Post | CryptoIsdinval

Pi Network (PI) is the latest digital coin to gain attention from the crypto-currency community, even before its full launch. Some users see it as a way to get involved with a crypto-currency early on and profit from it in the future, in the same way, that early Bitcoin adopters accumulated massive gains by mining and holding the currency. However, others have compared the Pi to a multi-level marketing (MLM) scam that has no value.

But what is the Pi network and how does it work? Have you heard of the Pi cryptocurrency and are looking to learn more about it as a potential investment?

This article gives an overview of what the Pi Network is aiming to achieve and how the prediction of the price of the Pi crypto-currency is already taking shape.

I°) What is the Pi network ?

Pi Network is a digital currency project that aims to keep cryptocurrency mining accessible, as the centralization of the first generation of currencies like bitcoin has put them out of reach of everyday users. The Pi Network, developed by a team of Stanford graduates, allows users to mine PI coins using its cell phone app, validating transactions on a distributed ledger.

With branding based on the number π, Phase 1 of the project launched in 2019 on Pi Day, March 14, with its free Pi mining app. By June 2019, the network had more than 100,000 active users, and a year later, when Phase 2 launched, there were over 3.5 million. The app began running ads in May 2020 to provide a funding source for the project. The user base reached 14 million in March 2021, after crossing the 12 million mark in February.

Pi Coin is the cryptocurrency that runs on the Pi network, and like other cryptocurrencies such as Bitcoin, PI was designed to undergo regular “halving” to protect its scarcity. Halving is the process of reducing by half the number of coins a miner receives to process new transactions when a certain milestone is reached.

Pi’s mining rate was halved from 1.6 π per hour when it reached 100,000 users, then again to 0.4 π per hour when it reached 1 million, and again to 0.2 π when it reached 10 million. It will continue to decrease by half, reaching zero at 1 billion users.

In the second phase of the project, users can volunteer to test the Pi Node desktop software on their computers. But when will the third phase be launched? According to the developers, the start of the third phase has not been predetermined but depends on the progress made in the second phase.

Unlike network nodes such as Bitcoin or Ethereum that use proof-of-work protocols, Pi Nodes use an algorithm based on the Stellar Consensus Protocol (SCP). Pi Nodes validate transactions on a large distributed ledger and reach consensus on the order of new transactions that the ledger records.

In SCP, Pi nodes form security circles, or groups, of three to five trusted individuals known to each of the networks’ users. The security circles create a global network of trust that prevents fraudulent transactions because transactions can only be validated on the shared ledger if the trusted nodes approve them.

2. Pi Coin is still in pre-launch mode.

If you’re wondering how to buy Pi Coin for your wallet, it’s not possible yet. Users who have mined the Pi crypto-currency will only be able to withdraw or exchange their coins during the third phase of the project, when Pi moves to a fully decentralized blockchain. According to the project’s website, Pi cannot be transferred during the test phase, to prevent fake accounts from accumulating coins. Pi wallet balances are expected to be honored when Pi moves from the test network to the main network, when the blockchain protocol moves out of its development phase and is fully deployed.

As a result, the Pi Coin is not yet available to be traded on crypto-currency exchanges or trading platforms.

Once Phase 3 launches, holders will be able to take full control of their private and public wallet keys and use the coin to purchase products and services on the Pi peer-to-peer marketplace or exchange it for fiat currency. Without the keys, users cannot transfer or spend the currency they hold.

The Pi mobile app acts as a crypto-currency wallet, linked to the user’s phone number or Facebook account. Like other public blockchains, the Pi blockchain will allow external wallets to hold Pi coins and transact with them by submitting them directly to the blockchain. However, unlike other blockchains, its developers have not yet released its source code.

In December 2020, Pi developers introduced a new Pi Brainstorming app to allow users to propose app ideas, join projects and engage other users.

Early adopters are hoarding the Pi crypto in anticipation of a sharp rise in price after the launch of Phase 3. Although the coin’s mining rate has been cut in half, users can increase their mining rate by connecting to other active miners. New users can only join the Pi network if they have a referral code from another user.

The project’s developers claim that the security of the Pi network is enhanced by personal networks, encouraging users to reach out to friends and family – raising skepticism that this is a multi-level or pyramid marketing scheme. However, it should be noted that users can only earn coins from their own direct networks – not from the networks of their connections, as in the case of an MLM system.

Some crypto-currency watchers have already started to make their prediction of the value of Pi Network. Let’s take a look at what the price of the Pi Network is likely to be when it starts trading.

3. Pi Network : Pi corner price forecast for 2021-2025

According to Digitalcoinprice.com’s 2021-2025 Pi Network price prediction, coin prices are expected to rise from an average of $0.0107 to $0.0127 in 2022, and to $0.0212 in 2025. It should be noted that Digitalcoinprice.com has since withdrawn its predictions.

In the longer term, the Pi price is expected to average $0.0319 in 2028. However, if there is actual use of the Pi network, it could soar beyond the predictions to $1,000. This will only be possible if half of the world’s population adopts this amazing coin.

Furthermore, the Pi is currently worthless and not tradable on any market.

It is difficult to predict the value of the coin before its launch, but it could start with a value of about $5 to the U.S. dollar, according to some predictions.

Other sources indicate a value of $15/20 by 2025.

4. FAQs

4.1. When will the Pi coins enter the market?

The Pi crypto-currency is expected to launch during the third phase of development of the Pi network. The launch date has not been set – it will depend on the progress of the testing phase and subsequent listing on crypto-currency exchanges.

4.2. What will be the expected value of Pi?

Pi currently has no value and is not tradable on an exchange. It is difficult to predict the value of the coin prior to its launch, but it could start with a value of about 0.01 against the U.S. dollar, according to some predictions.

4.3. Will the price of the Pi rise in the future?

The direction of the Pi’s price will depend on its popularity among crypto-currency investors. It is possible that the price will increase after its launch if the broader crypto-currency markets continue to recover, as new projects tend to attract investor interest.

4.4. Is the Pi coin a good investment?

At the moment, investors cannot trade Pi coins. If you think the project will succeed in launching an accessible crypto-currency that doesn’t exclude ordinary users, you can participate in mining the coin. Otherwise, you can wait to buy it on an online exchange.

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