The Pi Network has come a long way since its launch in 2019. The blockchain digital platform was designed to give everyday people a feel of the cryptocurrency experience, and it has been a success. However, ever since the pioneers came up with a Global Consensus Value of $314 159 for a Pi coin, there have been some uncomfortable feelings among the cryptocurrency enthusiasts whether it is realistic.
The founders of the Pi Network firmly believe in the worth of Pi Coin, a cryptocurrency. As a result, they decided that the value of one Pi coin should be $314 159. Its value is predicated on the notion that the Pioneers are committed to ensuring that the Pi Network’s potential as a key participant in the cryptocurrency industry is realized.
The rationale behind the Pi Network Pioneers not wanting to give up on the Global Consensus value of $314 159 per one Pi coin is based on several factors.
Reasons Why Pioneers still insist on the Global Consensus Value (GCV) of $314 159 per $Pi
1. Democratically, there are far more proponents of this action than proponents of the opposite.
2. Pioneers want to receive enormous value for their slog after years of mining.
3. Pi Network is typically able to achieve any value for its coin because of its substantial user base.
4. Pi Network, a decentralized application, has given the people real power, giving them the impression that it will be simple to realize this laudable dream.
5. Pioneers desired a high price for Pi Coin because they thought this would be their big breakthrough and make them as rich as Elon Musk.
What is Pi Network?
Pi Network is a cryptocurrency project that allows users to perform mining operations through their smartphones. The platform was designed to onboard anyone into the crypto space, regardless of their familiarity with digital assets.
Pi Network is the brainchild of Stanford University graduates – Nicolas Kokkalis, Chengdiao Fan, Aurélien Schiltz, and Vince McPhillips. The team started developing the project in 2018, but they released the whitepaper and launched the application a year later, on March 14, 2019.
Miners on the Pi Network are rewarded with the Pi coin, which the project’s creators claim will gain value once the protocol launches to mainnet.
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