What is Pi Network (PI)?
Pi Network is a decentralized cryptocurrency initiative aimed at enabling individuals to mine digital currency using their mobile devices. Unlike conventional cryptocurrencies such as Bitcoin, which require energy-intensive mining operations, Pi Network utilizes the Stellar Consensus Protocol (SCP) to validate transactions efficiently. This approach eliminates the need for costly mining rigs, making cryptocurrency more accessible to the general public.
The network was developed by a team of Stanford graduates, Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, with a vision to democratize digital currency and create a scalable, user-friendly ecosystem. Since its inception, Pi Network has amassed millions of users globally, creating an active community of "Pioneers" who contribute to network security by engaging with the Pi mobile app daily.
What is Pi Coin?
Pi Coin (PI) serves as the native digital asset of the Pi Network, functioning as a medium of exchange within the ecosystem. It allows users to participate in transactions, engage with decentralized applications (DApps), and trade goods and services within Pi’s internal marketplace. Since Pi Network operates on a phased launch model, the coin has been mined within an enclosed ecosystem, with users accumulating balances in anticipation of its full integration into an open, tradable market.
Pi Coin is designed to play a crucial role in a decentralized economy, offering a range of functionalities. It enables peer-to-peer transactions, allowing users to send and receive Pi Coins directly without intermediaries, ensuring seamless digital payments. Developers can leverage decentralized applications (DApps) within the Pi Network to integrate Pi Coin for in-app purchases, services, and transactions. Additionally, Pi Coin supports e-commerce and marketplace interactions, where holders can use their tokens to buy goods and services from merchants that accept Pi payments. Looking ahead, Pi Coin is expected to be incorporated into decentralized finance (DeFi) applications, facilitating services like lending, staking, and other financial tools.
Pi Network Mainnet Launch
On February 20, 2025, Pi Network officially launched its open mainnet, transitioning from a closed ecosystem to a fully decentralized blockchain. This milestone enabled external transactions, wallet interoperability, and potential exchange listings, allowing Pioneers to finally utilize their mined Pi Coins beyond the enclosed network.
The total circulating supply of Pi Coin currently stands at approximately 6.93 billion, with ongoing discussions about the token’s inflation model and long-term sustainability. While Pi Network has not specified an absolute supply cap, the development team has emphasized measures to balance scarcity and accessibility.
Connection Between Pi Coin and Pi [IOU]
Pi [IOU] is a speculative digital asset listed by some cryptocurrency exchanges as a way for traders to engage in price speculation on the future value of Pi Network’s native token.
Pi [IOU] is linked to Pi Coin in the sense that it is designed to mirror expectations of Pi Coin’s value upon its full release. Despite this connection, Pi [IOU] itself is not an official Pi Network asset. Its price fluctuates based on trader speculation rather than actual utility or adoption. As a result, potential investors should exercise caution and conduct thorough research before engaging with Pi [IOU] trading, as its value is highly unpredictable and dependent on the Pi Network’s progress toward a fully open mainnet.
The current price of PI is available and updated in real time on Binance.
