- About Us
We 365 Admin Support, just simplify your IT problems
Call for a free support. +91 96666 59505Platform Partnership
HIGHLIGHTS
After an extensive wait of two years, the mainnet for Pi Coin is finally ready for its much-anticipated launch. This marks a significant milestone for over 10 million enthusiastic users as they prepare to transition their Pi coins from the testnet into the mainnet, indicating that the cryptocurrency is stepping into the realm of recognizable and tradable assets. In particular, users from nations such as Iran, India, and Indonesia are expected to experience beneficial outcomes due to the exchange listings of Pi Coin.
Established in 2019 by a group of Stanford graduates, the Pi Network has emerged as a pioneering blockchain initiative. The core concept of Pi is to enable users to mine cryptocurrency directly through their smartphones, removing the barriers associated with expensive hardware and intricate technical skills. By simply confirming their daily presence within the application, users can engage in crypto mining in a straightforward and accessible manner.
Following the launch of Pi Coin’s mainnet at 8:30 AM UTC on February 20, the cryptocurrency is now officially listed on several prominent exchanges, including OKX, Gate.io, Bitget, and CoinDCX. Currently, the trading prices stand at $1.78 on OKX and $1.70 on Bitget.
Unlike Bitcoin, which operates on a more energy-intensive proof-of-work system, the Pi Network utilizes the Stellar Consensus Protocol, which is economical in energy consumption. The emphasis here is on nurturing community trust rather than requiring vast computational power. To bolster network security and facilitate transaction validation, users can invite and add three to five trusted contacts, forming what is known as “trust circles.”
In return for their contributions to the network, users receive rewards for various activities – this includes running full nodes, broadening their trust circles, and making regular visits to the app. It is important to note that Pi has existed in a closed mainnet state; thus, users must undergo the KYC (Know Your Customer) verification process before they can transfer their mined Pi onto the blockchain. An imminent transition to an “open network” is expected, which will allow for comprehensive external connectivity and significantly enhance the accessibility and potential value of Pi Coin.
To commence the mining process, users must first download the Pi Network application and tap on the lightning bolt icon. After a few days, they can enhance their mining capabilities by establishing a trust circle. Furthermore, users are encouraged to engage with the app’s features, such as participating in discussions and surveys, while also sharing referral codes to amplify their earnings. The platform delineates roles including Pioneer, Contributor, and Ambassador, all designed to reward users for their involvement, with the possibility to earn more based on their engagement level.
