What is Pi Network?
Pi Network is a cryptocurrency project whose goal is to make crypto mining accessible to all users. The centralization of first-generation digital currencies such as Bitcoin made them unavailable to everyday users. Therefore, unlike Bitcoin miners, Pi miners will enjoy the benefits of improved accessibility.
The Pi network was developed by graduates of Stanford University, and it allows users to mine coins from its mobile app. Transactions are verified on distributed records during mining. Pi is supported by blockchain technology.
The first phase of the project was launched on Pi Day on March 14, 2019, and a free Pi mining mobile application was provided. As of June 2019, the Pi network platform has more than 100,000 active users.
One year later, the second phase of the project started, and the Pi network platform gained more than 3.5 million users. The Pi application started advertising on the Pi network in May 2020, and these ads funded the Pi network project. In March 2021, after the Pi network broke the 12 million mark in February, it already had 14 million users.
The Pi network platform provides the infrastructure to run Pi Coin. Just like other cryptocurrencies such as Bitcoin, their scarcity needs to be protected. This is why it will go through a regular "halving" process. After reaching the milestone, the number of coins used by miners to process new transactions was reduced by half.
After the Pi blockchain reached 100,000 users, the rate of mining Pi coins was halved from 1.6 π per hour. After its user base reached 1 million, it halved again to 0.4 π, and after reaching 10 million, it halved again to 0.2 π. This trend is expected to continue to reach 0 after reaching 1 billion users.
In the process of Pi cryptocurrency mining, Pi nodes use a consensus algorithm based on Stellar Consensus Protocol (SCP) to verify transactions and reach consensus with other Pi nodes. Some Pi users see it as a way to participate in cryptocurrency from scratch and make profits in the future.
Can you buy Pi cryptocurrency?
If you are considering buying Pi cryptocurrency and storing it in your Pi wallet, please note that this is impossible. Developers who mine Pi cryptocurrency will have the opportunity to exchange or withdraw their Pi cryptocurrency only in the third stage, when Pi network tokens will move to a fully decentralized blockchain. Pi Coin does not support transfer transactions during the testing phase. This will help prevent fake accounts from getting many Pi coins.
After the blockchain protocol is fully deployed, when the Pi network moves from the Pi test network to the main network, the Pi network wallet balance will be cashed out. Therefore, Pi Coin cannot be traded on any trading platform or cryptocurrency exchange.
After the start of Phase 3, Pi Coin holders will have full control of their public and private keys, and will use Pi Coins to purchase products and services on the Pi Market and exchange them for legal tender. Without the key, Pi cryptocurrency holders cannot transfer or spend the money they own.
The Pi Coin mobile app is equivalent to a cryptocurrency wallet, which is usually associated with the user's Facebook account or phone number. Like other public blockchains such as Bitcoin, the Pi network will enable external wallets to save Pi coins and conduct transactions by submitting them to the blockchain. However, the developers have not yet released the source code.
Pi developers also launched the Pi Brainstorming mobile app in December 2020 to allow users to join projects, come up with app ideas, and interact with other users.
Many Pi users are hoarding Pi coins, and it is expected that the value of Pi coins will increase after the third phase starts. When the value of Pi increases, it will bring good news to miners.
Although the mining rate of Pi coins has been halved, users can connect to other Pi network miners. To join the Pi network, a new user must have the invitation code of another Pi network user.
Some cryptocurrency enthusiasts have already begun to make Pi coin price predictions. In the next part of this article, we will discuss how the value of Pi Coin will change when it starts trading.
Network Pi Price Forecast (2021-2028)
The price of Pi can be predicted in the same way as Bitcoin price prediction. Like other cryptocurrencies that are being launched, the value of Pi is most likely to start at a low level against the U.S. dollar and increase as it attracts and gains more users.
But what do some platforms say about online price predictions? Let us get some answers.
On March 18th, Digitalcoinprice.com made a prediction for the Pi price from 2021-2025. They predict that the average price of Pi tokens against the U.S. dollar will rise from $0.0107 in 2021 to $0.0127 in 2022. They also predict that by 2025, the value of Pi tokens will reach $0.0212. By 2028, the value of digital currency will reach $0.0319. However, Digitalcoinprice.com removed this information from its website on March 19.
Wallet Investor is an algorithm-based price prediction service. Its Pi token price forecast is 0.0132 USD, which is down to 0.00743 USD.
According to the Changelly cryptocurrency exchange, if the Pi token is launched at the end of 2021, depending on the exchange and the number of users who adopt it, the price of the Pi network may reach $1 in a bull market. The Changelly Pi network price forecast also shows that by 2025, the price of Pi may rise to $5.
Pi Coin's future conjecture
Pi network is a smart contract network designed to provide the public with opportunities to use cryptocurrency. Unlike Bitcoin mining, the Pi network cryptocurrency project aims to make crypto mining accessible to all users. It will solve the inaccessibility problem caused by the centralization of first-generation currencies such as Bitcoin digital currency.
The Pi network allows its users to mine coins and conduct transactions from its mobile app. Use the Pi web application to verify transactions on distributed records during mining.
Pi is periodically "halved" to prevent its scarcity. After reaching the milestone, the number of coins used by miners to process new transactions was reduced by half.
FAQ
When will Pi cryptocurrency enter the cryptocurrency market?
Pi cryptocurrency will be launched in the third stage of Pi network development. The release date has not yet been announced. However, this will depend on the progress of the testing phase and the listing of digital currencies on cryptocurrency market exchanges.
What is the expected value of Pi?
Currently, Pi has no value and is not listed on any cryptocurrency trading platform. Although it is difficult to predict its value before launch, the Pi network price forecast shows that the value of the Pi network will start to exchange against the US dollar around 0.01. If this Pi price prediction becomes a reality, it will be good news for miners.
Is Pi Coin a good investment?
Currently, Pi cryptocurrency cannot be traded. If you think that the Pi network project will launch an accessible cryptocurrency and will not set prices for users every day, then you can start Pi mining. You can also wait to buy on the exchange.
If you are considering buying Pi cryptocurrency and storing it in your Pi wallet, please note that this is impossible. Developers who mine Pi cryptocurrency will have the opportunity to exchange or withdraw their Pi cryptocurrency only in the third stage, when Pi network tokens will move to a fully decentralized blockchain. Pi Coin does not support transfer transactions during the testing phase. This will help prevent fake accounts from getting many Pi coins.
After the blockchain protocol is fully deployed, when the Pi network moves from the Pi test network to the main network, the Pi network wallet balance will be cashed out. Therefore, Pi Coin cannot be traded on any trading platform or cryptocurrency exchange.
After the start of Phase 3, Pi Coin holders will have full control of their public and private keys, and will use Pi Coins to purchase products and services on the Pi Market and exchange them for legal tender. Without the key, Pi cryptocurrency holders cannot transfer or spend the money they own.
The Pi Coin mobile app is equivalent to a cryptocurrency wallet, which is usually associated with the user's Facebook account or phone number. Like other public blockchains such as Bitcoin, the Pi network will enable external wallets to save Pi coins and conduct transactions by submitting them to the blockchain. However, the developers have not yet released the source code.
Pi developers also launched the Pi Brainstorming mobile app in December 2020 to allow users to join projects, come up with app ideas, and interact with other users.
Many Pi users are hoarding Pi coins, and it is expected that the value of Pi coins will increase after the third phase starts. When the value of Pi increases, it will bring good news to miners.
Although the mining rate of Pi coins has been halved, users can connect to other Pi network miners. To join the Pi network, a new user must have the invitation code of another Pi network user.
Network Pi Price Forecast (2021-2028)
The price of Pi can be predicted in the same way as Bitcoin price prediction. Like other cryptocurrencies that are being launched, the value of Pi is most likely to start at a low level against the U.S. dollar and increase as it attracts and gains more users.
But what do some platforms say about online price predictions? Let us get some answers.
On March 18th, Digitalcoinprice.com made a prediction for the Pi price from 2021-2025. They predict that the average price of Pi tokens against the U.S. dollar will rise from $0.0107 in 2021 to $0.0127 in 2022. They also predict that by 2025, the value of Pi tokens will reach $0.0212. By 2028, the value of digital currency will reach $0.0319. However, Digitalcoinprice.com removed this information from its website on March 19.
Wallet Investor is an algorithm-based price prediction service. Its Pi token price forecast is 0.0132 USD, which is down to 0.00743 USD.
According to the Changelly cryptocurrency exchange, if the Pi token is launched at the end of 2021, depending on the exchange and the number of users who adopt it, the price of the Pi network may reach $1 in a bull market. The Changelly Pi network price forecast also shows that by 2025, the price of Pi may rise to $5.
Pi Coin's future conjecture
Pi network is a smart contract network designed to provide the public with opportunities to use cryptocurrency. Unlike Bitcoin mining, the Pi network cryptocurrency project aims to make crypto mining accessible to all users. It will solve the inaccessibility problem caused by the centralization of first-generation currencies such as Bitcoin digital currency.
The Pi network allows its users to mine coins and conduct transactions from its mobile app. Use the Pi web application to verify transactions on distributed records during mining.
Pi is periodically "halved" to prevent its scarcity. After reaching the milestone, the number of coins used by miners to process new transactions was reduced by half.
FAQ
When will Pi cryptocurrency enter the cryptocurrency market?
Pi cryptocurrency will be launched in the third stage of Pi network development. The release date has not yet been announced. However, this will depend on the progress of the testing phase and the listing of digital currencies on cryptocurrency market exchanges.
What is the expected value of Pi?
Currently, Pi has no value and is not listed on any cryptocurrency trading platform. Although it is difficult to predict its value before launch, the Pi network price forecast shows that the value of the Pi network will start to exchange against the US dollar around 0.01. If this Pi price prediction becomes a reality, it will be good news for miners.
Is Pi Coin a good investment?
Currently, Pi cryptocurrency cannot be traded. If you think that the Pi network project will launch an accessible cryptocurrency and will not set prices for users every day, then you can start Pi mining. You can also wait to buy on the exchange.
Pi Network price prediction 2021-2028
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八月 05, 2021
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Reviewed by mattkaydiary
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八月 05, 2021
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