Everything you want to know about currency #PI_network_coin

The Pi Network is a digital currency project aimed at making cryptocurrency mining accessible to everyone through smartphones, without the need for expensive equipment or significant energy consumption. The network was founded in 2019 by a team of Stanford University graduates, led by Dr. Nicholas Kokkalis and Dr. Chengdiao Fan, with the goal of simplifying access to the world of digital currencies.

How Pi Network Works:

• Mining via Smartphones: Users can mine Pi currency simply through the mobile application, where they press the mining button daily without excessive energy consumption.

• Consensus Algorithm: The network relies on the Stellar Consensus Protocol (SCP), where users create security circles consisting of 3 to 5 trusted individuals, contributing to enhancing network security and validating transactions.

Stages of Pi Network Development:

• Stage One (2019): Launch of the application and expansion of the user base.

• Stage Two (2020): Launch of the Testnet and development of the infrastructure.

• Stage Three (2021): Announcement of preparations for the launch of the Mainnet, focusing on the KYC process and linking Pi to exchanges for trading.

Listing Pi on Trading Platforms:

Recently, the Pi currency was listed on major trading platforms such as OKX and Bitget, allowing users the opportunity to trade the currency and determine its value based on supply and demand in the market.

The Future of Pi Currency:

The future of Pi currency depends on the success of its transition to the Mainnet and the adoption of applications and services that rely on it. With the increase in the user base and the expansion of the ecosystem, the currency may witness an increase in its value and potential uses.

Concerns and Warnings:

Despite the progress made by Pi Network, there are some concerns regarding the request for personal data for the KYC process before the currency becomes tradable, as well as the long wait for the launch of the open network, raising questions about the project's credibility.

Summary:

Pi Network aims to make digital currencies more accessible and inclusive by simplifying the mining process through smartphones. However, users should exercise caution and closely follow the project's developments before investing or participating, given the potential concerns and challenges the network may face in the future.#PI_network_coin