Overview
Pi Network is a new digital currency aimed at making cryptocurrency mining accessible to everyone. Developed by Stanford University graduates, it relies on a mobile app that allows users to mine Pi currency without the need for specialized hardware or significant battery power consumption.
How it works:
Instead of the energy-intensive Proof-of-Work mechanism used by currencies like Bitcoin, Pi Network relies on the Stellar Consensus Protocol (SCP). Users confirm their daily presence on the app by clicking the mining button and building "security circles" from trusted contacts to help secure the network and verify transactions.
Project phases:
The Pi Network project has gone through several phases and recently reached the "open network" phase on February 20, 2025. This phase allowed the Pi network to connect with other blockchain networks and the potential to trade Pi currency outside its ecosystem, generating global interest in the potential for profit and widespread adoption.
Features of Pi Network:
* Easy mining: Anyone with a smartphone can mine Pi currency simply by logging into the app daily and clicking a button.
* Environmentally friendly: The mining process does not consume much battery power or mobile data.
* Strong community: Pi Network relies on a large community of users who contribute to the growth and security of the network.
* Decentralization: Pi Network aims to become a fully decentralized blockchain network in the future.
How to participate:
* Download the app: Download the Pi Network app from the app store on your phone.
* Registration: Create an account using your phone number or your Facebook account.
* Invitation code: You will need an invitation code from a current user to join the network.
* Start mining: Click the lightning button to start a mining session, which lasts for 24 hours. You need to click again each day to continue mining.
* Building a security circle: After three days of mining, you can add 3-5 trusted users to your security circle to increase your mining rate and contribute to the network's security.
* Invite others: You can invite your friends to join using your invitation code to increase your mining rate.
Future of Pi Network:
The future of Pi Network is still uncertain, and its success depends on widespread adoption and the development of real use cases for Pi currency. However, the launch of the open network represents an important step towards achieving this goal.
Important notes:
* Currently, Pi currency cannot be widely traded on exchanges, and its value depends on community trust and potential future usability.
* Using Pi Network requires providing personal information, so users should consider privacy and security aspects.
In summary, Pi Network is an ambitious initiative to make cryptocurrencies accessible to the general public through a unique mining model based on mobile phones and community participation. It remains to be seen how this project will evolve in the future and whether it will fulfill its promise of becoming a widely usable digital currency.