Pi Network: A New Era of Accessible Cryptocurrency Mining

As our world becomes increasingly digital, cryptocurrencies are changing with it. Pi Network is one such currency, representing a new type of accessible digital currency for ordinary people. Launched in 2019 by three Stanford graduates, Pi cryptocurrency quickly gained popularity among users. So much so that there are professional predictions about its price being posted already. In this article, we will explore Pi Network in more detail, including what it is and how to mine it.

1. Pi Network’s main principles, including its eco-friendly approach to mining

Pi Network allows users to earn Pi cryptocurrency from any mobile device. This is the result of cryptocurrency evolution in general. Bitcoin is starting to become old-fashioned as it requires a lot of electricity, while Pi coins are completely eco-friendly. Pi Network uses Proof-of-Work algorithm without the high electricity costs.

2. The three phases of Pi Network development: design and token distribution, test network, and main network

Pi Network has three phases of development: design and token distribution, test network, and main network. During the design and token distribution phase, improvements in user experience and behavior are possible, and all coin minting for users will be transferred to the live network after its launch. During the test network phase, the host software will be deployed to the test network, and the Pi core team will encourage more pioneers to launch their own nodes on the test network. When the community feels that the software is ready for production and it has been thoroughly tested on the test network, the official mainnet of the Pi network will be launched.

3. How to mine Pi cryptocurrency using a mobile device

Mining Pi cryptocurrency is as easy and intuitive as using the Changelly app. To connect to the network, it is enough to have a mobile device based on iOS or Android. Simply download the Pi Network app, specify the registration method, fill in your information, and hit the ‘mine’ button. You do not need to keep the app open, just activate the button once in 24 hours, and you’ll get the coins.

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4. Where to store and trade Pi cryptocurrency

The wallet is the app where you mine your coins. During phase 3 of the project, you will also have the option to take full ownership of your private/public keys. According to Coingecko, Pi cryptocurrency can be traded on some exchanges, including Hotbit, Gate.io, and Bittrex.

5. Potential for Pi Network in the future

Pi Network is still an experiment in the field of mobile mining, but its potential is great. If the team continues to develop the project, the app will become a real phenomenon in the crypto sphere. As cryptocurrencies continue to evolve and change, Pi Network may represent a new era of accessible cryptocurrency mining for ordinary people.