Sirwin
Sirwin

Pi Mining

By Mchapeyama | CryptoSocial News | 11 Feb 2021


 

Pi mining is promising to be one of the greatest crypto projects to look forward to. This is a project, developed by the Stanford University community, led by some PhD and MBA graduates, whose focus is to make cryptocurrency accessible to people around the world.

What is Pi?

This cryptocurrency was developed by Stanford University. Like all other cryptocurrencies it is finite in supply. The maximum supply shall be 21 000 000. This is a figure many cryptocurrency enthusiasts are well-versed with. That is the same maximum supply of bitcoins.

Mining

Currently, people mine the Pi cryptocurrency using a mobile application, making it accessible to anyone with a smart phone. By standards, it is the easiest cryptocurrency to mine compared to the existing ones.

This is so because it does not require much energy or internet data to mine. As long as you have installed the application, you mine the Pi even when your phone is switched off. So, you get the Pi tokens virtually for nothing except your trust in it.

You have to do a few things to mine it. First, as I said earlier on, install the application on your smart phone. From there, activate the mining process once every 24 hours; yet it mines throughout the day.

It is unlike the faucets you might be used to, where you have to claim the tokens every one hour, which is frustrating and retrogressive.

Interestingly, the mining process does not affect your phone in any way. It does not affect its performance nor does it drain its battery power. More still, it does not use your internet or Wi-Fi data.

So, once within 24 hours you hit the lightning button and you are done.

How to increase your earning capacity?

The best way to increase your mining capacity is to join early and be active. The algorithm enables members who have joined earlier than you to mine the Pi at a faster rate than those who come afterwards. Why is it like that? The explanation given by the developers is that, the first people to join are rewarded for their high contribution to the Pi community. That makes sense. Doesn’t it?

As more people join the community, the mining rate will significantly decrease.  Eventually the mining rate will fall to zero as soon as the targeted number of people is reached.

Become a contributor: To increasing your mining rate become a contributor .A contributor is an individual who invites other people to join the community. The more you invite others to join, the higher your mining rate becomes. You can also become an ambassador

Have a security circle: This is a group of 3 to 5 trusted people you invite and work closely with.

Why does Pi have the potential to reach the sky?

As I stated in the beginning, Pi has a remarkably low supply of coins, only 21 000 000. Other cryptocurrencies have billions of coins. That is why their values remain very low over a long period of time. With only 21 000 000 coins circulating among over 7 billion users, you can imagine how high the value of Pi will become.

Conclusion

The best thing is to join Pi and start mining right away. This currency has the potential to perform in a similar way as the bitcoin.

If interested click here for instructions. 

 

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Mchapeyama
Mchapeyama

I am a blogger and writer


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