What is Pi Network and how does it work? : Do you know what is Pi Network or what is Pi Coin? If not, then you have come to the right place, here we will give you complete information about it in detail so that you can know all the things about it.
You must know about Cryptocurrency because nowadays the trend of Crypto Currency is in full swing. Everyday new Crypto Coins and Tokens are being launched in the market, in which people are investing freely. Today we are going to tell you about such Crypto Coin which you can get without any investment.
What Is Cryptocurrency?
Cryptocurrency is a digital currency created by a technology similar to cryptography and using a distributed ledger system, which works by blockchain. Through this technology, the developers aimed to create such a currency, which is secure, private, traceable and decentralized for a longer period of time.
When we have to pay to buy something or take a service on a large scale, then we can make payment in digital form through online money exchange. Therefore, the payment made in it is done using the Internet in the form of some wallet. This currency appears new to us, so it is the most advanced version of cashless payment, which is done in digital form.
What is Pi Network?
Friends, The Pi Network is a new type of cryptocurrency that can be mined with an Android phone. It has not yet reached the final stage of development. So far this currency has no value in the real world. Pi Network is a new cryptocurrency invented by some PhD students from Stanford University.
This revolutionary new cryptocurrency has become very popular in the world and it can even make you rich! It is a long-term project whose success depends on the joint contribution of its customers. Like cryptocurrency, it is a new form of digital money that is controlled, maintained, and secured by a specific group, rather than by governments or banks.
Users are already spreading it among their friends and family, which has enabled it to gather over 10 million users worldwide in a very short span of time. There is another reason, most cryptocurrencies (such as bitcoin) are difficult for people to use and access on a daily basis. However Pi Network is in the palm of your hand.
The Pi Network cryptocurrency was created with a noble purpose. To ensure that “no one is left out of the crypto revolution”. At the same time, it is directly stated that this is a new cryptocurrency. It is difficult to dig and it is risky to invest in it. But with the possibility of mining on a mobile phone without battery and anyone can do it easily.
Who created Pi Network?
In the year 2019, it has been created by 3 PHD students Nicolas Kokkalis, Aurélien Schiltz and Vince McPhilip of Stanford University but has not been launched yet.
We did a lot of research about these women and also checked their linkedIn profile, they all had positive reviews. But even such a positive review sometimes does not seem right. That’s why it would not be right to completely trust the Pi network created by them.
How does Pi Network work?
Pi Network is a new idea in the form of cryptocurrency. Planning to buy, sell or trade through it in the future. But currently there is no opportunity to trade it. It can be said that it is currently in beta testing. You can find details on their website.
Currently the only way to mine Pi is by downloading the Pi Network app. Then the user has to register with two options Facebook or Mobile Number. diameter, so a user can mine a few pies per day. They have a referral system through which the user can earn some more pie.
So when the target is reached, the mine rate will gradually decrease and when it reaches 1 billion users, the mine rate will drop to zero. This is called huffing. The graph given below will make the matter more clear.
Are Pi Network Coins Secure?
Simply put, until the Pi network is launched, it cannot be trusted and cannot be considered safe. If seen, no one can say anything about what will happen in the future of crypto currency. As far as the network is concerned, this lunch has not even happened yet. There is no guarantee whether the Pi network will be launched in the coming days or not.
Pi network is very popular because of the facility of free mobile mining. And for this reason many people are mining it from their mobiles. Like other crypto currency, it would not be right to call it safe if you are mining Pi Coin, then use a separate mobile for this.
Do not do Pi Coin mining on the mobile which has Ethereum, Bitcoin and other Crypto Assets. Who knows, it is possible that he is stealing everyone’s valuable data in the guise of freebies. Nowadays data is everything. That’s why don’t do Pi network Coin mining on the mobile on which you have valuable data.
The Future of the Pi Network
According to people, the value of Pi will be like bitcoin, which means that its value can be $ 100 as soon as it is launched. But this will not happen at all.
The way the user base of Pi is increasing, if it continues to grow in the same way, then its future may be very good. For this it has to be launched at the right time. If it turns out to be a scam then a lot of people’s precious scolding will go with it. If it is launched in future then the value of 1 Pi Coin can be 1 dollar or less.
How to Buy or Sell Pi Network Tokens?
The most optimistic predictions for Pi cryptocurrency are given by those who have already downloaded the application. Some experts suggest that the price of a new currency at this level could range from 10 to $100.
However, there is absolutely no evidence to support this. The team that started the project did not disclose any information. However, it is worth mentioning that the tokens will be generated up to 100 million in advance and only then will the generated assets be internally traded.
PI App Installation Process
Friends, If you also want to use PI APP, then for this you have to go to Google Play Store and download this App.
- First of all, you have to signup in it with your mobile number or Facebook account.
- Now you have to create your own password and note it down with you.
- After this, you have to enter your first and last name, which should be as per your Aadhaar card and create a separate User Name below.
- In the next step you will be asked for an Invitation Code where you can enter my code xxxxx.
- Now your account is created, and you can start mining.
When will Pi Coin be listed?
There are some phases inside any mining application. When the O phase is completed, then the last step remains that of listing. If we talk about Pi Coin, then the stage of development came in Phase-1, then after that the stage of Testnet came in Phase-2 and now Pi Network is running in Mainnet in Phase-3.
And after Mainnet, the last stage remains, that of listing. In the coming few months, there can be an update regarding the listing of Pi Coin.
Faqs
What is Pi Network?
The Pi Network is a new type of cryptocurrency that can be mined with an Android phone.
Who created Pi Network?
In the year 2019, it has been created by 3 PHD students Nicolas Kokkalis, Aurélien Schiltz and Vince McPhilip of Stanford University but has not been launched yet.
Are Pi Network Coins Secure?
Simply put, until the Pi network is launched, it cannot be trusted and cannot be considered safe.
How to Buy or Sell Pi Network Tokens?
The most optimistic predictions for Pi cryptocurrency are given by those who have already downloaded the application.
Conclusion
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