Introduction to Pi Network/ Pi digital currency
Cryptocurrencies are a new type of digital currency that is managed and protected by a group rather than by governments or banks. You can now mine (or earn) Pi by assisting in the security of the currency and expanding Pi’s trusted network. Although most cryptocurrencies (such as Bitcoin) have been difficult to use. And access for ordinary citizens, Pi puts the power of cryptocurrency in your hands.
Is Pi real?
Pi digital currency isn’t a ruse. It’s a sincere attempt by a group of Stanford graduates to make cryptocurrencies more accessible to the public.
Pi is led by two Stanford PhDs and one Stanford MBA, both of whom contributed to the creation of Stanford’s blockchain culture. We can’t promise that the project will be successful. But, Pi Network pledge to do everything in power to make our common aspirations a reality while upholding the highest ethical standards. You will learn more about Pi Network by going to the “Core Team” tab in the app’s main menu.
How does it work? And how can I earn Pi?
This app helps you to earn Pi by contributing to Pi’s community in small ways. You get more Pi the more you contribute.
Check in every 24 hours to start earning Pi, then press the lightning button to begin mining. You will increase your hourly rate by inviting trusted friends and family to join the group once you’ve started mining. After three days of mining, you will increase your earnings by expanding your security circle, which contributes to the network’s overall security. Keep in mind that the network’s early members mine at a faster pace than the later members.
Do I have to keep the app running in the background?
You don’t have to keep your app open to mine. Pi has no effect on the output of your handset, does not drain your memory, and does not use your network data. You can also close the app after hitting the lightning button and continue to mine Pi digital currency.
So, how do we mine cryptocurrency without using up your cell phone battery or data?
Pi network secures the ledger through participants vouching for each other as trustworthy. Rather than consuming resources as evidence of work cryptocurrencies like Bitcoin do. This creates a system of interlocking “intelligence circles” that decides who is allowed to conduct transactions. This innovative approach enables you to mine cryptocurrency on your phone by leveraging your established social networks, with no expense, no battery drain, and a small environmental footprint. For a more precise and comprehensive description, read the technical part of Pi’s White paper.
What’s the value of Pi today?
Pi is currently worth about 0 dollars / euro / etc., equivalent to Bitcoin in 2008. The importance of Pi would be backed up by the time, attention, products, and services provided by other network members.
Pi’s members hope to capture some of the value that usually goes to banks, technology companies (e.g., Facebook, Amazon), and other intermediaries by pooling our attention, products, and services around a shared currency.
Pi Network is currently laying the groundwork for this digital currency and marketplace by distributing the currency. Establishing a community, and developing technologies to ensure its protection.