Pi Network is a blockchain-based digital currency platform developed by Stanford PhDs Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Launched on March 14, 2019, it allows users to "mine" Pi coins on smartphones without energy-intensive hardware, utilizing a Stellar Consensus Protocol (SCP) adaptation.

*Key Features:*

- *Mobile Mining*: Pi Network enables users to mine Pi coins using a lightweight mobile app, consuming minimal battery power.

- *Open Mainnet*: Pi Network launched its Open Mainnet on February 20, 2025, enabling real-world transactions and blockchain integrations.

- *Pioneers*: Users who mine Pi coins are called Pioneers, and they can earn Pi coins by contributing to the network.

- *Pi Browser*: The Pi Browser displays the real Pi value on the Pi Blockchain Explorer and shows the dollar equivalent beneath the total balance in the Pi Browser wallet.

*Pi Coin Functionality:*

- *Contribution Balance*: Pi mined and never transferred to any exchange retains the Purity Badge and can function on GCV (Global Consensus Value).

- *Non-Contribution Balance*: Pi transferred to an exchange loses the Purity Badge and cannot function on GCV.

- *Requirements to Hold Pi with Purity Badge*: Create a Pi account, mine for at least 30 days, complete KYC, and be in the migration queue ¹ ².

*Pi Network's Future:*

- *Pi Gas Fee Reduction*: The Pi gas fee will reduce when the global open mainnet goes live.

- *Contract Address*: Pi will have a contract address under the Pi Blockchain Network.

- *Computer Nodes*: Up to 300 computer nodes will be activated.

- *PiFest and Ecosystem Initiatives*: Pi Network is actively developing its ecosystem with initiatives like Pi Ad Network and PiFest ².