What is Pi Network, and the future of the Pi Coin?
Pi Network is a new digital currency project its main purpose is to keep cryptocurrency mining approachable, just like the first generation digital currencies like Bitcoin, which put them far away of many daily users.
The Pi Network, developed by a group of Stanford University graduates students, enable users to get the new digital Pi cryptocurrency coins using their computer, laptop, and mobile phone by just downloading the Pi Network app.
The Pi coins app acts as a cryptocurrency wallet, which are linked to the user's mobile phone number or Facebook account. We can also link with another public blockchains, this Pi Network blockchain will permit external wallets to keep Pi digital coins and submit transactions directly to the public blockchain.
Phase one of the Pi Network project launched in 2019 on Pi day, with a free Pi mining app. Till June 2019, the Pi Network had more than one lac active users. After one year, when Pi Network phase two launched, there were almost more than 3.5 million users. The Pi app initiated running ads in May 2020 to give source/ origin of financing for this digital project. Recently, on 15 March 2022 Pi Network announced that the people who use this network had raised to 33 million user, more than double from 14 million in the last year in March 2021.
Like other digital currencies such as Bitcoin, Pi was also designed to experience regular "halving" to protect its scarcity. Halving, is when the number of coins a user get for processing new transactions is lesson by half. It usually occurs when a specific limit perceived/ achieved.
Pi mining depends on their users, when it reached 100,000 users, the Pi rate halved from 1.6π to 0.8π per hour. When it reached to one million user, again halved to 0.4π an hour. It will continue to halve, when Pi reaches one billion user, reaching zero.
Future of the Pi Digital Coins
In this modern world of technology, it has a bright future. Nowadays, discussion continues over the Pi Network that it is well initiative fraud. If Pi Network is a fraud, then it is not a traditional one in the manner of a Ponzi Scheme, because Pi users are investing their money. The pioneers are only investing their time on their desktop or mobile phones.
However, early pioneers are collecting the Pi cryptocurrency in expectation that the price will boost sharply when the network goes live. So, the Coins mining rate has been reduced by halving, pioneers can I increase their coins mining rate by connecting with another active Pi miners.
You can only join the Pi Network, if you have a referral code like (Riaz8263) from other user. While the price of Pi Coin has yet to be confirmed, but some observers of cryptocurrency have already begun to make Pi crypto coins.
Let see what will be the Pi coin price when it does start trading, based on the information from Crypto monitoring website.
Remembers, 35+ million Pioneers are just a handful, and 100 million Pioneers are just the beginning of Pi.
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