–300,000 transactions per second and achieve sub‑500‑millisecond finality. The protocol uses a parallel processing architecture with a DAG‑based consensus and enhances scalability without sacrificing security. These metrics demonstrate that parallel execution and efficient consensus can bring blockchain throughput closer to traditional financial networks.
Quantum Risk Advisory Board
Coinbase announced the formation of an independent advisory board of quantum‑computing and cryptography experts. The board’s mandate is to assess the long‑term security of blockchain protocols against quantum attacks and to publish recommendations for key management and cryptographic migration. With quantum advances accelerating, early planning is crucial to ensure that networks remain secure beyond the current horizon.
Market Context and Price Changes
While the broader market drifted lower, network builders kept shipping. On 23 January, Bitcoin traded around $89,150 (‑0.85 %), Ethereum around $2,932 (‑1.75 %), and Solana near $127.44 (‑2.03 %). Some mid‑cap tokens like Monero (+4 %), BNB (+1.3 %) and Sui (+1.2 %) bucked the downtrend. Figure 1 visualises the daily price changes for a selection of assets.
Figure 1 – Daily price changes for major tokens on 23 January 2026. Mid‑cap tokens such as Monero (XMR), BNB and Sui (SUI) rose modestly while large‑caps like Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) declined.
Conclusion
The Jan 23 spotlight was on privacy upgrades, IoT‑ready blockchains and ongoing governance innovations. Pi Network’s X‑Ray protocol brings zero‑knowledge proofs to millions of users, research into Dual Perigee algorithms pushes blockchains closer to real‑time IoT applications, and Tezos demonstrates its unique self‑amending model with a new upgrade window. Sui’s high‑throughput consensus showcases the promise of parallel execution, while Coinbase prepares for future risks by exploring quantum‑resistant cryptography. Despite modest price declines, the underlying infrastructure continues to evolve, setting the stage for next‑generation applications.
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