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Pi cryptocurrency – the future of mobile crypto mining? 

Pi kriptovaluta u mobilnom telefonu

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The Pi cryptocurrency is one of the new cryptocurrencies, which stands out for its approach of distributing crypto mining through a mobile application. It was founded in 2019 by a team of former engineers from Stanford, led by Dr. Nicolas Kokkalis. The idea of Pi cryptocurrency is to allow users to mine cryptocurrency using their mobile devices, without the need for computers or special equipment. 


How was the Pi Coin idea “coined”? 

The idea for the Pi cryptocurrency came from the founder of the project, Dr. Nicolas Kokkalis and his team. Kokkalis was influenced by the problems they saw with existing cryptocurrencies like Bitcoin, including the high energy requirements of mining and the lack of affordability for average users. Kokkalis and his team decided to focus on creating a cryptocurrency that would be easier to mine and use more affordable token distribution mechanisms. 

The main difference between Pi and other cryptocurrencies such as Bitcoin or Ethereum is that it does not use a Proof of Work (PoW) or Proof of Stake (PoS) consensus algorithm. Instead, it uses a new consensus algorithm called “Proof of Contribution” (PoC). This algorithm rewards users for their contributions to the network, including time spent on the app and referrals from other users. 


How does “Proof of Contribution” work in the Pi Network? 

The main factor influencing user contribution is the time they spend on the Pi Network mobile app. The more time users spend on the app, the greater their contribution to the network. Users can also contribute to the network by inviting new users to the Pi Network. When a new user registers through a referral link, the user who invited him receives a certain bonus or reward. 


Network security is also a factor taken into account with Proof of Contribution. Users who participate in maintaining network security and preventing abuse also contribute. Based on all these factors, each user of the Pi Network receives a certain number of Pi tokens as a reward for their contribution to the network. This approach allows for a fairer distribution of tokens and encourages user engagement, making the Pi Network more sustainable and inclusive. 





Pi Network 

Pi Network is the mobile application that allows users to mine Pi cryptocurrency through their mobile devices. This application is designed to enable the wide distribution of Pi tokens and involve as many users as possible in building the network. 


Pi Network users can download the app, register and start mining Pi tokens. Currently, the Pi Network is in the testing phase, so Pi tokens do not yet have a large market value. However, the founders of the project hope that Pi will become a useful cryptocurrency in the future, which will be widely accepted and usable around the world. 


What is Pi Coin? 

Pi Coin is a cryptocurrency that is mined through the Pi Network  app. The basic idea of Pi Coin is to allow users to mine cryptocurrency using their mobile devices, without the need for computers or special equipment. Users can easily earn Pi Coins by mining through the Pi Network  app. Mining happens automatically while users are using the app, and they are rewarded based on their contribution to the network and time spent on the app. 


How can I download my Pi? 

Users can download the Pi Network mobile app from Google Play Store or Apple App Store, register and start mining Pi Coin. 


Is Pi Coin a Scam? 

Pi Coin is not a scam. However, it is important to note that Pi Coins currently have no market value and that the project is still going through the development phase, so users should be careful and informed about the risks and possibilities of the project. 





Cryptocurrency Pi – plans for the future 

New users 

Pi Network continues to work to attract new users and grow its community. This includes proactively engaging with existing users to encourage them to invite new members, as well as marketing efforts aimed at attracting new users. 


Integration with other technologies 

Possibilities of integration with other technologies are being explored to improve functionality and user experience. This includes integration with different applications or platforms, as well as establishing collaborations with other technology companies. 


Development of new products and services 

Pi Network continues to develop new products and services that will enrich the Pi cryptocurrency ecosystem. This includes the development of additional functionalities within the Pi Network application itself, as well as the creation of additional tools or services that will allow users to better manage their Pi tokens. 


Pi Network in 2024 

And during 2024, the Pi network records an increase in the number of new users. The number of active users reaches an impressive figure of over 50 million worldwide, which clearly indicates the continued growth of the popularity of this cryptocurrency and mobile application. This rapid user growth is the result of increased awareness of Pi Network, improved security and functionality of the application, and an aggressive marketing strategy.