Pi Network is a cryptocurrency project launched on March 14, 2019, by a team including Nicolas Kokkalis and Chengdiao Fan, both Stanford-educated. 
Pi Network
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Coin Bureau
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Its aim is to make crypto mining and participation accessible to everyday smartphone users rather than requiring expensive hardware or high electricity usage. 
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How does it work?
Instead of traditional “proof-of-work” mining (like Bitcoin) which uses heavy computation, Pi uses a mobile-first approach: users (often called “Pioneers”) open the app and tap a “mine” button periodically to earn PI tokens. 
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The network uses a consensus model inspired by the Stellar Lumens Stellar Consensus Protocol (SCP) or a Federated Byzantine Agreement style mechanism, relying on trusted “security circles” rather than brute computation. 
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The app invites users to build trust-based networks (i.e., invite others / form security circles), which helps with network validation and user verification. 
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Current Status & Key Milestones
As of 2024/2025, the project says it has tens of millions of users worldwide. 
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The network moved toward an “Open Mainnet” phase on February 20 2025, which allows wider connectivity and supports external integrations. 
Token economics: There is a maximum supply of about 100 billion PI tokens (per December 2021 whitepaper addendum). 
ValueWalk
Pros & Opportunities
Low barrier to entry: You don’t need mining rigs—just a smartphone and the app.
Energy-efficient design: Because it avoids heavy computation, it is more environmentally friendly (in principle) than traditional PoW mining. 
Builds large community: By focusing on mobile users globally, especially in places where traditional mining is impractical, it aims for broad inclusion.
Risks & Criticisms
Value & utility still uncertain: While PI tokens exist, their real world usage, liquidity, and value depend on ecosystem development and adoption
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