Pi Network - make money by Pi cryptocurrency

Pi Network

Pi cryptocurrency

Pi Network

Pi Cryptocurrency - Should We Trust It?

We tell you some details about the Pi cryptocurrency, a project in charge of a team of specialists graduated from Stanford University, which seeks to bring the mining process to the user's mobile phone.

Nowadays world going to increasingly digital, crypto currency is the next natural step in the evolution of money. Pi is the first digital currency for ordinary people and represents a major step forward in the adoption of cryptocurrencies around the world.

Pi Network (PI) is one of the first cryptocurrencies that users can mine on their mobile devices. Launched in 2019 by three Stanford graduates, the PI cryptocurrency quickly gained popularity among users. What is the Pi Network (PI) cryptocurrency? How to mine PI?

Pi Network (PI) fundamental principles

The Pi Network beta was released on 03/14/19 by three Stanford PhDs and graduates:

Dr. Nicolas Kokkalis, Head of Technologies.

Dr. Chengdiao Fan, Head of Product.

Vincent McPhillip, Head of Community.

Pi Network allows users to earn PI cryptocurrencies from any mobile device. This is the result of the evolution of cryptocurrency in general. Bitcoin is starting to go out of style as it requires a lot of electricity, while PI coins are completely eco-friendly. Pi Network uses the Proof of Work algorithm without the high electricity costs.

There are three steps to Pi Network development:

Pi Network

Phase 1. Design and distribution of tokens

The Pi server acts as a crane that emulates the behavior of a decentralized system, as it will work after its operation. In this phase, user experience improvements and possible behavior and relatively easy to realize compared to the stable phase of the main network. All the minting of coins for users will be transferred to the live network after its launch.

In other words, the live network will be pre-assembled at its genesis to lock in all account holder balances created during phase 1, and will continue to function in the same way as the fully decentralized system. Currently Pi is not listed or displayed in any exchanges (during this stage) and it is impossible to buy Pi with any real money, fiat or cryptocurrency.

Phase 2. Pi cryptocurrency - Network test

Before starting the main network, the host software will be deployed on the test network. The test network uses exactly the same trusted program as the main network. The Pi core team will host multiple nodes on the testnet, but will encourage more pioneers to launch their own nodes on the testnet. In fact, for any node to join the main network, it is recommended that they start with the test network. The testnet will run in parallel with the Pi emulator in the first stage and periodically. For example, the results of both systems will be compared daily to detect the gaps and failures of the test network. It will allow Pi developers to propose and implement fixes. After a full parallel launch of both systems, Testnet will reach a state where its results will be consistent with the emulator.

Phase 3. Pi cryptocurrency -  Main network

When Pi users and community feels that software is ready for production and has been thoroughly tested on the testnet, the official Pi Network mainnet will be launched. An important detail is that during the transition to the main, only accounts confirmed as belonging to real people will not be restricted.

After that, the crane and Pi phase 1 network emulator will be shut down and the system will continue to work independently forever. Future protocol updates will be presented by the Pi community and the Pi core team and will be proposed by the committee. Its implementation and deployment will depend on the nodes updating the mining software, like other blockchains.

No any authority will control the pi currency, and it will be decentralized. Fake users or duplicate users will be discarded. This is the phase during which Pi can connect to exchanges.

How to mine PI cryptocurrencies?

To connect to the network, it is enough to have a mobile device based on iOS or Android. Then follow these simple instructions:

Go to the App Store or Google Play, depending on the type of your operating system.

Click Here Download the pi application on your smartphone and open it.

Specify the registration method: Facebook or phone number. We recommend the second option as it is much safer.

use nazeeronline (as invitation code)

Fill in the country of residence and the phone number.

Write the first name, last name and nickname.

After registration, each user receives 1 Pi per account. The system provides the following ranges:

Pi app

Pioneer is the entry level range for all users. The production size is 0.39 Pi / h. You can increase in the referral program.

Taxpayer. To receive this rank, mine the cryptocurrency for three days.

Ambassador. A range for users who invite other members to connect to the Pi network.

Node. Members who have connected additional computers to the network. This tier is still in development and will be available later.

When you open the app, you need to press the "mine" button. You don't need to keep the app open, just activate the button once every 24 hours and you will get the coins.

Where to store PI cryptocurrency?

The wallet is the application where you mine your coins. During phase 3 of the project, you will also have the option to take full possession of your private / public keys.

Where to trade PI cryptocurrency?

According to Coingecko, the PI cryptocurrency can be traded on some exchanges.

Summary

Pi Network is an mobile mining experiment. If the team continues to develop the project, the application will become a real phenomenon in the crypto sphere. Stay tuned!

Pi app

In the cryptocurrency environment you can find some quite interesting projects. The Pi Network virtual currency is one of them.

The Pi app or Pi cryptocurrency has been around for a relatively short time. Therefore, many users still do not have much knowledge regarding this new digital currency.

Here we tell you some of the main qualities of the Pi Network cryptocurrency, as well as how reliable it is.

But let's go by parts and start by getting to know her a little better.

What is the Pi Network cryptocurrency?

The Pi Network cryptocurrency is a project spearheaded by a notorious group of Stanford University graduates that today exceeds 3.5 million users.

This is extremely striking, since its characteristics have managed to captivate so many people in a relatively short time.

Pi Network was conceived as a crypto asset that was easy to access for everyone, based mainly on a peer to peer market system (person to person), without the participation of intermediaries.

In other words, a decentralized system in which any user can get cryptocurrencies equally by mining from their mobile device.

It is a young virtual currency with a very clear focus: favoring a fair obtaining by its users, without the need for intermediaries and prioritizing privacy.

It is important to note that right now, the Pi cryptocurrency is still in a Beta stage. According to your development team, this is the second of three stages.

However, there are many pioneering users who, in exchange for their services, receive coins for free.

What is the value of the virtual currency Pi?

As it is a cryptoactive in the testing stage, at the moment it has a null market value, as can be seen on its CoinMarketCap page.

The cryptocurrency Pi is obtainable, but it cannot be sold, traded or bought.

When the platform is accessed, only the total number of mined coins can be appreciated.

It is expected that the software that allows trading with the cryptocurrency will be launched in the course of 2021.

In this way, the initial nodules would be established that would provide the possibility of carrying out tests among some selected users.

For the rest of the individuals, the program will remain in its beta stage until its official launch.

What is known is that the format used to obtain crypto assets has a very intuitive operation, making it very easy to use for any user, regardless of the level of experience in using these programs.

How does Pi Network work?

Pi Network has a free mobile app as the basis of the project, which can be downloaded from, Google Play Store and App Store.

Its operation is simple. You enter the platform and only when you access the main screen will you have all the content at your disposal.

In the upper section you can see the amount of Pi (p) that you have at your disposal.

Additionally, you will find the following icons:

Chat, in which you can talk about the Pi cryptocurrency with other users

Shield, which symbolizes the number of users that are within your circle (the minimum being one person and the maximum five)

User icon, which shows the number of people invited by the user and those who are mining.

There is also the symbol of a small lightning bolt, which symbolizes the mining process, which you must press every 24 hours to continue with the mining process.

Is the Pi cryptocurrency reliable?

You need to start mining from your mobile every 24 hours, while you mining process continue wihtout consuming battery even if you close the Pi app.

Also, having to check it only once every 24 hours to keep mining is very convenient.

So is the Pi app reliable?

As mentioned above, the Pi app project has not yet reached its final stage, which is why it is difficult to reach an accurate conclusion regarding its reliability.

However, it shows all the signs of being a reliable project.