Anatomy of a Pi Network Transaction: What is actually stored on the Blockchain ?

An analysis of the JSON structure of the transaction with technical comments can be found at the end..

For advanced users!

Article content

• Audio and video overview [Czech]
• Audio and video overview [English]
• Basic transaction framework
  • Transaction participants
  • Parameter – – Explanation
• Financial metadata
  • Memo system (critical for CEX)
  • XDR data: The core of the transaction
  • Why is this structure important?
  • What can cause problems?
• Analysis of the JSON structure of the transaction with technical comments
  • At the end of the transaction, a signature is signed.
• MBP memo as wallet, transaction and account identifier
  • 1. What is a memo in Pi Network?
  • 2. Memo format: MBP-PvObhyNCq4hh2tCny67UAR14
• With further migration it can be proven whether it is
• And what about private participants?
• Anonymization
• KYC and KYB
• Related articles …
• PiNetwork

Estimated reading time: 4 minutes

Audio and video overview [Czech]

Audio and video overview [English]

Basic transaction framework

{
  "transaction_id": "a09d07ae...90d1c",
  "successful": true,
  "timestamp": "2025-03-29T16:05:18Z"
}

Transaction participants

{
  "source_account": "GALYYYXXXX...CRLV",
  "destination_account": "MDCVILYX...42W*[subaccount_id]"
}

Parameter – – Explanation

• source_account Standard Stellar sender address (G…)

a

• destination_account Muxed address – combination:
• mother's address (G…)
• Sub-account identifier – sub-id (*…) → usually a memo
• Memo (e.g. for CEX identification)

Financial metadata

{
  "amount": "199.99 π",
  "fee": "0.01 π",
  "asset": "native"
}

• amount: Amount in π (1 π = 10^7 stroops)

→ Raw value – 1999900000 stroops (visible in XDR)

• fee Fixed network fee (100000 stroops = 0.01 π)
• asset native = native Pi token

Memo system (critical for CEX)

{
  "memo": "48993411421743264311762",
  "memo_type": "text"
}

• Function – Identifier for assigning a transaction to a user on the exchange (text, number, code)
• memo_bytes – backup memo in the given type //base64

XDR data: The core of the transaction

envelope_xdr
Contains raw transaction data:

• Full addresses of participants
• Exact amount in stroops
• Memo and time limits

result_meta_xdr
Records:

• Changes to account balances
• List of operations and their effects
• Status after transaction

Why is this structure important?

• Immutability Once written to a block, the data is immutable.
• Transparency Anyone can verify transaction details
• Efficiency Muxed addresses save space on the blockchain

What can cause problems?

• Missing memo for CEX deposits → lost funds
• Difference between max_fee a fee_charged → transaction may fail
• Invalid time interval in valid_after/before

– read better on a PC –

Analysis of the JSON structure of the transaction with technical comments

{
  transaction_id: "a09d07ae786859920f78697024bd81608f431d5dff03cbef362cb669c0908d1c",
  successful: true,
  timestamp: "2025-03-29T16:05:18Z",  // krome časové značky se odesílá minimální čas a max na zpracování
  source_account: "GALYYYXXXXSPS2O74224KLLKSLKSNXCPLLWNMEFYOT2BVSEXGSQCRLV",
  destination_account: "MDCVILYX4RATPIO6YTBXNIBEUZXI3EBI36NJXKGO4DVJINYJ5X42W*[subaccount_id]", // Muxed adresa  - [subaccount_id - memo]
}

{
  memo: "48773411451743264311762", // Gate.io user deposit ID
  memo_type: "text",  // typ pro čtení a záloha v bytes - int64 to base64
}

{
envelope_xdr:  "AXY........Cdv==" ,  // obsahuje detaily o transakci  (odesilatel, prijemce, množství a memo)
    /* lab.stellar.org/xdr/view */
      fee: "0.01 π" // převedený fee_charged (100000 stroops = 0.01 π)
     amount: "199.99 π", // (raw: 1999900000) lidsky čitelný formát množství z envelope
    asset: "native",    // druh tokenu - v tomto pripadně Pi token
}

{
result_meta_xdr: "AXY........Cdv=="   // obsahuje post transakční zůstatky a vlivové efekty
}

At the end of the transaction there is a signature signature

• How is it generated?

The signature is created by encrypting the transaction hash using private key sender.

from stellar_sdk import TransactionEnvelope, Network

envelope_xdr = "AA...gJ"
pubkey = "GC4FIWN4SWXQIZK6NV6CIC7PQJ2PAV4H7MI5ALRDX5CO2YD7FCKWBW3Y"
signature = "WDW3o8dSP35ZCevIULhnLtk6fgy+tyBgPq9GgPuhjFttgINpBnGGTFfKDAdRNpxB5AjstP4maYZKfIv9W24tAg=="

envelope = TransactionEnvelope.from_xdr(envelope_xdr, Network.PUBLIC)
envelope.verify_signature(pubkey, signature)  # Vrátí True/False

• Text memo + signature together ensure:

Authenticity The transaction was sent by the real owner.
Integrity No one adjusted it along the way.

MBP memo as wallet, transaction and account identifier

1. What is a memo in Pi Network?

• Memorandum is an additional note to a transaction on the blockchain.
• It is used to:
  • Pairing a wallet with a user account.
  • Ownership verification (KYC, migration from testnet).
  • Internal tracking of the development team.
  • a unique random token for linking to the profile.

2. Memo format: MBP-PvObhyNCq4hh2tCny67UAR14

• in operations creating an account without a source address, distributed by the GBT7 address
• MBP- – Probably an abbreviation for "Mainnet Beta Participant"
• PvObhyNCq4hh3tCny67UAR14 – Unique random hash or code for pairing
• memo_bytes (TUJQLVB2T3JoeU5DcTRoaDJ0Q255NjdVQVIxNA==) – Base64 version of text memo

With further migration it can be proven whether it is

• Unique user/wallet ID

to users during migration from testnet or KYC

• Security nonces

One-time code for transaction verification

• Internal references

for connection to a specific migration phase in the Pi Core Team's internal database, not on the blockchain

And what about private participants?

Using a transaction, you can identify the amount held even for muxed accounts, which means it is only relatively private to exchange users, but they offer sub-accounts of the main accounts, thereby achieving another layer of privacy, provided that you only perform off-chain transactions within the exchange account and sub-accounts in combination with deposits.

Anonymization

For greater anonymization or concealment of funds, it is necessary to route BTC through well-known services such as Rainbow and Tornado within CEX accounts, so you can hide a relatively large amount if you are not exposed.

KYC and KYB

Owning Pi off-net and accounts with KYC on exchanges is more complicated, however, it is necessary to apply many techniques of general anonymous access to the internet, web3 wallets and No-KYC exchanges.

Related articles …

• Pi Network News: Onramp Money Addresses Wallet Failures, Mentions Ongoing Integration
• Privacy Policy
• Why did the price of PI drop? [07/2025]
• Will the Pi Network's KYB process for distributing Pi tokens limit speculative trading?
• Pi Network: Price Drop as a Signal of Change or the Beginning of the End? Analysis of Market Signals and Future Prospects

You might also like:

• Free shares worth up to €100 on Trading 212
• Pi Network and “$314,159 Value”: The Biggest Hoax in the Project’s History
• Where to watch, listen and read PiBazar.eu externally
• Pi Network: Own Exchange as a Key Strategy for the Future of the Ecosystem
• iPhone 14 Pro case
• Camou perfumed water for women
• Pi Network Proves to be a Non-Conformist Coin: A New Era of Cryptocurrency Begins
• Pi Network Price Drop: What Caused the 1,6% Drop