Pi Network is a cryptocurrency project launched in 2019, developed by a group of researchers from Stanford University. The main goal of Pi Network is to build a cryptocurrency ecosystem that can be mined directly on the phone, without the need for specialized equipment like Bitcoin or other cryptocurrencies.
Pi Network has attracted the attention of many users thanks to the "Pi mining" mechanism that does not consume many resources and is easy to implement through the phone application. This helps users to participate in the mining process without difficulty.
The Pi Network ecosystem currently has a mobile application that allows users to mine Pi continuously for 24 hours. However, this mining is considered distributed, as the number of Pi is predetermined and the application does not implement algorithms or consensus protocols. The amount of Pi mined will be halved when the number of users increases tenfold. To increase the amount of Pi mined, users can refer more people through the affiliate marketing model.
Here are some features of Pi Network:
- Easy mining on phone: Users can earn Pi by logging into the app daily and clicking the “Mine” button without any complicated skills or equipment.
- Does not consume device resources: Unlike cryptocurrencies like Bitcoin or Ethereum, Pi mining does not reduce battery performance, CPU or phone hardware resources.
- Growing user community: According to information from Pi Network, the number of community members has reached tens of millions of people globally.
- Focus on security and decentralization: Pi Network uses the Stellar Consensus Protocol (SCP), which helps improve security and minimize the risk of fraud in the system.
