You may be wondering what is Pi. It's not a symbol of mathematics. Pi is a new cryptocurrency (Digital Currency) for and by everyday people can mine (or earn) from your phone. It allows you to mine on your phone without draining your battery. sounds good right?
so why Pi is developed though there are other cryptocurrencies like Bitcoin, Ethereum etc?
For this let's go back to history of cryptocurrency
Bitcoin P2P Electronic cash was launched in 2009 by an anonymous programmer Satoshi Nakamoto for the freedom of money. For the first time in history, people could pay each other directly without requiring a third party or trusted intermediary bypassing institutional fees, obstructions. Bitcoin was a cryptocurrency without boundaries, powering and connecting a new global economy. Unlike traditional bank accounts that can be seized by government authorities, the cryptocurrency in your wallet can never be taken away by anyone without your private key.
In the early days of Bitcoin, anyone could earn 50 BTC by simply running Bitcoin mining software on their personal computer. As the currency began to gain in popularity, clever miners realized that they could earn more if they had more than one computer working to mine. As Bitcoin continued to increase in value, entire companies began to spring up to mine. The emergence of these enormous mining corporations known drove the Bitcoin Gold Rush. The ease of mining Bitcoin and the subsequent rise of Bitcoin mining farms produced a massive centralization of production power and wealth in Bitcoin’s network contributing to environmental issues around the world.
Bitcoin was the first to show how cryptocurrency could disrupt the current financial model, giving people the ability to make transactions without having a third party in the way. The increase in freedom, flexibility, and privacy continues to drive the inevitable march toward digital currencies as a new norm. Despite its benefits, Bitcoin’s concentration of money and power present a meaningful barrier to mainstream adoption.
Problems of Bitcoin
- Demands enormous computing power and energy consumption
- Mining Bitcoin is hard as people can mine bitcoin in fractions
- Investing in Bitcoin is risky.
After identifying these key barriers to adoption, the Pi Core Team which is led by two Stanford PhDs and MBA, all of whom helped build Stanford’s blockchain community set out to find a way that would allow everyday people to mine. They built an app called Pi. While most cryptocurrencies (like Bitcoin) have been very hard for everyday people to use and access, Pi puts the power of cryptocurrency into the palm of your hand.
PI is a long term project whose success depends on the collective contributions of its members. It is dedicated to helping everyday people capture more economic value that today goes to banks. You cannot withdraw Pi yet. You will be able to withdraw PI or exchange Pi for other currencies in Phase 3 of the project(Right now pi is on phase2). if you are looking for quick money, look elsewhere.
Today PI value is unknown till now. Like Bitcoin, Mining PI gets harder over time. The mining rate halves for every 10x increase in members. Right now Pi Network has crossed 3.5+ million pioneers. The mining rate will either halve or fall to zero when the network crossed 10 million engaged Pioneers. So mine before your rate halves. As fast as you join the Pi Network the more Pi you will earn.
Advantages of Pi
- Free, Fairly DIstributed and User-Friendly / Eco- friendly
- Enables mining on personal computers as well as on mobile phones.
- Doesn't consume electrical power and Does not drain your battery.
- No need wifi, data
- Pi has spread to 120+ countries so you can chat in your own language
Why I love PI
Reason 1 The PI Network has a feature of chat upvote and downvote. Many Pioneers gather from all corners of the world and give feedback. Those feedbacks are helpful for PI Network to add additional features on the App.
Reason 2 PI is so easy to use. You just have to click the lightning symbol every 24 hours to earn Pi. It Neither consumes electrical power Nor drains your battery and don't need wifi and data to mine crypto. And It is available on both Playstore and Appstore (Now Node version also available)
Reason 3 Pi is built to solve the problem of bitcoin and it is predicted that its value will raise upto Bitcoins value in future so I can earn huge benefit if I mine now
Join PI Network
INvitation code=sabingurung
