"I am sending you 1π ! Pi is a new digital currency developed by Stanford PhDs, with over 35 million members worldwide. To claim your Pi, follow this link https://minepi.com/Vudai1994 and use my username (Vudai1994) as your invitation code." Note: If you ignore the referral code you will not have 1 Pi!

What is the Pi Network (Pi) coin?

The Pi Network is a cryptocurrency project that aims to make mining accessible to all users. The Pi Network cryptocurrency can be mined by anyone who has installed the associated app on their mobile phone. Moreover, the mobile device doesn't suffer from the increased workloads that traditional mining equipment is traditionally subjected to.

How does mining on the Pi Network work?

Nodes on the Pi Network rely on an algorithm based on the Stellar Consensus Protocol (SCP). Within it, the nodes on the Pi Network form "security circles", that is, groups of three to five trusted people who are known to each of the network's users. Security circles prevent fraud because transactions are only validated on the blockchain if they're approved by trusted nodes.

The system has the following user ranks:

Pioneer. Entry level for all users
Contributor. You only need to mine Pi cryptocurrency for three days to unlock it
Ambassador. A rank for users who invite other members to join the Pi Network. This rank caused a lot of criticism, as many saw it as a sign of a pyramid scheme.
Node. Members who have connected additional hardware to the network. This level is still in development and will be available later.

The developers have planned three phases for the Pi Network's evolution:

1. Token development and distribution. At this phase, the Pi Network acts as a faucet that mimics the behaviour of a decentralised system, as it'll function once the mainnet is up and running. During this stage, it's easy to introduce improvements to the user experience. The Pi coin is actively mined, but it's not traded on exchanges, has no exchange rate and can't be withdrawn or exchanged for other coins. All user coins will be migrated to the mainnet once it is launched.

2. Testnet. The deployment of software in a test network on existing nodes that will run parallel to the first phase.

3. Mainnet launch. When the community feels that the software is ready for release and has been thoroughly tested, the official Pi mainnet will be launched. By that point, the Pi Network will be fully decentralised and won't be run by anyone but nodes. According to the developers, only those accounts that pass the KYC procedure will be migrated to the mainnet.

The Pi Network ecosystem is now in its first and second phases. The launch of the third one is still in question.

How to mine Pi coin

Pi mining is simple and is done using a special mobile app.

How to mine Pi Network on mobilephones

To start mining Pi, follow a few simple steps:

Step 1. Download Pi Network app here.

Step 2. Sign up with Facebook or phone number. (People using their own personal phone numbers)

Step 3. Set up your password

Step 4. Fill in your profile details. Make sure you provide your real name. Then continue with the country and phone number

Step 5. Enter the invitation code: Vudai1994 or https://minpi.com/Vudai1994 ( I am sending you 1π, If you ignore the referral code you will not have 1 Pi)

Step 6. Press the lightning button to start mining Pi. The mining process will run for 24 hours before you need to press this button again.

Pi mining on iPhone

You can find the Pi mining app for iPhone in the App Store. It requires iOS 9.0 or later to work properly.

Pi mining on Android

The Android app can be downloaded from Google Play. It requires Android 5.0 or later.

Which crypto exchanges have List Pi?

1. Huobi
2. Hotcoin Global
3. Biconomy Exchange
4. XT. Com
5. SuperEx
6. Crypto. Com (USA)
7. Atlantis Exchange (USA)
8. BitMart.Exchange
...
https://coinmarketcap.com/currencies/pinetwork/

How to mine Pi faster

Increasing the amount of Pi mined can be done in the following ways:

1. Get the Contributor rank. To obtain it, you need to mine Pi for three days and add 5 users to the circle of trust.

2. Get the Ambassador rank. To obtain it, you have to invite new members to join the network via your referral code.

Is Pi Network mining profitable?

The Pi coin isn't currently traded on exchanges and doesn't have any price. The developers themselves emphasise that Pi's price is now zero, just like the price of Bitcoin in 2008. This, of course, is true because the first block of Bitcoin was generated in January 2009, and Bitcoin didn't exist yet in 2008.

For this reason, it's impossible to assess the profitability of Pi mining right now. However, the Pi Network mining app is free and doesn't consume any noticeable amount of electricity for its operation. As a result, no matter what the price of the coin is once it's listed on cryptocurrency exchanges, its miners will see profit anyway.

It's also worth bearing in mind that when you install the app, you have to provide personal details: Name, phone number and country of residence, and if you register using a Facebook account, the ID of that account. Thus, there's always the potential risk that this data could be stolen. Given this, it's even more suspicious that the developers are willing to implement KYC procedures, i.e., full identification of customers with their personal data, including passports and addresses.

The question of whether the Pi token has any prospects is rather difficult to answer until the Pi Network's mainnet is launched. There are no dates for its launch on the project's official website. And while Pi mining costs users nothing, the requirement to pass KYC, the use of pyramid schemes tactics and the fact that the app is a closed-source software are surely red flags.

❤️ PI EVIDENCES ❤️

➡️ 650,232k Nodes, 35M users, 25M Wallets, blockchain, utility.

➡️ Pi Network was a part of the stellar conference back in 2019:

https://www.reddit.com/r/PiNetwork/comments/pp0pap/at_the_meridian_conference/

➡️ Pi Network has a public CT (dr Nicolas and dr Cfan) - Stanford PHDs

➡️ Published Node and some project code on github: https://github.com/pi-apps/pi-platform-docs

➡️ Pi Network payment flow: https://github.com/pi-apps/pi-platform-docs/blob/master/payments.md

➡️ Pi Network is on BIP044: https://github.com/satoshilabs/slips/blob/master/slip-0044.md

(BTC; ETH, LTC ... and other cryptos are on the same list)

➡️ Pi Network is backed by a lot crypto influencers like: Justin Wu, BitBoy Crypto, Chris Guillebeau, Wes Spencer ...

➡️ The link to the official company: https://www.picommunity.co/

➡️ Mother Company Sochial Chain: https://socialchain.app/ (registered in Silicon Valley)

➡️ Pi Developer Guide: https://pi-apps.github.io/community-developer-guide/

------------------------

⭐️ First WHITEPAPER RELEASE: https://minepi.com/white-paper

⭐️ NEW WHITEPAPER CHAPTERS: https://bit.ly/3KPbRwf

⭐️ PI Network RoadMap: https://bit.ly/36T6Kf5

------------------------

➡️ Pi Network is transparent with the Nodes and Utility rewards formula which can be found in the above posted whitepaper

➡️ Official Pi Website: https://minepi.com/

➡️ Pi Team: https://minepi.com/team (only two there more than 30 Core Team Members)

➡️ Pi Nodes website: https://node.minepi.com/

📊 Pi Network asking for jobs:

Engineering Manager

https://www.linkedin.com/jobs/view/2748348037/?refId=O8un5%2BjPEwtIiyGsbLw%2F0Q%3D%3D

➡️ Verified twitter profile

➡️ More like than "mining" we are just minting Pi vouchers for the mainnet where only validated "vouchers" will make it to the mainnet. So we are more minting than mining and consider this phase as a big Pi distribution.

➡️Registered company: https://opencorporates.com/companies/us_ca/C4194899

➡️ Pi Network Info Session at Stanford: https://cs.stanford.edu/events/pi-network-info-session

✅Pi Network in the News

🌐 Coinspeaker: https://www.coinspeaker.com/pi-network-20m-users-pi-app-engine/

🌐Bitcoinist: https://bitcoinist.com/introducing-pi-network-making-cryptocurrency-accessible-to-the-masses/

(this one was also shared to other medias, even CoinMarketCap shared it)

🌐 Capital: https://capital.com/pi-network-pi-coin-price-prediction-2021-2025 (this one was also shared to multiple others)

🌐 BTCETHNEWS: https://bitcoinethereumnews.com/crypto/when-will-pi-network-enter-the-crypto-market/

🌐 FINANCE YAHOO: https://finance.yahoo.com/news/pi-network-reaches-33-million-181500816.html?.tsrc=fin-srch

🌐 TECHBULLION: https://techbullion.com/its-pi-day-social-cryptocurrency-platform-pi-network-boasts-whopping-33-million-engaged-users-and-a-decentralized-kyc-solution-rollout/

🌐 BSCNEWS: https://www.bsc.news/post/pi-network-new-mining-begins-with-3-14-pi-day

🌐 NEWSBTC: https://www.newsbtc.com/news/company/accelerated-development-of-pi-blockchain-yields-decentralized-kyc-solution-33-million-engaged-users-and-more-on-path-towards-open-mainnet/