Technical dissection of Pi Coin: A traffic bubble disguised as 'inclusive finance'
The following analysis is from a technical perspective. If there are differing opinions, please refute from a technical perspective as well, thank you.
1. Consensus mechanism: The pseudo-decentralized 'Stellar Protocol' grafting technique
The Pi Network claims to use the Stellar Consensus Protocol (SCP) and the Federated Byzantine Agreement (FBA), but in practice, it heavily relies on centralized servers.
Node threshold is a façade: The Pi mainnet nodes only require 'a phone online', with operational efficiency and security far below that of full nodes for Bitcoin/Ethereum, and actual computing power is concentrated in a few super nodes (only 0.1% of approximately 18 million KYC users running effective nodes).
