Pi Network is a digital currency project that aims to make cryptocurrency mining accessible, as the centralisation of first-generation currencies such as bitcoin has put them out of reach of mainstream users. pi network claims to be the first and only digital currency that can be mined on your phone. Pi is a new name among cryptocurrencies around the world. It is a cryptocurrency that ordinary people can mine using their smartphones.
According to the crypto-auditor, cryptocurrencies are digital money that does not need a government to regulate it. Moreover, no bank or financial institution backs their funds. Pi Network is a cryptocurrency and smart contract mining application that does not require high energy costs. The team has developed a simple application that is designed to mine a new token as well as store it.
Pi Network has been launched by a group of Stanford PhD students and looks set to be as good as or better than Bitcoin. There is a diagram of the payment path in the SDK that indicates a high level of centralisation within the Pi Network. There is no safe prediction of the price of the Pi Network at this time because it is not listed on any exchange. The Pi application has a great platform for developers that includes the Pi SDK that allows developers to build applications that integrate with the Pi currency and the Pi platform.
I mean yes Pi is a scheme and you can prove that it is a scheme because of your accurate research and understanding about it. However, it is worth noting that this mining process is possibly bogus as Pi does not have a blockchain network. It is still very difficult to determine the number of Pi coins that will be in existence as the project is still in the testing network and there is no clear launch date for the Pi network. The total supply cap of Pi coins will only be determined when it officially launches its main network, validating user accounts and migrating mined coins to the main network.
Until then, Pi remains a worthless project, except for collecting user information and using it for marketing purposes. Holders of Pi will be able to convert it into "real money" when they buy goods and services on the Pi market or exchange it for fiat currency. The Pi Network mines cryptocurrencies through your phone without the need for a battery or data and only requires an internet connection to mine. However, I would modify the title to read: "Will the Pi Network ever provide value to its users? Probably not.
I was all for it until recently, when it was revealed that the core network would not happen until 100 million (whatever) pioneers were reached. Finally, when Pi enters its 3rd and final phase - Mainnet, only accounts validated as belonging to real distinct individuals will be honoured. As Pi cannot yet be traded, it is currently worthless, said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. Pi Network is currently in the second phase of the project, but it is not yet known when the third phase will be launched.