Since Pi Coin has not yet been formally launched on any cryptocurrency platforms, there are no historical performance data available. If we calculate Pi Coin’s true value, it is essentially worthless especially as the Core Team warned pioneers to disregard the listing of PiCoin.
The price of Pi is $51.0 as of this writing, and its market capitalization is currently worthless. Because the Pi network has not yet disclosed the quantity of coins in circulation and because the maximum supply is unknown, its circulating supply is similarly zero in this month of March 2023.
The Pi network currently allows users to mine cryptocurrency thanks to its highly accessible blockchain technology and strong incentive system. But, as of now, Pi Coin, which has no value, is used to compensate the miners.
What is Pi Network?
Pi Network is a digital currency project that aims to keep cryptocurrency mining accessible, as the centralisation of first-generation currencies like bitcoin (BTC) has put mining them beyond the reach of many everyday users.
The Pi Network, developed by a team of Stanford University graduates, enables users to mine PI cryptocurrency coins using desktop and mobile phone apps, validating transactions on a distributed record.
Unlike nodes on networks such as Bitcoin that use proof-of-work (PoW) protocols, Pi nodes use an algorithm based on the Stellar Consensus Protocol (SCP). Pi Nodes validate transactions on a distributed ledger and reach a consensus on the order of new transactions that the ledger records.
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