Is Pi Cryptocurrency Real – Home / Bitcoin / Cryptocurrency / Pi Network / Pi Network News / Pi Network Open Mainnet / Pi Payments / PiBlockchain
Cryptocurrency is an important part of the global financial system and many digital currencies are trying to gain more trust and use. One of the leading projects in this field is the Pi Network, which offers the vision of creating a digital currency for everyone.
Is Pi Cryptocurrency Real
The key to creating a successful cryptocurrency is using it in real life. In response to this problem appears the “PayWithPi” initiative, which aims to increase the acceptance and use of Pi cryptocurrency in everyday transactions.
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With the increasing number of merchants accepting Pi as a form of payment, the value and reliability of this crypto will increase significantly. When digital money is used to purchase goods and services in the real world, it provides proof of intrinsic value and builds trust among users. PayWithPi acts as a bridge between Pi owners and merchants, facilitating profitable transactions for both parties.
PayWithPi not only facilitates transactions, but also helps consumers and merchants choose Pi. By offering incentives and ease of use, this initiative encourages people to accept this cryptocurrency as an important part of their financial lives. Various offers and loyalty programs offered by PayWithPi reward users for using Pi in various daily transactions, which increases the overall use of this cryptocurrency.
In addition to direct benefits to individual users, PayWithPi strengthens the Pi ecosystem as a whole. By increasing the number of transactions with this cryptocurrency, this initiative creates a stronger and more stable environment for the growth and development of the Pi network. More merchants adopting the Pi means more resources for network-based projects such as mining and infrastructure development.
With each increase in merchants accepting Pi as payment, the PayWithPi initiative will gradually increase the adoption and use of this cryptocurrency. This creates a mutually beneficial environment for all participants and strengthens Pi’s position in the competitive cryptocurrency market. Additionally, the number of transactions using the Pi increases the security of the network, as it becomes more difficult for malicious actors to control the high computing power required to operate the network.
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“#PayWithPi” initiatives promote the adoption and use of the Pi cryptocurrency in real-world transactions, increasing its value and credibility. As more merchants accept Pi as a form of payment, it strengthens the ecosystem and builds trust among users, ultimately driving… pic.twitter.com/CE0PxoQzaS — The Times of PiNetwork (@PiNetwork24X7) March 11, 2024
Thus, the PayWithPi initiative not only increases the value and credibility of the Pi cryptocurrency, but also plays a role in shaping the bright future of this ecosystem. Through collaboration between users, merchants and developers, Pi Network is developing as a leader in the crypto world. PayWithPi is not only about making transactions, but also about building a strong and stable ecosystem around the Pi cryptocurrency, making it more usable and accessible to everyone. There are many rumors on the internet about Pi cryptocurrency, but many people are interested in it. Maden Pi Coins, some people still doubt the cryptocurrency name.
In 2018, a group from Stanford University created Pi networks where users can mine Pi coins and trade other network mines (promoters) for goods and services.
The network or community known as “Pioneers” has grown from 100,000 users at its inception to over 35 million users in over 230 countries or territories. In June 2022, many developers migrated to the Pi Main Network after Pi Network was approved through KYC.
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This has led many to wonder if Pi Coin is real. However, in this article, we will look at the introduction of Pi cryptocurrency and whether it is legal.
Pi cryptocurrency was launched in 2018 by Nicholas Kokkalis and Chengdiao Fan from Stanford University. Pi coins can be mined by anyone with a mobile device, the same way the Pi team built the startup.
Both Android and iOS phones support installing the Pi Mobile app. Users can quickly start withdrawing Pi coins on their phones after installing and configuring the app.
Users of the Pi network are called peers. Since its inception, the Pi Network has become a popular social media platform and has seen phenomenal growth in participation, with an estimated 33 million members in 2022.
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On the Pi network, anyone can become a node on their computer and send users to the Pi mobile app to mine Pi cryptocurrency and earn rewards (Pi Coin).
The basis of the algorithm used by Pi (SCP) nodes is the Stellar Consistency Protocol. According to Capital.com, Pi’s distributed ledger nodes verify transactions and agree on the order in which new transactions are recorded.
The app now serves as a cryptocurrency wallet where people can exchange Pi Coin. Users need to link their Facebook account and phone number to the app as the app acts as an official wallet to store Pi Coins.
In May 2020, the app started publishing ads as a source of revenue for the startup. For Bitcoin to halve every four (4) years, the cryptocurrency will halve. A halfway mark occurs when a particular stage is completed.
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This is to protect the PiCoin network from decline. When PI reached 100,000 users, its mining rate dropped from 1.6π to 0.8π per hour, then back to 0.4π and again to 0.2π per hour when it reached 1 million users. Once the network reaches 1 billion users, that will be halved to zero, according to Picor’s team.
Pi cryptocurrency works like multi-level marketing (MLM). You need to download the app (available for Android and iOS). After installation, the software requires a referral code and some personal information (name, email, phone number).
The software is very easy to use and understand. All you have to do is click the “Run Pie” button every 24 hours. Depending on your status, the app will automatically add an appropriate amount of Pi coins to your account. Even if you turn off your phone and internet, it still happens.
When you join the Pi network and start mining, you start as a leader. Your Pi Coins hourly earning rate will increase as you progress through the three membership levels.
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When you post five or more trusted contacts in a period of time, you will become a Contributor. You become an ambassador if at least 23 developers join your network using your referral code.
The Pi Pi Coin team launched the Mainnet, where individuals can migrate from the network to the test by completing the “KYC” verification process in the app. The team has made KYC very important for developers as it increases app usability and machine automation.
Explorer Pi was also implemented, which allowed developers to view the history of transactions as senders and receivers. Updated the app to notify users when they receive Pi Coin.
On March 14, the Pi team announced an update where users who complete KYC and transfer their Pi coin from the test network to the main blockchain will be able to purchase goods and services on the Pi Coin app.
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Certified pioneers can transfer the Pi crypto mainnet to other certified pioneers P2P (pioneer to pioneer). Some people are now calling Pi Coins as “Pi Sellers” on Facebook social networks.
Developers can temporarily lock Pi coins for higher mining speed. However, this is for those who want to mine their Pi coin every 24 hours for maximum income or mining speed.
The Pi cryptocurrency is not yet fully live on the blockchain, which means that users cannot buy Pi Coin on any cryptocurrency exchange. Once the blockchain is activated, Pi coin miners can exchange their mined coins.
According to the group, Mainnet will reduce PiCoin fake account storage. After launching a coin on the blockchain, any certified developer can exchange their Pi Coin for another cryptocurrency or fiat currency.
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The Pi value of the cryptocurrency was previously listed as $0.007077 by crypto statistics source “CoinMarketCap”. According to Capital.com, until August 31, 2022. However, the price of the coin is not available on coinmarketcap at the time of this writing.
These claims are purely speculative and the true value of Pi Tora will not be known until it is listed on the stock market and re-traded. Actual numbers may differ significantly from these estimates.
Many people ask to know the value of pi coin to Nigerian Naira. As such, the coin is not yet live or sold on the blockchain, but many sellers in Nigeria known as “pi sellers” are now hoping to launch the Pi Coin, which is unknown at the time of writing.
Currently, all sellers who buy a coin have their own special rate, which is unknown