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Pi cryptocurrency
About Pi
Pi is a social cryptocurrency and developer platform that intends to provide users with more control. It enables mobile users to mine Pi coins without draining battery or causing environmental harm. Pi Network also aims to be an accessible and ubiquitous apps platform where developers can provide users with real-life utilities and products in exchange for Pi coins. With its 35+ million engaged user base and unique mining mechanism, Pi Network strives to facilitate a Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
The Pi Network
Pi Network employs a unique adaptation of the Stellar Consensus Protocol (SCP) to validate transactions. This protocol provides decentralized control, low latency, flexible trust, and asymptotic security at a fraction of the environmental cost. Pi's blockchain secures transactions via a mobile meritocracy system. This system allows mobile users to validate their daily presence and vouch for others’ authenticity in the network to receive Pi. The environmental impact is vastly lowered since this method does not require energy-intensive hardware to mine.
The potential use cases for Pi
Pi Network intends to develop an ecosystem where Pi coins can be used as a medium of exchange. The network's design is based on a model that aims to be intuitive and transparent, facilitating fair distribution, scarcity, and meritocracy. Pi Network's developer platform provides features that could be of interest to developers. It has pre-built infrastructures such as a crypto wallet, user authentication, notifications, deep linking, app interoperability, and many other functionalities in the pipeline. Community developers can incorporate Pi’s SDK and user-authentication measures into their apps, enabling users to seamlessly integrate into the Pi ecosystem.
The history of Pi
Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, two Stanford PhD’s in computational engineering and social sciences. Both founders have a strong belief in the technical, financial, and social potential of cryptocurrencies and aim to resolve traditional blockchains’ shortcomings. They employ a user-centric design philosophy that turns the development process of new blockchains upside down. Pi Network is currently in the Enclosed Network period of Mainnet and is not available for trading. The network is not conducting any ICOs or any type of crowdfunding, and any distribution of Pi is unauthorized and has no affiliation with Pi Network.
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