Pi Coin is the native coin of the Pi Network, a cryptocurrency project developed by Nicolas Kokkalis and Chengdiao Fan. The duo successfully made cryptocurrency accessible to the common man and can be easily mined on smartphones.
Pi Network has not yet completely released its open network, but until then, its token is only listed as an IOU on exchanges and cannot be used to make deposits or withdrawals.
However, the first cryptocurrency in the world, Bitcoin, was introduced in 2009 and has held that title ever since. Throughout the years, Bitcoin has remained the best-performing cryptocurrency asset and is accepted wherever cryptocurrencies are permitted.
Despite the fact that the price of bitcoin has drastically dropped since 2022 and is currently recovering, Up to this point, it has continued to be the most valuable digital asset.
Here are the differences
1. Pi is completely free while Bitcoin presently require subscription.
2. Bitcoin requires expensive mining gadgets while Pi requires on a smartphone.
3. Pi can be accessed by everyone who so desire while Bitcoin can not be accessed by everyone due to its cost mining or purchase.
4. Due to the requirement of six minimum confirmations, Bitcoin transactions are quite slow, but Pi Coin transfers happen very quickly.
5. Bitcoin demands advanced computer science expertise, whereas Pi Network doesn’t.
In addition to the ones mentioned above, there are yet other differences that need to be examined separately.
Energy consumption
Since miners utilize computers to solve puzzles on the blockchain for Bitcoin, mining demands a significant amount of energy throughout the entire network. To mine Bitcoin up to this point, miners have used desktop and residential computers.
Pi Network is not only mined on desktop computers but also on cellphones because it is simple to use and uses little energy.
Development Team
The group of programmers who created Bitcoin remains unknown. The person who invented Bitcoin is frequently claimed to be a quite anonymous figure by the name of Satoshi Nakamoto. Many people today claim to be Satoshi Nakamoto, one of whom is currently on trial.
Compared to Pi Network, this is different. Pi Network was established by two Stanford University researchers, Nicolas Kokkalis and Chengdiao Fan. With the intention of creating a digital currency for common people, they started working on it in 2018. On March 14, 2019, they made a white paper and the Pi Network application available (Pi Day).
Choice of investment
Pi Network is a better investment option overall than Bitcoin because you can start mining for free with just your phone and no money down, compared to paying over $17,000 for just one Bitcoin.
Conclusion
Pi Network has a better possibility of making you wealthy this year than Bitcoin, which may have lost value after you spent a lot of money on it.
