What is Pi Network? What is the value of 1 Pi Coin?

Although Pi Network is predicted by the community to reach 314 USD or 3140 USD, the current trading price of Pi Network on exchanges such as Bitmart and HTX about 36 USD

What Is Pi Network? What Is The Value Of 1 Pi Coin?_65d5ca251c420.png

Pi Network has gained attention in recent years as a new trend in the cryptocurrency market, offering a unique approach to mining through a mobile app and attracting a large community. Let’s join AZC News to learn about Pi Network in this article.

What is Pi Network?

Pi Network is a cryptocurrency project created by a team of former Stanford University graduates. The project’s mission is to make cryptocurrency more accessible to the public.

The core development team includes two Stanford PhDs and one Stanford MBA, all of whom have extensive experience in building blockchain communities at Stanford.

Pi Network was initiated in 2019, but its mainnet (the official network) was launched in December 2021. Currently, Pi has not yet been listed on official cryptocurrency exchanges.

what is pi network

One distinctive feature of Pi Network is that it can only be mined using mobile devices.

Within Pi Network, there are four types of users:

  • Pioneers: Users who actively use the Pi Network mobile app daily.
  • Contributors: Users who use the app and create trusted networks of Pioneers.
  • Ambassadors: Individuals who introduce the Pi app to others and help them become new users.
  • Nodes: Users who are both Pioneers and Contributors.

How Pi Network Works

The operation of Pi Network is straightforward. Users need to download the Pi Network app on their mobile devices and register for an account. Afterward, they can press the “Start” button daily to mine Pi. The mining process continues even when the user’s device is not connected to the internet.

One important point to note about Pi mining is that the mining rate is inversely proportional to the number of participants. This means that as more people join, the amount of Pi earned per hour decreases. The current mining rate in Pi Network is 0.0095 Pi/hour, which is considered quite low if you don’t have a large network of connected users.

How Pi Network Works

Users can increase their earnings by inviting others to join the Pi Network community, thus increasing their hourly Pi earnings.

After 3 days of mining, participants can increase their earnings by creating a security circle, which also contributes to the overall network’s security. Longer-standing members of the network have higher mining rates compared to newcomers.

Impressive Pi Network Statistics

Although Pi Network has not yet been listed on official exchanges, it has achieved significant milestones, including:

  • 47 million members participating in mining.
  • A substantial social media following with 2.6 million followers on Twitter, 1.5 million on Facebook, and 1.22 million subscribers on YouTube.

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These statistics, as of the time of writing, make Pi Network one of the largest cryptocurrency-related communities in terms of user engagement.

Related: Top 5 Countries Creating Pi Network’s Success

Is Pi Listed on Exchanges?

Despite numerous rumors and speculations about Pi Network’s token listing, Pi has not yet been officially listed. However, some exchanges have listed Pi Network in the form of IOUs (I Owe You). This means users can buy Pi Network tokens on these exchanges, and once Pi gets officially listed, the exchange will deliver the purchased Pi tokens to the users.

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The current price of Pi Network in HTX is approximately $37

What is the Real Value of 1 Pi Network Coin in USD?

Although Pi Network is predicted by the community to reach 3140 USD or 314 USD, the current trading price of Pi Network on exchanges such as Bitmart and HTX about 36 USD, and OTC (over-the-counter) trades are ranging from $30 to $40 per Pi.

After KYC (Know Your Customer) verification is completed, users can transfer Pi between wallets within the Pi ecosystem, which is currently the only means of Pi Network trading. Pi Network will be a long-term cryptocurrency project, so follow to AZC News to update more information about PI Network

Frequently Asked Questions (FAQs) about Pi Network:

1. What is Pi Network? Pi Network is a cryptocurrency project initiated in 2019 by a team of former Stanford University graduates. Its mission is to make cryptocurrency more accessible to the public.

2. Who are the core developers of Pi Network? Pi Network DeFi was founded by two Standford Ph.Ds, Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. The two widely respected computer scientists have extensive formal backgrounds in computational engineering and social sciences.

3. What is the Maximum Token Supply of Pi Network DeFi? Pi Network DeFi has a maximum supply of 10,000,000,000 Pi tokens, all of which are reportedly in circulation to date.

4. How can Pi Network be mined? Pi Network can only be mined using mobile devices by downloading the Pi Network app and registering for an account. Users can press the “Start” button daily to mine Pi, and this process continues even when the device is not connected to the internet.

5. What are the different types of users in Pi Network? There are four types of users in Pi Network: Pioneers (daily users of the mobile app), Contributors (users who create trusted networks of Pioneers), Ambassadors (those who introduce the app to new users), and Nodes (users who are both Pioneers and Contributors).

5. How does the mining rate in Pi Network? The mining rate in Pi Network is inversely proportional to the number of participants. As more people join, the amount of Pi earned per hour decreases. Currently, the mining rate is 0.0095 Pi/hour.

6. How can users increase their earnings in Pi Network? Users can increase their earnings by inviting others to join the Pi Network community, thereby increasing their hourly Pi earnings. Additionally, creating a security circle after 3 days of mining can also boost earnings and contribute to the network’s security.

7. Is Pi Network listed on cryptocurrency exchanges? As of the time of writing, Pi Network has not been officially listed on cryptocurrency exchanges. However, some exchanges offer Pi Network in the form of IOUs, which can be bought by users. Once Pi is officially listed, the purchased tokens will be delivered to users.

8. What is the current price of 1 Pi Coin ? The current price of Pi Network in IOU form on exchanges like HTX and Bitmart is approximately $36

9. What is the value of 1 Pi Coin in USD? While the community predicts that Pi Network could potentially reach $3140 or $314 USD, the current trading price of Pi Network on exchanges like XT.com and HTX is around $36 USD. OTC trades are ranging from $30 to $40 per Pi.

10. How can Pi Network be traded or transferred? Users can transfer Pi between wallets within the Pi ecosystem once KYC (Know Your Customer) verification is completed. This is currently the only means of Pi Network trading.

11. Is Pi Network a long-term cryptocurrency project? Yes, Pi Network is considered a long-term cryptocurrency project. It aims to make cryptocurrency more accessible to the public and has achieved significant user engagement and growth in its community.

5.0/5

(133 votes)
  1. Avatar of KoZawMinLay
    KoZawMinLay

    The value of AZCoiner or AZC Price?

    • Avatar of nafise
      nafise

      #AzCoiner #PiNetwork

  2. Avatar of NWOTA MIRACLE EZEABUHOCHI
    NWOTA MIRACLE EZEABUHOCHI

    Azcoiner news is very good, legitimate and excellent!.
    A very big thank to Azcoiner CEO and global team and community! 👍👍. I love it, let keep flying to the Moon 🌕🌕✈️✈️🛩️🛩️🚀🚀!

  3. Avatar of Cyrilekechigozie
    Cyrilekechigozie

    I normally think and grow with my experience in this global word, I say kudos to one who discover pi network because this is the future, cash is no longer the future, It is now a business online, For the generation generation to come in this global world we are the future, in my own terms you have a duplicate to The generation upcoming teached them how to mine coin and how to trade online because it is no longer buying and selling as usual the word has not reached in it ends, a very big thanks to pi network and pi minet and also very big thanks to the CEO manager pi pi.

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