Pi Network offers an affordable, environmentally friendly alternative to traditional mining methods. The platform has a three-phase development plan
- Beta, where it launched the mobile app and has accumulated more than 3.5 million users in 233 countries
- Testnet phase, which focused on decentralization and the creation of utilities
- The Mainnet phase will launch a live blockchain, with an initial closed network period for KYC authentication and balancing migration, and finally moving to an open Mainnet.
Based on the Stellar Consensus Protocol (SCP) and leveraging the Federated Byzantine Agreement (FBA), Pi Network allows reliable ledger updates, allowing individual devices such as mobile phones and laptops to act as miners. Users can take on one of four roles — Pioneer, Contributor, Ambassador, or Node — each of which contributes to the maintenance of the network and earns rewards in the process. Pi’s consensus algorithm is based on the trust graph provided by contributors, allowing for truly decentralized participation
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Pi Network is a mobile app that allows users to mine Pi, a new cryptocurrency still under development. Mining consists of contributing to the phone’s computing power to protect the Pi network and earning Pi tokens as a reward. What sets Pi Network apart from other cryptocurrencies is its focus on accessibility and simplicity. Unlike other cryptocurrencies that require expensive mining hardware and technical knowledge, Pi can be mined using only the phone. The app is available for free on the App Store and Google Play, and mining only requires you to click a button once a day to confirm that you are still an active user.
Another unique aspect of Pi Network is its emphasis on building a community. Users can invite friends and family to join their ‘safety circle’ to increase network security and earn more Pi. There are also various activities and activities that users can do to earn more Pi, such as participating in surveys, referring new users, and running a Pi node on their computer. While Pi Network is still under development and not yet available for trading on cryptocurrency exchanges, it has garnered a lot of attention and a large user base. The team behind Pi Network has ambitious plans for the platform, including creating a marketplace for buying and selling goods and services with Pi and creating a decentralized web browser that supports Pi payments
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Pi Network is a new cryptocurrency and development platform that allows mobile users to mine Pi coins without draining the device’s battery. It protects economic transactions through a mobile meritocracy system and provides a complete Web 3.0 experience, where community developers can create decentralized applications (Dapps) for millions of users. As the network continues to develop, its impact on the cryptocurrency world and beyond is anticipated with interest. Pi Network has a strong and rapidly growing community of users around the world, who are actively involved in its development. User feedback often informs new features, ensuring constant evolution to meet user needs. The protocol already has more than 35 million pioneers in its decentralized finance (DeFi) ecosystem
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The main use cases for PI tokens include governance.
The PI token is the platform’s governance token and therefore token holders can participate in the governance of the platform through voting mechanisms.
Short note by Kozi Pi on the price of the Pi network
- Pi currently has a supply of 1.8 billion coins, but 1.33 billion of them are blocked, leaving only 470 million coins in circulation.
- If an open mainnet were to be launched with a price of $10 per Pi, the market capitalization would be $4.7 billion based on current circulating supply.
- However, the fully diluted market capitalization remains the same at $1 trillion based on the maximum supply of 100 billion coins.
- Supply and demand are important factors in determining the current market price, which is formed when both buyers and sellers transact on the stock exchange.
- Pi’s earning potential, vision, and peer pressure (including community, hype, and memes) may also influence its future price.
- It is unlikely that the ‘Global Consensus Value’ (GCV) ideology will be supported because even if some were in agreement, the vast majority of the network would ignore it, resulting in a subsequent drop in price until it reaches reasonable intervals.
- It is important to use market capitalization as an indicator in combination with other metrics to determine the value of an asset.
- The price of Pi will depend on how many buyers are willing to push the price to certain levels, which is difficult to predict.
- Many coins in the cryptocurrency market are overvalued or undervalued, and the market can do irrational things based on FUD or hype
- Pi’s success could be comparable to other tier 1 blockchain solutions, but there are still plenty of unknowns to make assumptions about its future value.
Pi Coin: buzz and sentiment on social media
| Metric | Tendency |
|---|---|
| Social Mentions | Lower |
| Metric | Last 24 hours | Tendency |
|---|---|---|
| Net sentiment on social media | -1 | Neutral |
Pi Price Forecast 2023, 2025 and 2030 (aggregated)
PI Price Prediction 2023
According to the price forecast, PI Coin is expected to reach a maximum price of $114 in 2023
PI Price Prediction 2025
The market price of PI is expected to reach a maximum price level of $240 in 2025
PI Price Prediction 2030
PI Coin’s price prediction for 2030 states that its price may reach a maximum price of $1,050
PI Coin $100: Can PI reach $100?
PI Coin needs to grow by only 4 times to reach $100,
Note that PI’s all-time high price is $306 which it reached in December 2022 and grew nearly 21.4-fold in less than a month to reach that value.
Therefore, considering a 21.4-fold growth in a month, we can assume that PI Coin doesn’t even need a month to reach $100 (according to calculations).
However, market conditions will also play a role in determining the price of PI in the near future and, therefore, it may need a little more time.
However, reaching $100 is an easy goal for PI Coin.
Pi Price Prediction: Will PI Coin Reach $1000?
PI Coin will have to increase 40 times to reach $1000
In addition, considering its 21.4-fold growth in a month (as calculated earlier), we can say that the price of PI can reach $1000, in less than 3 months (according to the calculation).
But it’s not practical for PI Coin to show similar growth in the current times due to the difference in macro and microeconomic conditions. Therefore, it may take longer than expected to reach $1000.
Where can I buy Pi Coin?
Pi Coin can be purchased from various crypto exchanges, including:
- Huobi
- BitMart
- Biconomy exchange
- XT.com
- SuperEx