explicitClick to confirm you are 18+

Pi Network is gaining traction – is it worth mining?

Nguyễn ChâuMay 24, 2020, 9:05:51 AM
thumb_up47thumb_down7more_vert


1.What is Pi Network?

   Pi Network was created from the simple belief that the existing blockchain and cryptocurrency networks are out of reach for the common public. For instance, you can no longer mine Bitcoin using your home computer. You need very expensive equipment to stand a chance. These equipment are out of reach of most people and that tends to keep people out of the cryptocurrency ecosystem – and act as key impediment to mass adoption.

   Pi can be mined on mobile phone and does not need the app to be switched on to mine. This drastically changes the way mining works and potentially encourages people who are kept outside the crypto ecosystem because of costs and complexity. Pi is both free (almost) and easy to participate in the ecosystem.

2.What makes Pi Network different?

  “Pi’s consensus algorithm builds atop SCP. SCP has been formally proven and is currently implemented within the Stellar Network. Unlike Stellar Network consisting mostly of companies and institutions (e.g., IBM) as nodes, Pi intends to allow devices of individuals to contribute on the protocol level and get rewarded, including mobile phones, laptops and computers.”

3.Who can participate in Pi Network?

  Anyone with an Android or Apple smartphone and internet access can participate in the Pi Network.

   According to the whitepaper: “There are four roles Pi users can play, as Pi miners. Namely:

- Pioneer. A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g. make a payment in Pi to another Pioneer)

- Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.

- Ambassador. A user of the Pi mobile app who is introducing other users into Pi network.

- Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer. The Pi node software is the software that runs the core SCP algorithm, taking into account the trust graph information provided by the Contributors.

    A user can play more than one of the above roles.”

4.Team:

    Pi network team consists of professionals from Stanford university and they are welcoming interested enthusiasts from all over the world to join the team. Interested professionals can be the part of their team by filling the form here for consideration.






5.Step-by-step process of setting up Pi Network Mining

   Here is the picture by picture breakdown on how to successfully install and mine Pi on your mobile.

* Step 1: Download and install the app Pi Network on your mobile: Android | IOS

  The fact that it is listed on both Android and Apple stores (under their due diligence) – we are a bit more open to installing the program.


* Step 2: Sign up with Facebook or Mobile number

    Either you can choose to sign up with facebook account or mobile number. Remember to provide valid information as you need to either login or be able to access these accounts or numbers in order to get hold of your minded tokens when the mainnet is launched.


We are signing up with our mobile number.


* Step 3: Set up a unique password and submit


* Step 4: Complete the fields with your name and unique username, then click "submit".


* Step 5: Consider using the invitation code, "ChauNguyenHan" (it will increase our mining capabilities) and click "submit".


You will earn your 1st Pi Network token for joining and land on this page. Click "get started"


* Step 6: Tap on the "flash sign" to start earning

   That’s it, you have now successfully installed Pi Network on your mobile and are now mining the Pi tokens, at 0.25 Pi Token per hour. As you invite more people – your rate per hour will increase. Also, make sure to turn notifications since you will have to tap this ‘flash’ button every 24 hours to continue to mine – you do not need to keep the app open though.



Happy mining.