Will the Pi Cryptocurrency Be Worth it?

For a while, the Pi Network has become the talk of the community, and for good reason. There are a lot of questions about Pi Network and Pi Cryptocurrency.

We’re going to attempt to answer some of these questions and offer what you could call an opinion.

The aim of the Pi Network is to make mining accessible to everyone who has a smartphone, and they do this in a unique way. The traditional crypto mining method consumes a lot of energy, meanwhile, Pi Network achieves the same thing without consuming as much energy, with a smartphone, no battery drain, light footprint, and no financial cost.

Pi uses what is known as the stellar consensus protocol, allowing the network users to validate transactions and reach a consensus on new transaction orders recorded on the distributed ledger.

The network structure built between trusted people helps to mitigate fraud since transactions will only be validated if the network users approve.

Chengdiao Fan and Nicolas Kokkalis are both Co-founders of Pi, with PhDs from Standford. They began working on the Pi Network concept in 2019 and by 2020, they already had one million active users.

So far, Pi has held a hackathon and crossed 29 million users, but they have not been listed by any exchanges and are not available to trade.

Pi Network Cryptocurrency will not be available for trade, which means the Pi coin cannot be bought or sold. However, buying and selling of things will happen on Pi Networks P2P Marketplace. This makes the Pi Usage quite limited.

When it comes to Pi supply, the mining rate is halved for every milestone that is achieved, and will eventually get to zero when there a billion users. The halving is put in place to increase the token’s value and promote scarcity of the coin.

We think what is most commendable about the Pi Network is how they have managed to capture the imagination of the masses – that everyone can have access to cryptocurrency.

It is tricky to make any speculations now because the Pi cryptocurrency has not been listed on any exchange platforms. Several speculations exist, but without all the correct data, it is problematic to make any such projections.

Some accuse Pi Network of deploying a multi-level marketing scheme because of the different roles that exist, from the Pioneers who download the app and sign in daily, to the ambassadors who refer others to the Pi Network, and the Nodes who use the app and also using their computer, run node software.

So, most are more concerned about how legitimate the project is because of the supposed lack of transparency.

To jump on the Pi train, you will need to be invited by someone else, download the Pi Network app and begin to mine

This was not written to give any financial advice, and you will need to make your own research to arrive at your final conclusions.

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