Hi Friends,
Money has continuously evolved and changed its form.
Today, digital currencies are what suits the requirements of the digital world.
Digital currencies focus on decentralizing the currency to make the privacy-oriented transactions.
Cryptocurrency is a digital currency that can be used to transfer assets from person to person in a decentralized way.
They are not regulated by any banks or any other central authorities.
These coins are all digital and have no physical presence.
Cryptocurrencies can be bought from exchanges and stored in wallets,exchange wallets,or hardware storage disk.
They are also distributed across the whole network,
so even if one part fails no data is lost. And interestingly,
Pi coin is the first & only cryptocurrency that you can mine on your phone.
And it is FREE, even no credit card required.
Pi Coin & Pi Network
"Pi Network" is a smart platform that allows users to earn Pi cryptocurrency from any mobile device.
Beta version of the app was launched in March 2019 by three individuals from Stanford.
And two of them hold PhDs. They aim to create a secure, immutable,
non-counterfeit and interoperable source of digital money.
They are going to do this by using distributed ledger technology and making use of the stellar consensus protocol.
Download Pi Network App: Android | iOS, you just need search PI, PI NETWORK, MINEPI
Pi Network is secured and operated by its community,i.e. its users and their joint engagement.
Pi is mined through proof of consensus, which is basically where your phone communicates with a bunch of nodes,
and the nodes collectively decide on what the solution to the next block is.
Whereas in Bitcoin, the solution is already set and whoever gets it first gets the reward.
How to "mine" Pi Coin?
There are simple steps to connect to a Pi network and start mining the cryptocurrency – Pi Coin.
First, you download their app and specify the registration method: Facebook or phone number.
You will also be required to fill in an invitation code (cakzxd) to join the network as it relies on secure circles.
Each user receives one "Pi" per account upon registration.
To mine, you just have to open the app and click on the 'mine' button every 24-hours to prove that you are a credible contributor to the network.
The app doesn't need to run in the background, so you can close it and open it after 24-hours and click on the button to mine.
There is currently no way to invest in shares but more options will hopefully become available as the app gains more popularity.
How is it different from other cryptocurrency?
Some of the key differences between Pi Network and other blockchains are the fact that rewards are paid out daily.
They are not paid out per block, and they are also spread across the entire network so as long as you interact with the network,
you will receive a payout at the end of the day.
The white paper discusses the availability of free transactions depending on network congestion.
Once the network becomes heavily congested, then miners will be able to sort through transactions based on a fee system with higher fees being dealt with first and everybody else having to wait based on the amount of fee they want to pay.
At present, there is no fixed supply and the total supply is unknown.
Once the project officially launches, the total supply will be worked out.
The tokens that people are earning right now are acting as a faucet and are a visual representation of tokens that will be created in the Genesis block when the main net launches.
Pi network is rapidly expanding and as of right now it has more than 7millions engaged users.
It could be the next big thing for all we know. It is free to join so no one stands anything to lose by downloading the app.
But it is highly recommended to do your research before you decide to delve further.
Today, the price of Bitcoin has exceeded $10,000, but in 2009, 10,000 Bitcoin was only equivalent to 2 pizzas.
Pi's situation today is the same as Bitcoin in 2009. If you missed Bitcoin earlier, please don't miss this opportunity again.
You can also find the Pi network on our site.
https://www.pinetworkapp.org
or
https://minepi.com/cakzxd
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