Let’s take a look at the 5 most important facts about Pi Networks.
Facts about Pi networks
pi network It’s trending in the crypto space. The mobile mining initiative, established by his two academics at Stanford University, Nicolas Kokkalis and Chengdiao Fan, has raised the expectations of many. Decentralized Finance (DeFi) mania.
By allowing pioneers to freely mine the native Pi currency, there is optimism that the network will nurture millionaires in the near future. However, the protocol remains on the enclosed mainnet, building a framework for the launch of an open mainnet.
While waiting for the launch of the open mainnet, BSC News To address the confusion among the pioneers of the DeFi industry, we’ve curated some of the top five facts about networks.
Pi’s native currency is coins
Contrary to various reports and claims from Pioneer, $Pi is a coin, not a token. This is because the protocol has a native Pi blockchain. Similar to the BNB chain and the Ethereum network, the Pi blockchain is backed by Pi coins.
Tokens exist on an existing blockchain, and coins are embedded in that blockchain.
$Pi is not yet tradable
BSC News reported on Jan. Pi Network support To unauthorized $Pi listings on centralized exchanges (CEX). The protocol urged users not to buy coins on any exchanges as the Pi Network is still on the closed mainnet.
Since the Pi Network is on a closed mainnet, $Pi cannot be traded on DEX or CEX. Trading is possible only after the open mainnet goes live.
Pi Coins can only be obtained by mining
$Pi coins can only be obtained by mining through the mobile application. As mentioned above, $Pi cannot be traded on any exchange.
Developers can build on the Pi blockchain
Like other top networks in the industry, developers can build their own network. Decentralized applications (dApps) on the Pi blockchain. Builders are already showing interest in using decentralized blockchains. pie hackathon.
Pi mining is free
Mining Pi is free. Interested users can simply download the application on IOS or Android and start mining cryptocurrencies.
Pi is still on a closed mainnet, focused on mass KYC and building an ecosystem. Hackathon events are part of ecosystem building, inviting teams and developers to showcase their blockchain ideas. When it comes to KYC, the Pi Core team continues its efforts to expand the solution utilizing machine automation and human verification to a large user base.
What is a pi network:
Pi Network is a new cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining their device’s battery. Pi’s blockchain secures economic transactions through a mobile meritocracy system and a full Web 3.0 experience that allows community developers to build decentralized applications (Dapps) for millions of users.
Pi network location:
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