Cryptocurrency is one of the most popular topics on the internet. With many new coins available in the cryptocurrency market, it’s difficult to decide which coins are best for investment. Pi Network is an emerging cryptocurrency that has a lot of potential for growth and development. Learn more about Pi Network by reading our blog Pi Network Future Prediction.
What Is Pi Network And How Does it Work?
Pi Network is an app that enables anyone to mine crypto on their phone without draining the battery. The company claims it will revolutionize mining and make investing easier for everyone.
The Pi Network is a unique project where every users have to download the mobile app called “PI Network“, and they make sure they’re not to be robots by signing in every day, Everyday users who have downloaded the mobile app are referred to as “Pioneers”.
The Pi network uses the Stellar Consensus Protocol(SCP) and Federated Byzantine Agreement(FBA) as its protocol. Based on these, different nodes on this decentralized system exchange messages to come to an agreement about what next block should be. A consensus algorithm is used to determine the next block. The voting process uses multiple rounds of voting, and each node has different nodes in its circle so it can convince other nodes that trust them likewise.
Roles Of Users On The Pi Network
- Pioneer – Pioneers are ordinary miners, The first thing they do when they log on to the platform is open up their app and tap the mining symbol.
- Contributor – A contributor is someone who has completed his/her 3 earning sessions as a Pioneer and can add other members to their security circle. Security Circle is a term used to describe the members that make up an earning team. You choose your own circle, but usually there are 3-5 people in it and you all must trust each other.
- Ambassador – A user becomes an ambassador by inviting people to join the PI Network, Ambassadors earn up 25% more mining rate for each person they invite.
- Node – A node is a computer that helps run the blockchain of our Pi network.
PI Netwok Roadmap/Deployment plan
Phase 1 – Design, Distribution, Trust Graph Bootstrap
The Pi Core team is working hard to make the user experience as seamless and enjoyable for all its stakeholders.
Pi coins are minted here and users have their coins stored in the “PI Network” mobile app. All account holder balances will be minted at genesis block of the mainnet, That way early pioneers can retain coins.
Phase 2 – Testnet
The Pi node software is launched on the Testnet, where a team of developers will host several nodes for testing. This test network runs alongside our emulator and results are compared periodically so that we can identify any issues before they spread across both networks
Phase 3 – Mainnet
Pi is now at the final phase of its development. Pi would be a decentralized and open source platform where developers can make changes to update software. At this stage, Pi will connect to exchanges so that it can be exchanged for other cryptocurrencies and only verified account holders are moved on Mainnet.
Pi Network Update For Pi Browser & Pi Wallet
As Pi nears its Mainnet launch date, there have been some improvements on the network including:
- Pi Browser
- Pi Wallet
The Pi browser is a mobile web browser that brings the decentralized world to you. It supports any Web2.0 application and enables people to browse, interact with and transact in DApps easily through friendly user experience.
The Pi wallet can generate wallets on multiple blockchains and hold different crypto assets e.g., Bitcoin, Cardano or Ethereum e.t.c. using the passphrase but initially we are focusing only on pi assets . Currently it is connected to Testnet blockchain so that all transactions carried out here would be considered as “Test-Pi” for testing purposes alone until its main net version comes into existence.
Pi Coin Price Prediction For 2021, 2022, 2023, 2025 and 2030
Pi coin has not been listed anywhere cryptocurrency exchange yet, which means that Pi coin price prediction can’t be analyzed from technical or fundamental perspective.
The first thing they going to do is give it an arbitrary price. Usually, this may start with $$0.00001. Almost all Cryptocurrencies started at this price, Once people start buying and investing more into Pi Coin it’s value will increase over time.
Pi coin is a great cryptocurrency that has the potential to reach $10 or higher if its user base continue growing. Mining is free and easy-to-use, so download PI Network Mobile App now to start mining Pi Coins for free.
Support Channels And Public Opinion
Furthermore, users can reach the admins for support through these channels:
When will the Pi cryptocurrency enter the cryptocurrency market?
The Pi cryptocurrency will launch during phase 3 of the project. The date or release has not been announced yet, but but we can expect them as soon as the Mainnet goes live.
Are early pioneers still earning at 0.8Pi/hr?
No, Once the halving occurs, every user will be earning at a new rate.
Can I mine from more than one device?
Every user is entitled to one account. Even if you want use another device, it has be the same account.
Will the Testnet remain after the Mainnet is launched?
Yes, developers will be able to test their nodes on the Testnet Blockchain even after Pi launches its Mainnet.
The Pi Coin was created to give everyday people the opportunity of mining coins from their mobile phones. There’s no telling how valuable this will be once it has launched, and millions have downloaded the app in case they get lucky. And that’s all I have for you in this Pi Coin Price Prediction. Now, I’d love to hear from you.