this is my first post on this new blog. Today I want to talk about the PI Network, that I recently joined and I also became an active miner of.
What is PI and the The PI Network
The PI Network and it's cryptocurrency PI were establishes by PhD student of the Stanford University.
The goal is to build an inclusive peer-to-peer marketplace, that is accessible to everyone and is operated by everyday people.
This way they want to democratize the distributions of wealth in our society.
What is the problem with current cryptocurrency market?
The first generation of cryptocurrency, such as Bitcoin, have become out of reach for the majority of people. By mining it you would compete against huge mining farms with high energy costs. And buying it on exchanges will cost you hundreds or thousands of dollars by now. Among other problems are fees, censorship that further keep people from participating.
How does PI want to make cryptocurrency accessible?
The first solutions is to enable mining on mobile phones.
PI currently has 3.5+ Millions active Miners (called Pioneers).
Roles of Pi Miners
Pioneer: You have to confirm that you're not a robot once every 24h and restart your PI mining session.
Contributor: A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.
Ambassador: Invite others to join the PI Network. Every active miner will contribute to your own mining speed.
Node: A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer. The PI Node currently available in Beta mode.
Why you should start mining PI now
The PI Network is now in it's 2. Phase. When the members count reaches 10 million, 100 million and 1 billion the speed at which you can mine PI will decrease and might reach 0. So, use your chance to mine as many PI as you want for no cost at all. Join The PI Network and start mining: https://minepi.com/bluekasumi with invitation code: bluekasumi
The PI server is in it's test phase and is emulating the behavior of the decentralized system as it will function once its live. All of the PI, that were mined by the users, will be migrated to the live net once it launches. Please note, that this means, that you can currently not withdraw your PI.
Before PI will launch the main net, the Node software will be deployed on a testnet. You can download the Node in it's beta mode and apply to become a tester. Once the community is satisfied with the performance, Pi will migrate to the next phase.
When the software has been thoroughly tested on the testnet, the official main net of the Pi network will be launched. Only accounts belonging to real individuals will be honored and transferred to the main net. In this phase Pi can be connected to exchanges and be exchanged for other currencies.
Join The PI Network
You can use my invitation Link to join: https://minepi.com/bluekasumi
Invitations code: bluekasumi
Thank you for reading and happy mining!