Pi Network

An Overview

Pi network is a protected digital currency where one can use it in pi currency value. Pi is developed by a professional team of PhD graduates from the very known Stanford University. Pi networks offer an easy to use functionality where one can mine on smartphones. It is a perfect option for those who are not able to understand bitcoin or cryptocurrency, pi offers a digital coin to mine.  

Pi Network (PI) is the newest digital coin to grab the attention of the cryptocurrency community, even before it has fully launched. Some users view it as a way to get involved in a cryptocurrency from the ground up and profit in the future, in the same way that early Bitcoin adopters have racked up massive gains from mining and holding the coin. However, others have likened Pi to a multi-level marketing (MLM) scam that holds no value.

But what is Pi Network and how does it work? Have you heard of the Pi cryptocurrency and are you looking to find out more about it as a potential investment?

What is Pi Network?

Pi Network is a digital currency project that aims to keep crypto mining accessible as the centralization of the first generation of currencies like Bitcoin has put them out of reach of everyday users. The Pi Network, developed by a team of Stanford graduates, enables users to mine coins using its mobile phone app, validating transactions on a distributed record.

With branding based on the number π, Phase 1 of the project launched in 2019 on Pi Day, March 14, with its free Pi mining app. By June 2019, the network had more than 100,000 active users, and a year later when Phase 2 launched there were more than 3.5 million. The app started running ads in May 2020 to provide a source of financing for the project. The user base reached 14 million in March 2021, having crossed the 12 million mark in February.

Pi Coin is the cryptocurrency that runs on the Pi network, and as with other cryptos such as Bitcoin, PI was designed to undergo regular “halving” to protect its scarcity. Halving is when the number of coins that a miner receives for processing new transactions are reduced by half when a certain milestone is reached.

Pi’s mining rate halved from 1.6 π per hour when it reached 100,000 users, halved again to 0.4 π per hour when it reached 1 million and again to 0.2 π when it reached 10 million. It will continue to halve, reaching zero at 1 billion users.

Unlike nodes in networks such as Bitcoin or Ethereum that use proof-of-work protocols, Pi Nodes use an algorithm based on the Stellar Consensus Protocol (SCP). Pi Nodes validate transactions on a distributed ledger and reach a consensus on the order of new transactions that the ledger records.

Under the SCP, PI Nodes form security circles, or groups, of three to five trusted people known to each of the networks’ users. Security circles build a global trust network that prevents fraudulent transactions, as transactions can only be validated on the shared ledger if the trusted nodes approve them.

PI has never been an easy task as it is quite a complex process that requires special knowledge while using those digital currencies. Seeing the craze and the challenges faced by digital currency in using it makes the PI Network app developer make it more accessible and more user-friendly features. Even though the future of PI Cryptocurrency is not that clear, most research experts are very much relying on PI Network fate, as it has a great scope to grow.

Advantages 

1. Simplicity – One can use and be able to mine PI crypto money quite smoothly.
2. Fair Distribution – The size doesn’t depend on the capacity of the device.
3. Extra Earnings – Contribute towards development and get a reward.

PI Networking is in huge demand and has made huge progress in the mining process. The developers put forward a form of chain and mining at minimal cost with limited drain applications. Its technological advancement has made great evolution but still, it demands huge expenses and inputs that are harmful to ecology. Here are the complete steps to know the process of investing in PI Cryptocurrency.

Step 1: Download the PI Network 

Click on this link to download the mobile app!! Join the Beta 

Step 2: Sign up with your Phone Number or Facebook

Step 3: Set your  Password 

Step 4: Set up your Account with your Name and Country

Step 5: Enter Invitation Code

• Use the code if you have any or you can use mine if you want "arjunarya"

Step 6: Congratulations You Have Signed In 

You need to go on the application every day to activate PI Mining, you can activate your account and turn your notification on if everything is hard to find. 

Thank You!