An Overview
Pi Network (PI) cryptocurrency is a digital currency that one can mine on smartphones. It was launched as a beta version on Pi day, March 14, 2019, by a professional team of PhD graduates from the very known Stanford University. It is a perfect option for those who have less understanding of the term cryptocurrency and tries to mine crypto. It quickly gained the interest of users who desire to be a part of a new social crypto network and Right now around 14 million people are mining on their smartphones and that's cool. Though the future of PI Cryptocurrency is not that clear, most research experts are very much relying on PI Network fate, as it has a great scope to grow in the world of crypto.How Pi Mining Work and worth in Future?
The Pi developer's main idea was to create a user-friendly network, where people can form chains and mine coins at a minimal cost with a limited battery drain, using a mobile application as we all know that Bitcoin mining still demands huge expenses and power inputs, which is harmful to ecology.Pi’s consensus algorithm builds on the top of Stellar Consensus Protocol (SCP). SCP has been formally proven [Mazieres 2015] and is currently implemented within the Stellar Network. Pi intends to permit devices of people to contribute on the protocol level and obtain rewards, including mobile phones, laptops and computers. Below is an introduction to how Pi applies SCP to enabling mining by individuals.
There are four roles Pi users can play, as Pi miners. Mainly:
1. Pioneer: This is often the initial level for all users and a contributor using the Pi mobile app.
2. Contributor: To unlock this level, it's enough to mine cryptocurrency for 3 days;
3. Ambassador: This rank is for users who invite other participants to hitch the Pi Network.
4. Node: A user who is a pioneer, and is also running the Pi node software on their desktop or laptop computer.
Although there are no exact price predictions of PI Network, some experts suggest that PI will cost around $0.16 after it list on an exchange. In starting we will predict it'll occupy an equivalent level. A great deal will depend on the number of clients and trades accepting or excluding PI coins through the exchange. If the bull case could see the price of Pi reach $1 if it launches by the end of 2021, according to crypto exchange Changelly. Over the longer term, the price could rise to $5 by 2025, Changelly predicts by the experts.
How To Mine The Coin!!
Step 1. Download Pi Network app from here.
Step 2. Set up with phone number or Facebook.
Step 3. Set up your Password.
Step 4. Set up your Account with your Full Name(as on your identity proof as it should be correct to get your coin in wallet) and Country your are from.
Step 5. Enter Invitation Code (required as it is a secure network)
. Use the code used by your friend if any or use my code(chaudhary9411).
Congratulations You Have Signed Up!!. Then tap the lightning icon on the right to start mining and increase your pi per hour by adding more member to ur network.
Image Source: Pi Website
Why to become a part of mining ?
○ A user-friendly, user who never know Crypto Currency can mine very easily.
○ The number of mined coins does not depend on the configuration of your device, the mining process of a coin does not require a high configuration device.
○ Users who contributed towards development by mining coin gets a reward.
