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Six verifiable facts about Pi Network every newbie should be aware of

When compared to crypto-industry giants like Bitcoin and Ethereum, the Pi network is comparatively new. A group of Stanford graduates officially launched the blockchain technology on March 14, 2019.

The Pi network seeks to develop a platform for smart contracts that is user-secured and managed. The Pi utility token will enable the protocol’s goal of creating the most inclusive peer-to-peer (P2P) marketplace ever created.

The network is forced to concentrate on really decentralizing digital assets into the most important digital asset network, Bitcoin, by the entrance of wealthy firms. Only individuals and organizations with significant financial resources can validate transactions in exchange for the network’s tokens because of the relative mining difficulty of the Bitcoin protocol. The Pi network seeks to create a robust, smartphone-friendly protocol that can be mined.

Below is the list of facts about Pi Network

1. With the help of Pi Network, everyone will be able to hold cryptocurrency.

2. This is accomplished by making it possible for anyone to mine the Pi coin on a mobile device without having an adverse effect on the battery life.

3. Pi is safer and more advanced than the PoW consensus technique because it makes advantage of Stellar’s FBA mechanism.

4. Users’ ability to mine depends on the ecosystem’s expansion because the network uses halving to preserve the value of the Pi coin.

5. Phase 3 of the network is on track, and we anticipate starting up again in 2023.

6. Pi is not yet available on any cryptocurrency exchange websites. This makes it worth $0 as of the time of publication.

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.

Rebecca Ahoame

Written by Rebecca Ahoame

Rebecca is a Student of the Federal University Lafia, Nasarawa State, North-Central Nigeria. She has passion for writing and research. Rebecca writes for NewsWay on Business and Finance.

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