What is Pi Network :
- Pi is a developing social cryptocurrency designed to run on mobile phones under Stellar Consensus Protocol (SCP).
- The project is developed by Standford PhDs and graduates Nicolas Kokkalis, Chengdiao Fan and Vince McPhillip.
- The project was launched on March 19th, 2019 (the official Pi day).
- Pi means to be secured and backed by everyday people.
- Pi means to be easily mined on mobile phones with low financial cost, limited battery drain, and a light footprint on the planet.
- Developers intentions are that Pi's value should NOT reach huge values so it is more accessible to people to use it as a unit of exchange (more than a store value)
The development stages of Pi Network :
- Beta - Virtual representation
- Testnet
- Mainnet
Pi Network is currently in Phase 1. Phase 2 started running along since March 2020.
Further more, Pi's value worths nothing yet.
Pi Network developments :
December 2019 : Tests of transferring Pi for payments have started
March 2020 : Tests for the "Nodes" software have started
April 2020 : Tests for integrating third-party applications to Pi network have started
June 2020 : Operational tests of nodes and supernodes with validation operations have started, as well as security protocol tests to allow the coming blockchain implementation
Review : The project looks promising as the development seems to be on the right path. The phone application works very fine. It doesn't slow down the phone system and works even if the application is closed. Group chats are available in many languages. We can mine Pi cryptocurrency but since the phase 3 is in development, we cannot convert Pi into other currencies yet. It is only a "premining" phase it also means you'll have to validate your identity once it will be possible to convert Pi - IF it gets there (to prevent scammers).
To install a node for Windows users : The node installation doesn't work on Windows 10 so you need a lower version.
You need an invitation code to start mining.
For those who need one : arwellie
To download the app :
https://play.google.com/store/apps/details?id=com.blockchainvault&hl=fr_CA
