Pi Network is a cryptocurrency project that aims to enable users to mine and earn cryptocurrency on their mobile devices with minimal resources. Launched in 2019 by a team of Stanford graduates, Pi Network seeks to make cryptocurrency accessible to a broader audience, especially for those who may not have the technical knowledge or resources to participate in traditional cryptocurrency mining. Users can mine Pi coins by simply downloading the app, creating an account, and tapping a button once every 24 hours to initiate the mining process. The network relies on a consensus mechanism called Stellar Consensus Protocol, allowing users to validate transactions and secure the network without a significant energy cost. Pi Network is still in its development phase, with plans for a full public launch and trading of its cryptocurrency on exchanges. The project’s goal is to build a community-driven ecosystem and platform where users can exchange goods and services using Pi coins.
Pi Network experienced a dramatic rise and subsequent fall, its value dropping from $2.98 to $0.5677, leading to significant market cap loss. Initial optimism around Pi Network faded due to…
The Pi Network's cryptocurrency value dropped over 50% from its peak of $2.98 in February, driven by fears of oversupply and lack of a Binance listing. Concerns arose from a…