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Personal Data Security: Are We Safe With Pi Network?
In the past few months, lots of mobile mining applications have been launched in order to compete with the growing and fast development of Pi Network. Not to mention any of them, but most of those applications were just plain scams that wants to take money from their users by showing loads of advertisements every time a user made an activity inside the app.
But with the existence of those scam apps, Pi Network was not an exception with the allegations of being just a possible scams that only make revenues from showing ads or selling personal data from its users.
In this article, I'm gonna break those allegations about Pi Network and to give a clarifications to people asking about Pi's transparency and let this article to be the voice of the people who are concerned but can't speak out about it.
But before we go on with this article, I just want everyone who can read this to know that this is not a paid article. A question about if Pi Network really is legit and worth our little time is currently unanswerable until it will be fully launched and available in the public market.
This is one of the biggest concern for the users yet the easiest one to be clarified.
Unlike the other mining applications that shows ads without the permission from the user, Pi Network allows its user whether or not they will activate the option for showing ads inside the app.
Users can decide if they want to activate this or not and this one is more comfortable than those other applications who constantly shows an ads even just by staying inside the app.
You must be asking about why Pi Network made an option for showing ads or not.
Here's the fact about that.
Since Pi Network has over 10 million users already, the Pi Network also need to store the data of those 10 million users. But don't get wrong, I'm not talking about the user's personal data, what I'm telling you about is the data of how many and who you have invited in the project, your completed mining sessions in the app, who invited you and other things. The things I have mentioned needed databases and servers to store all of it and with the help of showing ads inside the can help the developers pay for those servers and databases from the revenue it can get from ads.
One more thing we should also know that Pi Network uses a third-party application service called YOTI for the verification process.
The verification process is obviously not free and YOTI charges Pi Network around $1.4 for every verification and that would mean that Pi Network needed to pay YOTI a hundreds of thousands of dollars for just 100,000 KYC slots.
So it's very unlikely for the Pi Network to just get revenue from showing ads if we just realize that how much expenses they needed to pay for the success of the project.
A person's personal data is nailed to be the most expensive thing to be taken by anyone and this can raise concerns to anyone about their security.
But to short it, Pi Network does not sell or even collect its user's personal data.
The KYC Verification.
Pi Network uses a third-party application for storing the people's data called YOTI. With YOTI, all inputted information about the user are encrypted - meaning Pi Network and even the YOTI application itself does not have access to it after confirming the data.
And regarding to the Pi Network KYC verification process, the network itself will connect to the YOTI application and asks if you are a verified user or not. This totally means that Pi Network does have any access to your personal data because it was stored encrypted in YOTI - that even YOTI itself can't get access.
If Pi Network was really a scam in the first place and only want to steal your personal data and make money from showing ads, they could have just automatically shows an ad in every user's account without hesitations or they would not be needing to use a third-party application just for a user's KYC activity.
With everything I've mentioned above, that could clearly let you/everyone who reads this know that Pi Network can't be easily just a scam. No one really knows if the project will be successful until phase 3 arrive - where Pi coin can really have its value and tradable in exchanges.
I'll be writing more about this project in the future and if you still don't have the Pi Network app and you don't want to missed out on this, you should install and run it on your device now.
I will publish a guide about Pi Network soon and I'll be sure it will be helpful for everyone who wants to start mining Pi.