7 min to read.
What is Pi Coin
What does Pi coin actually do? Is Pi coin a good investment? What is Pi crypto used for? Does Pi crypto have a future?
Table of Content
- What is Pi Coin PI? How Does Pi Network Working
- What is the purpose of the Pi network?
- Halfing the Mining Rate
- How does Pi Coin work?
- Why should you purchase Pi Coin?
- Pi Coin Prediction & Future: Is Pi Coin Worth Investing in?
- Where to buy Pi Coin?
What is Pi Coin PI? How Does Pi Network Working
The Pi Coin is a new cryptocurrency on the crypto market. Stanford-trained developers have launched the Pi to make mining via apps fast and user-friendly.
Our study examined what is behind it and what are the reasons for a possible purchase of Pi Coin.
Additionally, we have examined whether Pi Coin is already available for trading, how the price forecasts look like, and whether Pi is a reputable cryptocurrency.
As a final step, we suggest meaningful alternatives to Pi Coin that are already readily tradable with online brokers and exchanges.
What is the purpose of the Pi network?
Pi Network's creators have set themselves the goal of making crypto mining easy and accessible from anywhere in the world. The Pi Coin is generated within the app by the community.
The creators' goal of creating a new cryptocurrency and making it accessible to all people in the world appears to be an exciting and promising project on the surface.
- In addition to a decentralized blockchain, Stellar Consensus Protocol (SCP) will be used to implement smart contracts and a P2P marketplace.
| Pi Coin | Facts |
| Pi Coin Developer | Dr. Nicolas Kokkalis (Stanford PhD) Dr. Chengdiao Fan (Stanford PhD) |
| Pi Coin Vision | simple crypto mining via app |
| Start Phase 1 | 14.03.2019 (Pi-Day) |
| Start Phase 2 | April 2020 |
| Start Phase 3 | still unknown |
| Pi Coin – active user base | > 14 million |
The value of Pi Coin is regularly halved, as with Bitcoin, to make it scarcer and thus increase its value. When Pi Coin reached 100,000 active users, its mining rate halved for the first time.. Next, the number of Pi Coin users was halved at 1 million and at 10 million. After 1 billion active users in the network, a new division will take place.
Halfing the Mining Rate
- 1.6 π/h
- 0.8 π/h: with 100,000 active users
- 0.4 π/h: with 1 million active users
- 0.2 π/h: with 10 million active users
How does Pi Coin work?
In some ways, the structure of the Pi network resembles the Ponzi scheme and pyramid system that are used in multi-level marketing. The company and developers, however, deny that it is such a dubious network. You can only log in to the Pi network by providing the invitation link and the name of the person who invited you. Changing the data is only possible once the Main Network has been restarted. Some have drawn comparisons between this process and a classical pyramid scheme.
Upon completing the registration process, we can begin mining the Pi Coin. Our app has to be reactivated every 24 hours, which is done very easily with a single click. During this period, we may use our mobile phones normally while mining occurs in the background.
We can increase our mining rate by sending and publishing invitation links and by building our mining team. A large team of miners also has the highest mining rate, as in multilevel marketing systems. When we refer to people who we believe are particularly trustworthy, we experience an additional increase.
Why should you purchase Pi Coin?
Here is an overview of what Pi has to offer as a new cryptocurrency:
- It is possible to mine Pi Coins via the app on the Pi network from anywhere in the world
- The project is based on the number π
- The mining rate is regularly halved to shorten the coin life
- At this time, Pi Coin is only available for testing purposes. Trading or exchange of Pi Coin is not yet possible
- there is still no date for the launch in the main network
- Pi network is based on personal networks
Pi Coin Prediction & Future: Is Pi Coin Worth Investing in?
The value of a Pi Coin has not yet been established. When phase 3 of Mainnetz begins, the value will be established. The date depends on the progress of the testing phase and the subsequent listing on the major crypto exchanges.
At this point, we cannot predict how the Pi Coin price will develop in the long term. The starting price is also difficult to estimate. In general, cryptocurrencies are very volatile and a risky investment. According to forecasts, the price of Pi Coin will be highly determined by the number of users and exchanges that accept the coin.
Where to buy Pi Coin?
Pi Coin is not currently available for purchase or trade. The users who have already mined Pi Coin are only permitted to sell their coins during the last phase prior to the launch of the main network or to exchange them for other coins.
FAQs
What is Pi?
Pi is a new cryptocurrency that is for everyday people and can be mined (or earned) using a mobile device. A cryptocurrency is a new form of digital money that is controlled, managed, and secured by a community rather than a government or bank. Currently, you can mine (or earn) Pi by helping to secure the currency and by growing Pi's trust network. Most cryptocurrencies (like Bitcoin) have been very difficult for everyday users to access and use. However, the Pi puts the power of cryptocurrency in the palm of your hand.
What is the Pi App? How can I earn more Pi coins?
By making simple contributions to the community of Pi, you can earn Pi coins. The more contributions you make, the more coins you earn.To begin earning Pi, check in every 24 hours and hit the lightning button to begin mining. After you have joined the community, you can increase your hourly rate by inviting trusted friends and family members. You may boost your earnings significantly after three days of mining by building your security circle, which contributes to the overall security of the network. It should be noted that earlier members of the network mine at a higher rate than those who follow them.
Disclaimer: Pi is NOT free money. Pi is NOT free money. It is a long-term project whose success depends on the collective contributions of its members. Keep in mind this is just an informative article it is not an investment advice. To learn details about Pi network visit pi network official website.
