What is PI Network?
Developed by graduates from Stanford, Pi is a Crypto project aiming to make the mining of cryptocurrencies accessible.
This project’s first phase enables its users to mine tokens using its mobile app. Pi Network happened two years ago (March 14, 2019). After three months, the project had about one hundred thousand active users.
The following year (2020) saw the next phase set sail with active users multiplying. This May, there were more than seventeen million active people using this network. The Pi coin is the native token of the Pi project network that is powered by blockchain technology, and just like BTC, it undergoes halving to make it scarce.
The network works with the SCP algorithm meaning validators transact on a distributed ledger before reaching a consensus on new transaction records.
Some people claim that this network could be a Ponzi scheme because it urges developers to enroll their friends and members of their families. Note, however, that holders earn direct networks and not because of connections.
Can I purchase PI Cryptocurrency?
It is currently impossible to buy the Pi tokens and store them in your Pi wallet. In the third stage of the project, miners of the tokens will get a chance to exchange and withdraw their coins.
At this point, the Crypto would have gone through total decentralization. In turn, this will prevent pseudo accounts from getting a lot of these Pi Tokens.
The launching of the third stage will see users;
- Get full access and control of their own wallet keys. These keys allow holders to transfer or use the cash they possess
- Use Pi tokens to purchase goods and access services on the Pi peer-to-peer marketplace
- Exchange their Pi Crypto tokens for fiat
- Get profits after their coin’s value increases
At the start of this year, the team launched the Pi testnet, where users took part in projects, gave propositions of creative app ideas, and converse with their fellow users.
Pi Network Price Prediction
Some Crypto enthusiasts have started predicting the Pi tokens’ market value. Pi Crypto might start low just like other tokens did, but expectations are that massive gains will come.
The release date of the Pi Cryptocurrency tokens remains unknown. Other than its listing, the progress of the testing phase will determine the date.
The town’s price is presumably around 0.1. Trading of Pi tokens is currently impossible because it is the testing period, but users can commence mining and time the announcement of its release.
The Pi token has three phases, and two are complete. As we are still in the testing stages, users have to wait until a release date gets announced to make purchases and trade the coin.
After the third phase, the decentralization process would be complete, and users would finally have 100% access to their tokens. Some users have already mined and are accumulating their coins, hoping to make gains when the third phase goes live.