pi network price today : $50.18 source coingecko
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Pi network price
pi network price today : $52.18
What is Pi Network?
– Alex, like everyone else in the world, had heard a lot of talk about blockchain and cryptocurrencies.
As a techie, he started researching blockchain and cryptocurrencies and understood that blockchain is a distributed digital database that makes it much easier to record transactions and manage assets on a corporate network. On the other hand, cryptocurrency is a digital currency that acts as a medium of exchange on a blockchain network. It is not backed by any central authority such as a government or a bank.
But what fascinated him was how people contribute to blockchain. So he decided to ask his friend Sarah, who is a blockchain expert and knows how people actually participate in blockchain. Sarah answered that it was done through crypto mining. Cryptocurrency mining is the process by which specialized computers, often called nodes or mining rigs, validate blockchain transactions for a specific cryptocurrency and receive mining payments in return.
When Alex heard this, he asked if he too can join this network and participate in the crypto mining process. Sarah said that it is a bit difficult as crypto mining requires a huge setup like high-end processors, GPUs, powerful graphics cards, lots of electricity and air conditioning. And he needs a huge amount of land to set up all this.
Alex got frustrated, and then Sarah said: “But there is a network that can be mined without any effort. It is the Pi Network.” Alex got curious and asked what the Pi Network is and how it can be different from other cryptocurrencies.
Sarah explained that the Pi Network is a digital currency initiative that seeks to make cryptocurrency mining accessible. Since first-generation currencies like Bitcoin have become too centralized for many everyday users. Let us understand this in detail.
History of Pi Network
The Pi network first came to the market in 2019. It has been in testing mode since then. Although it has not yet launched, it still offers mining of its coins. The founder of Pi network is Nicholas Kokkalis.
How does Pi network work?
Here is how it works: To mine it, users must first secure the currency. They also need to expand their network by recommending it to others. All you have to do is log in once a day and click a button to receive digital cash. You just log in and press the mining button.
Pi network mainnet Lunch date
Since this currency has not yet been exchanged, it has no value. Increase your level by inviting more people to the site. This allows them to accumulate more digital cash every day, depreciation programs, and multi-level marketing. This is a common model. .
This usually happens when you reach a certain goal. When Pi reached 100,000 users, the mining rate dropped to 1.6 per hour, then 0.4 per hour, then 0.2 per hour and finally 0.2 per hour when it reached 10 million users. This will continue until 1 billion users are reached.
When Alex found out about this completely new cryptocurrency transformation on the Pi network, he was sure that he definitely wanted to get his hands on it. With branding based on the number Pi, the first phase of the project launched on Pi Day, March 14, 2019 with a free Pi mining app. By June 2019, the network had over 100,000 active users.
A year later when Phase 2 began, there were over 3.5 million users. In May 2020, the app began running ads to raise funds for the project. On March 15, 2022, Pi Network announced that its user base had grown to 33 million from 14 million in March 2021. It is expected to reach 50 million in 2024 from 33 million.
How to download pi network app
Friends, first of all you have to download pi network app from google play store, after this you have to register in the app with mobile number or Gmail ID, you have to click on the mining button once in 24 hours, by clicking, mining of pi will start in your phone for 24 hours, if you want to speed up its mining, then you have to share your referral link with your friends, the more your referrals get added and start mining, the faster your mining rate will be
How to bring Pi coin to mainnet wallet
In Pi mainnet wallet dashboard, you will see 3 types of balance which will be like this
Unverified balance
2 transble
3 migrated
Unverified balance contains the pi coin that you receive from your referral team through referral link, this pi coin starts appearing in your transble balance when the KYC of your referral team is completed. is
transble
Secondly, transble will be visible in your mainnet wallet dashboard. For this, you will have to complete the mainnet checklist. There are 9 steps in the mainnet checklist which you have to complete.
Pi Migrated to Wallet
Friends, when you complete your 9 steps, then based on your lockup settings, your Pi gets migrated and after the completion of the lockup setting time, it goes to your wallet address. After going to the wallet address, you can send your Pi to another person and after the mainnet opens, you can sell it.