ANALYSIS ARTICLE: PI NETWORK – POTENTIAL AND CHALLENGES
1. Introduction to Pi Network
Pi Network is a blockchain project launched in 2019 with the goal of creating a cryptocurrency that can be easily mined on mobile devices. According to data from Pi Network’s official website, the project has attracted more than 60 million global users.
2. How Pi Network works
Pi Network uses the Stellar Consensus Protocol (SCP) instead of the PoW (Proof of Work) mechanism like Bitcoin. This helps reduce energy consumption and expands accessibility to more users.
Participants can “mine” Pi by logging in and verifying their identity (KYC) daily without investing in hardware. However, this mining does not actually “mine” coins in the traditional way, but is only a form of recording ownership when the mainnet is opened.
3. Pi Network's Advances and Risks
✅ Potential:
Has a large user base and a thriving developer community.
Accessible mining model, helping to popularize cryptocurrencies to more people.
The development team is committed to creating an ecosystem that uses Pi in practice.
⚠ Challenges & risks:
Not listed on major exchanges: Currently, there is no official announcement about Pi being listed by Binance, Bybit or Coinbase.
Lack of transparency: The project has yet to publicly release its source code or provide independent audit reports.
Mainnet Not Fully Open: Although the development team announced that the Mainnet will be opened in 2025, there is no specific information about the timing.
4. Ability to list on Binance and major exchanges
According to Binance's listing criteria (Listing Guide), a coin needs to have:
- The network operates stably and transparently.
- Real trading volume and strong community support.
- Application ecosystem using coin.
Currently, Pi Network does not fully meet the above criteria, but if the project is completed and proves its usefulness, the possibility of future listing is still possible.
5. Conclusion
Pi Network is a potential project, but there are still many risks and challenges. Investors need to follow information from official sources and consider carefully before participating.
Note: This is neutral analysis based on publicly available data and is not investment advice.