Cryptocurrency has become one of the most popular investments in the world. Its value has skyrocketed over the past few years, with many people looking to take advantage of the new digital asset. One of the biggest emerging cryptocurrencies is Pi Network.
In this ultimate guide, we’ll take a deep dive into Pi Network and its associated token, Pi. We’ll discuss what Pi Network is, how it works, the prospects for mining and investing, the upcoming launch of Pi 2.0 and why it’s something that everyone should know about in 2021.
What is Pi Network and Pi?
Pi Network is a mobile-only cryptocurrency that was created by a group of Stanford graduates. The idea behind Pi is to make cryptocurrency more accessible to the everyday user. Pi is a digital asset that is different from other currencies as it doesn’t require any special hardware or software to mine and it has a unique consensus algorithm based on a security circle.
The Pi Network app gives users the ability to interact with the Pi cryptocurrency. Users can earn and spend Pi, with the app providing a user-friendly interface for sending and receiving payments, as well as tracking their balance and transaction history.
How Does Pi Network Work?
When it first launched, the Pi Network app implemented a «human miner» approach, where users could earn Pi for contributing to the growth and security of the network. Over time, the app has been further developed, with newer features now available for the mining process.
Mining Pi Network requires all users to verify their account with their phone number. It uses the «security circle» feature to make sure that trust is maintained within the community. As a proof-of-identity protocol, Pi’s security circle provides a more secure and efficient way to verify users’ accounts.
Once verified, users can earn Pi simply by opening the app once a day, which is known as «mining». The amounts rewarded are based on the size of the security circle and the activity level of the user. Users can also participate in «referendum» surveys, where they can vote on various topics that are important to the growth of the network.
The Prospects for Mining and Investing
The value of Pi is expected to rise over time, encouraging more people to mine and invest. While the long-term value proposition of Pi Network is still unknown, the chances for profitability in the short term look promising.
As of early 2021, there are more than 10,000,000 users that are participating in the mining process. This is a testament to the growth of the network and its potential. Accordingly, the developers of Pi Network have made it clear that they are committed to making Pi as accessible as possible.
In the meantime, users can now also invest in Pi. The app has recently been updated to include a «Crypto Market» feature. Here, users can buy, sell and trade other popular cryptocurrencies such as Bitcoin and Ethereum. Additionally, the app has also integrated a «Portfolio» feature, which allows users to track the performance of their Pi investments.
Pi 2.0 and Future Plans for the Network
Pi Network is in the process of launching Pi 2.0, which will bring some major updates including new features for earning and storing Pi, as well as helping to secure the network. They are also working on making the app even more user-friendly and optimized for onboarding new users.
The developers of Pi Network also have many other plans for the future. They are working on introducing a «Smart Wallet», which will provide easier and more secure ways of storing and transacting with Pi. Additionally, they are also looking at the potential of integrating machine learning and artificial intelligence into the network to enhance security and usability.
Why Everyone Should Know About Pi Network
With all of the features and potential for growth, it is clear that Pi Network should be of interest to anyone looking to get started with cryptocurrencies in 2021. Whether you are a novice or an experienced investor, Pi Network provides an easy and safe way to earn, invest and interact with the digital asset.
Furthermore, the continued development of the network and upcoming launch of Pi 2.0 signal a promising future for the currency. This makes it an exciting and potentially lucrative investment for people looking to get ahead in the world of cryptocurrency.
In conclusion, Pi Network is a mobile-only cryptocurrency that allows users to easily mine, send and receive payments. It is a unique digital asset that doesn’t require any special specialized hardware or software to mine and invest. With the upcoming launch of Pi 2.0 and continued development, Pi Network is sure to be an exciting investment opportunity for anyone looking to learn more about cryptocurrencies in 2021.