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Pi Network
$31.27
-1.57%
  • Rank #N/A
  • Market Cap 0.00% -
  • 24H Spot Volume -55.30% $129,455.44
  • 24H Volume / Market Cap -
  • Circulating Supply -
  • Total Supply -
  • Max Supply -
  • Fully Diluted Valuation -
  • API ID pi-network copy duigou
  • Project Start Date Dec, 2021
  • Contracts & Explorer(s) https://minepi.com/blockexplorer
  • Websites Website
  • Links
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About PI Roadmap & Milestones
Pi Network is a decentralized network based on the Stellar consensus protocol that allows users to use their mobile devices to validate and earn validation rewards.

Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures not only economic transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.

The Pi Core Team set out to find a way that would allow everyday people to mine (or earn cryptocurrency rewards for validating transactions on a distributed record of transactions). As a refresher, one of the major challenges that arises with maintaining a distributed record of transactions is ensuring that updates to this open record are not fraudulent. While Bitcoin’s process for updating its record is proven (burning energy / money to prove trustworthiness), it is not very user (or planet!) friendly. For Pi, we introduced the additional design requirement of employing a consensus algorithm that would also be extremely user friendly and ideally enable mining on personal computers and mobile phones.

Pi’s consensus algorithm builds atop SCP. SCP has been formally proven and is currently implemented within the Stellar Network. Unlike Stellar Network consisting mostly of companies and institutions (e.g., IBM) as nodes, Pi intends to allow devices of individuals to contribute on the protocol level and get rewarded, including mobile phones, laptops and computers. Below is an introduction on how Pi applies SCP to enabling mining by individuals.

There are four roles Pi users can play:

  • Pi miners. Namely: Pioneer. A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g., make a payment in Pi to another Pioneer).
  • Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.
  • Ambassador. A user of the Pi mobile app who is introducing other users into Pi network.
  • Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer. The Pi node software is the software that runs the core SCP algorithm, taking into account the trust graph information provided by the Contributors.
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