What is Pi Network?
Pi Network is a cryptocurrency and digital platform that aims to make cryptocurrency mining accessible to everyone, especially through mobile devices. Launched in 2019 by a group of Stanford University PhDs including Nicolas Kokkalis and Chengdiao Fan, Pi Network allows users to “mine” Pi coin directly from their smartphones, without the need for expensive hardware or high power consumption, as is the case with Bitcoin.
Main features: App-based mining: Users mine Pi by opening the mobile app (available for iOS and Android) and clicking a button every 24 hours. Mining does not rely on computing power, but rather on a system based on contributions to the network, such as in-app activity and inviting new members.
Development phase: Pi Network is currently in the testnet phase, and Pi coin does not yet have a market value, as it is not listed on public exchanges. The network plans to launch its Mainnet, when coins will be transferable and potentially tradable.
Distribution model: Pi Network uses a referral system, where users earn more Pi by inviting others to the network, forming “security circles” that validate transactions. Goal: To make cryptocurrency accessible to ordinary people, promoting financial inclusion, especially in regions with less access to banking services.
- Grok
