Has the price of Pi Coin reached $315,000? Chainlink Oracle reveals the truth!
The Pi Network shocks the world again!
According to a news report, the price of Pi Coin reached $315,000, and in some data, this high price reached $320,000!
Yes, you read that right, three hundred fifteen thousand dollars!
I was shocked after reading this news, so I decided to do some research.
And now, the most important question: how did this happen?
To verify this price, the Pi Network took another step and integrated Chainlink Oracle into its system.
But before you are surprised by the price of Pi, let's understand what Chainlink Oracle is.
What is Chainlink Oracle?
Chainlink is a decentralized oracle network that acts as a bridge between blockchain technology and real-world data.
The Pi Network currently uses Chainlink Oracle to track the value of Pi based on peer-to-peer (P2P) transactions and its actual utility in the Pi ecosystem.
This means that as the use of Pi in the real world (for purchasing goods and services) increases, its value also rises, and Chainlink converts that into a live broadcast that everyone can see.
How does Chainlink Oracle discover the price of Pi?
Chainlink aggregates real-time price data from various sources, such as peer-to-peer (P2P) markets, service platforms, and the broader Pi ecosystem.
Then this data is verified and various methods are used to estimate the value of Pi.
Based on this data, extremely high prices are being recorded, such as $315,000, especially from symbolic service transactions or high-value bullion.
Is this a glimpse into the future?
Pi has not yet been fully listed on the open market,
But the data coming from Chainlink Oracle certainly indicates that once it is launched on the open mainnet, the demand for it and its utility could drive it to astonishing levels.
In other words, GCV 314159 has been confirmed (joke or not!).
Still confused?
Don't worry, I was confused too at first. Here's the explanation:
Chainlink is a blockchain that does not solely rely on online data.
Real prices are collected from sources such as stock markets, cricket betting, agricultural mandis, and others, linking them to the blockchain in real-time.
This feature is not available in most blockchain networks, which is why the Pi Network collaborates with Chainlink.
Let's take an example
Let's assume someone used their Pi tokens to buy a mobile phone from a local store.
This transaction is not recorded on a major cryptocurrency trading platform, but it shows the real demand for Pi and its utility.
Chainlink Oracle aggregates data from off-chain sources, such as phone prices and used Pi tokens, then estimates the real-time market value of the Pi token.
Dear pioneers, our dream is now almost a reality, but we need to work even harder!
The Pi Core team is working diligently, but real progress depends on us.
The more effort we put in, the faster we will see Pi priced at GCV.
Don't stop now - let's build a new world together!
SANO+Chainlink will reduce the risk of Pi's value manipulation using Oracle, ensuring the integrity of the data provided to the smart contract.
When tracking the internal value of Pi, the data shows that the value of Pi reached $315,000, and its lowest price was $313,000.
