Pi Network is a project aiming to create a new digital currency called Pi, which claims to be easier to mine using mobile phones. Launched in 2019 by a team of Stanford University graduates, the project aims to democratize cryptocurrency mining compared to Bitcoin, which requires powerful hardware with high power consumption.

How does it work?

Mobile mining: Users can earn Pi through a mobile app without requiring significant resources or excessive power consumption.

Referral system: Relies on inviting others to increase mining speed.

Transition to blockchain: The network is still in development and aims to launch an autonomous mainnet.

Is it legitimate or a scam?

There is no evidence that it is a scam, but it has also not yet proven successful.

To date, Pi cannot be traded outside of its system, and it has no real market value.

The project has faced criticism for its delayed mainnet launch and its reliance on a pyramid scheme-like marketing model.

What is its current status?

If you're considering investing or participating, it's best to keep track of the latest developments, as their success depends on whether they can achieve a real blockchain network and widespread adoption.