In this blog we are going to see how anyone can mine Pi crypto currency at a higher rate.
For those who are hearing Pi for the first time please look into my earlier blog on introducing Pi
In short Pi is a crypto currency that can be mined easily on phone without draining your battery.
How to mine at higher rate?
Currently the default earning rate for Pi is 0.1 π /hr which can be increased by taking different roles
Become an Ambassador:
As an Ambassador, you earn up to a 25% bonus on your base mining rate for each person you invite to the network. You become an Ambassador when new members join your earning team by using your invitation code when they sign up for Pi Network. Each member of your earning team provides a 25% boost to your earnings when they are actively mining. A new member can only be added to their inviter’s earning team, because each member only joins Pi once using one inviter’s invitation code.
Become an Contributor:
Becoming a Contributor allows you to earn more Pi by building a security circle of 3-5 trusted members. Pi’s Contributor role becomes unlocked for users after you’ve finished 3 mining sessions as a Pioneer. After 3 days of mining, you will see a new icon of the security circle on the home screen of the app which you can click to start. To become a contributor, you need to add 3-5 people who you trust to your security circle.
Security circles are groups of 3-5 trusted people built by each of Pi’s members. Security circles secure the currency by building a global trust graph that prevents bad actors from executing fraudulent transactions
While cryptocurrencies like Bitcoin secure their ledgers by forcing miners to burn energy (proof of work), Pi secures its ledger when its members vouch for each other as trustworthy. Pi’s Contributors vouch for each other by building security circles comprised of 3-5 members they deem as trustworthy. Security circles should be comprised of people you trust not to execute fraudulent transactions. The network’s security circles form a global trust graph that determines who can be trusted to execute transactions on Pi’s ledger.
You can invite people and add people in security groups by tapping on the green color Pi rate indicator which will in turn take you to the below screen.
Hope this helps to increase your mining rate! Happy mining & good luck on your journey towards becoming an Ambassador & contributor.
Please feel free to ask any questions you have in the comments.
See you soon on another blog on Pi
Link to Pi Intro which have an invitation code - Introducing Pi Network - Eco friendly crypto for everyone!