mining Pi Network - mine crypto with your smartphone!

[Alekseys787 1583]

Original article taken from: https://changelly.com/blog/ru/pi-network-pi-cryptocurrency-review/

 

What is Pi Network?

The project was created by three graduates of Stanford University on March 14, 2019:

• Dr. Nicholas Kokkalis, Head of Technology Department;
• Dr. Chengyao Fan, Product Development Manager;
• Vincent McPhillip, Head of Community;

The Pi Network allows users to mine Pi (π) using any mobile device, which is a significant stage in the evolution of the cryptocurrency world as a whole. Due to the use of PoW algorithm, Pi mining does not require a lot of electricity, unlike Bitcoin and other early cryptocurrencies.

 

The project has 3 phases of development:

 

Phase 1. Design, Distribution, Trust Graph Bootstrap

The Pi server acts as a cryptocurrency faucet and emulates the behavior of a decentralized system as it would after launch. At this point, it is easy enough to make changes to the system and UX compared to when the main network starts. After the launch of the network, all users will receive the coins they have mined.

 

Phase 2. Testnet (the project is now here, since March last year)

Before starting the mainnet, the host software will be deployed on the testnet, which uses the same verification algorithm as the mainnet. The Pi team will deploy multiple nodes on the testnet, but will also support early adopters to deploy their own nodes.

 

Phase 3. Mainnet (it is planned to enter this phase at the end of 2021)

When users decide that the platform is ready to launch and has been sufficiently tested, the Pi Network will officially launch the mainnet. The mining opportunity will stop. It is worth noting that when moving to the main network, the company will leave intact only those accounts whose owners have verified their identity.

The cryptocurrency will be completely decentralized and will not be regulated by any particular authority. Fake users and duplicate accounts will be removed from the network (!). At this stage, Pi will be able to enter crypto exchanges. Also, at this stage you will get access to your private keys (the application is also a wallet).

 

How do I mine Pi?

To join the network, an iOS or Android mobile device is enough. The connection procedure is very simple:

1. Follow the link https://minepi.com/Alekseys787 (ref) or https://minepi.com (not ref)
2. Download the application and install it on your smartphone or tablet.
3. Select the registration method: using your Facebook account or by phone number.
4. Enter your country of residence and phone number.
5. Enter your first name, last name and nickname.
6. After installing the application and registering, you will be offered an excursion (tutorial) on the application - do not miss it, everything will immediately become clear.
7. To activate mining, you need to press the button every 24 hours.
8. Don't forget to verify your account ("Profile" icon -> "Account verification")

When you enter the referral code "Alekseys787" at the registration stage, you increase your mining speed and please the author of the post!

__________

The application also implements a rank system (affects the mining speed):

 

1. Pioneer. Initial rank for any user. At this stage, the speed can only be increased by registering with a referral code.
2. Contributor. To get this rank, you need to mine Pi for three days.
3. Ambassador. This rank is given to users who invite other members to join the Pi Network.
4. Node. Community members who have connected additional equipment to the network. This rank is still under development and will be available at a later date.

__________

As innovations are introduced, the article will be supplemented.

 

[SelimAbi 339]

I also use this application. In fact, the project is nice and its applications can be mining very easily. It is mining by clicking once a day without damaging the phone. But now I started to encounter more and more bad comments about this project. It is not clear when they will pay.

[Alekseys787 1583]

13 hours ago, SelimAbi said:

I also use this application. In fact, the project is nice and its applications can be mining very easily. It is mining by clicking once a day without damaging the phone. But now I started to encounter more and more bad comments about this project. It is not clear when they will pay.

They said from the beginning (it also written in FAQ) that "Pi is NOT free money. It is a long-term project whose success depends on the collective contributions of its members".
They also say that now the value of Pi is "0 dollars/euro etc.".
They hide nothing.

But in Phase 3 Mainnet they plan to 1) list Pi on cryptocurrency exchanges to be possible trade it for other crypto and 2) directly purchase goods and services with Pi. Of course, both these depends on Pi's community contribution in project's development but I believe that is not scam and we just need some time (maybe half-year or year or two) to take profit from this project.

[Troy2021 55]

Hi friends, I've been on the pie network for quite some time now.  However, I still do not understand the future of this currency.  I am quite skeptical about whether it will ever be launched.  If you have any idea about this, please share. Thank you.

[Alekseys787 1583]

On 13.03.2021 at 12:42, Troy2021 said:

Hi friends, I've been on the pie network for quite some time now.  However, I still do not understand the future of this currency.  I am quite skeptical about whether it will ever be launched.  If you have any idea about this, please share. Thank you.

You should better read their FAQ section and White Paper, it will help you to make clear about this project.

Phase 3 (mainnet) is planned to launch in the end of 2021.

On 14.03.2021 at 12:20, Jennifer Lawrence said:

Pi network  is the only reliable free mining applications. Most of the people are still saying that it is scam, After some  year  they will be concluded in those people who was  making fun of bitcoin. So take your time and start pi minig on your cell phone. 

I like your point of view!) the same I have.
I believe in developers' decency and responsibility, another part of success depends on community efforts

[Burhan12 287]

Offcourse pi network is also one of the best free mining application which we  can use in our cell phones too. I am also working on pi network because of it simplification and easy to use. I hope so in future i will get good benefit from this net work Every one who have no trust in pi network i would like to advise that you should start it in these days and in future you will get a huge profit from this essential network. 

Edited March 20, 2021 by Burhan12

[Ms.Layla 320]

I have already installed Pi app in my mobile and started mining on it too. I started mining in the end of December. Pi seems a good free mining network. But one thing when would Pi currency launch? When I started mining every one was saying it would launch in the first week of March nut now it is end of the march still we don't get any news. How much we had to wait more? 

[Alekseys787 1583]

On 29.03.2021 at 23:24, Ms.Layla said:

I have already installed Pi app in my mobile and started mining on it too. I started mining in the end of December. Pi seems a good free mining network. But one thing when would Pi currency launch? When I started mining every one was saying it would launch in the first week of March nut now it is end of the march still we don't get any news. How much we had to wait more? 

I know nothing about launch in the first week of March, but according to developers' white paper and faq' section, listings will be in the end of 2021 year.

[Whited35 15285]

Project is progressing according to their mentioned strategies in their whitepaper. Yesterday, they have announced the most anticipated Pi non-custodial wallet to test the transactions. Still, the real Pi will not be transferred into that wallet but it is really adorable job from Pi core team. 

[Alekseys787 1583]

9.04.2020 UPDATE:

Developers launched Pi Browser - there you can find some assets, like Pi Wallet or Pi Chat etc. You can try it now, but remember that Pi in your Pi Wallet are not real - now it's just the Testnet phase, so you have an opportunity to send to or recieve Pi from your friends. Later, when the Mainnet phase will be launched, you can transfer your mained Pi from mobile app to your Pi wallet. Wish you all the best