Pi Network is a cryptocurrency project that aims to make digital currency mining accessible to everyday users by allowing them to mine Pi coins directly from their mobile devices without significant energy consumption. Founded by Stanford PhDs Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, Pi Network officially launched on March 14, 2019 (Pi Day), and has since grown into a community of tens of millions of users worldwide.
The network utilizes the Stellar Consensus Protocol (SCP), which enables secure and efficient transactions without the need for energy-intensive mining equipment. This approach contrasts with traditional cryptocurrencies like Bitcoin, which require substantial computational power for mining.
In February 2025, Pi Network transitioned from its testnet to the open mainnet, allowing users to perform unrestricted transactions and integrate external wallets. Consequently, Pi coins became tradable on major exchanges, including OKX, Bitget, and CoinDCX.
However, following its listing, Pi Coin experienced significant price volatility. On February 21, 2025, the coin's value dropped by approximately 62.63%, from a peak of $1.97 to $0.737. This decline was attributed to early miners cashing out their holdings, the absence of a Binance listing, and concerns about Pi's real-world usability.
Despite these challenges, Pi Network continues to develop its ecosystem, aiming to provide real-world utility for its users. The platform aspires to facilitate a decentralized, people-powered currency, enabling businesses and individuals to trade goods and services within the Pi Network.
For a more in-depth understanding of Pi Network, you might find the following video informative:
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