| Pi is dedicated to helping everyday people capture more economic value that today goes to banks, technology giants (e.g., Facebook, Amazon), and other intermediaries. Pi depends on the collective contributions of its members. If you are looking for quick money, look elsewhere. |
Is this real? Is Pi a scam?
Pi is not a scam. It is a genuine effort by a team of Stanford graduates to give everyday people greater access to cryptocurrency. Pi’s core team is led by two Stanford PhDs and one Stanford MBA, all of whom helped build Stanford’s blockchain community. We cannot guarantee that the project will succeed. However, we do promise to work our hardest to make our shared dreams a reality, while maintaining the highest standards of integrity. You can learn more about us in the “Core Team” page in the main menu of the app.
How Pi works?
Pi Network is a new cryptocurrency for and by everyday people that you can “mine” (or earn) from your phone.
Cryptocurrencies are a new form of digital money that is maintained and secured by a community, instead of by governments or banks. Today, you can mine (or earn) Pi by helping to secure the currency and by growing Pi’s trusted network. While most cryptocurrencies (like Bitcoin) have been very hard for everyday people to use and access, Pi puts the power of cryptocurrency into the palm of your hand.
Pi was launched on 1432019 on Pi day by three Stanford grads with PhDs:
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| From left to right) Vince McPhilip M.B.A. ’18, Chengdiao Fan Ph.D. ’14 and Nicolas Kokkalis Ph.D. ’13 cofounded the cryptocurrency network Pi Network with visiting student researcher Aurélien Schiltz. (Photo: Benjamin Mattingly |
To start gaining Pi you must have a referral username provided by user and then make an account by installing the app to your smartphone and continue to open the app every 24 hours, but why?
While using Pi app and increasing your network by Inviting others, you are helping Pi build a strong network to authenticate users and do transactions, that is why you have to open the app once every 24 hours to authenticate actions on your network. This is why you have to be invited by someone to make an account and gain more Pi per hour by inviting more people.
Is my phone mining Pi?
You can gain Pi per hour if you are active. PI use SCP for mining which can be better understood by reading in detail on PI White Paper.
Do I need to leave the app open to mine? Does the app drain my battery or data?
You do not need to leave the app open to mine. Pi does not affect your phone’s performance, drain your battery, or use your network data. Once you hit the lightning button, you can even close the app and you will continue to mine Pi. So how can you mine a cryptocurrency without draining your battery or data? Instead of burning energy as proof of work cryptocurrencies like Bitcoin do, Pi secures its ledger when members vouch for each other as trustworthy.
This forms a network of interlocking “security circles” that determines who can execute transactions. This novel approach allows crypto mining on your phone by leveraging your existing social connections, with no financial cost, no battery drain, and a light footprint on the planet. Read the technical section in our White paper for a more accurate and detailed explanation.
