Bitcoin. Ethereum. Cardano. Every one of you very likely knows about or even owns these three cryptocurrencies, which are the top three by market cap. However, chances are that you haven't heard of Pi Network. This will not be the case for long, though, as the mainnet will be released soon and a new era of more accessible crypto will begin with it. 

What is Pi Network?

Pi is a new kind of cryptocurrency. Rather than relying on Proof of Work or Proof of Stake to verify blocks on the Pi Network, Pi instead uses a new validation method called the Stellar Consensus Protocol, or SCP. Rather than being cost-prohibitive to enter like PoW or PoS due to high initial investments, SCP allows for block validation with virtually no processing power and absolutely no staking. It instead relies on teams of people in security circles to maintain the network. Because of this, Pi can be mined from mobile devices without draining the battery or slowing it down. The ability to easily mine crypto from mobile means that the whole Pi Network will be more accessible to anyone, so more miners will be able to join, thus making the network more robust. 

What is the Value of Pi?

Currently Pi is completely worthless because it is still in the testnet phase; however, the mainnet will be launced by the end of 2021, and that is when Pi will gain value. Just because the project is in the testnet phase doesn't mean you can mine it, and mining now may turn out to be a great idea because you will already be holding Pi when the mainnet goes live. Even though Pi doesn't have any value at the moment, people have still made estimates as to what the value of Pi will be. Coin Data Flow estimates that the value of Pi will be around $1.64. 

What are the Pros of Mining Pi Now?

• It costs you nothing except the time to click on one button in the app once a day
• If the Pi Network succeeds you will be among the first to hold it, so you will have a great ROI
• The Pi Network is more accessible than Bitcoin and Ethereum
• The Pi Network is much more energy efficient than any other cryptocurrency
• Joining the mining network now means you will be in before the next halving

What are the Cons of Mining Pi Now?

• There is no guarantee that Pi will ever have any value
• The Pi Network does require KYC, so it is not anonymous

How Do I Start Mining Now?

To being mining Pi, first you will need to download the mobile app and create an account. Once you have completed that, you need an invite code to join the network. To get one you need to know someone with an invite code. Start asking around your crypto-holding friends and see if any of them have one they can share with you. Or you can use my invite code by clicking this link.

Make sure you get in before the mainnet launches to maximize your potential profit, and happy mining!