The Pi Network was launched in 2019 by graduates of Stanford University, aiming to make cryptocurrencies accessible to everyone by enabling users to mine Pi coins directly from their smartphones. Unlike traditional cryptocurrencies that require massive computational power, the Pi mobile app allows users to earn coins with just a single tap every 24 hours.
The Pi Network uses the Stellar Consensus Protocol, which facilitates a low-energy, user-friendly mining process via mobile devices. The network consists of miners (users who mine Pi), contributors (who invite others to the network), and nodes (that validate transactions).
The mainnet transition process has recently begun, a long-awaited achievement, as over 12 million users have been migrated so far. This process may pave the way for the inclusion of cryptocurrencies in major exchanges, potentially enhancing liquidity, although delays or technical issues could negatively impact its credibility. Additionally, PI Network actively participated in the Consensus 2025 conference, a major conference for cryptocurrencies, where it was an official sponsor. However, Pi Network has a long way to go.
