The project started in 2019, an interesting and ambitious project based on mining crypto... on your phone ! Indeed you can mine cryptocurrency with a free energy light app (it does not effect your phone performances), and this app doesn't have access to your personal data. The goal is to create a cryptocurrency and a platform which will be owned by the miners, Pi seeks to build a large community based on sponsorship.
-So how is it working ? It's simple, the app allows you to earn Pi by contribution to the community, so more contribution = more earning. Everyday you launch the app, you click mining and it's start mining for the next 24 hours, when you start it's 0.25pi/hour (you can earn a lot more we will come back to it later). The project is divided in 3 phases, the first was to bring 1 millions miners on the app, it was a success with 4millions+ users, we are currently in Phase 2, which aim to see how miners are going able to trade and exchange this crypto, some users have taken part to few tests.
For the anecdote the first transaction was 10 honeypots for about 40 Pi, the other exchanges concerned objects like PS4 games, a hair dryer or a camera and the value of a Pi coin was between 1$-15$ (this number is only based on those tests, the value of a Pi coin will certainly change and evolved in the future).
Once Phase 2 will be over, the phase 3 will be launched and will allow to the miners to trade, exchange or withdraw your Pi Coins. your phone will be also used as your cryptocurrency wallet, Pi will officially become a fully decentralized blockchain.
-So how can you join and earn a lot of Pi ? All you have to do is grab your phone, click on this link to download the Pi App : https://minepi.com/mcalex7 and use my sponsorship code "mcalex7" in order to join, indeed Pi bet on sponsorship to build a huge network of miners and picked this sponsorship system. Once you have done this, you have officially join the Pi project and my earning Team as a miner (which will give you an extra on your mining sessions!)
You can also a lot more like I told you, you can become an ambassador by inviting your friends, family and more to the Pi Network with your own sponsorship code ! As an Ambassador, you earn up to a 25% bonus on your base mining rate for each person you invite to the network. Furthermore you can be a contributor by creating a security circle with 3 to 5 miners that you trust, this circle prevents bad actors from executing fraudulent transactions and helps the app to be more secured.
The App is very intuitive don't worry if you haven't understand everything, but hurry up it's time to earn some Pi
