Thursday, December 10, 2020

What is pi coin(π Coin)?



 What is pi coin(π Coin)

How does the Pi Network (π Coin), recognized as the most valuable in the world, work?


Pi coin is the first digital currency of the public and represents an important step in the adoption of global cryptocurrency. Pi Network aims to realize a low-access, low-cost cryptocurrency network that everyone can participate in. Anyone can start mining as long as they download the APP of the official website with a mobile phone, and all the π is dug out by the user. 1-π is the symbol of pi, which is used internationally and basically everyone knows it!


Pi Network: It is said that it is a mobile phone mining software launched by Stanford University. The app has built-in chat rooms in 43 countries and has registered 900,000 people abroad.


  It is estimated that the future value of pi coin is also known as Picoin. Experts launch one worth 120 to 200 US dollars


All free only need mobile phone


Just click the green sign every day


No data consumption, no power consumption


As the world becomes more and more digital, cryptocurrency is the next natural step in currency development. Pi coin is the first digital currency of the public and represents an important step in the adoption of global cryptocurrency.


Pi Network aims to realize a low-access, low-cost cryptocurrency network that everyone can participate in. Anyone can start mining as long as they download the APP of the official website with a mobile phone, and all π is dug out by the user.


Features of Pi Coin


1-π is the symbol of pi, which is used internationally and basically everyone knows it! The most important thing is that π coin is a public chain! !


2- Zero investment, free mining! The threshold is low, everyone can participate!


The source of 3-π coins is mined by all participating miners, there is nothing special, even the founder is the same as us! No routine!


4-If you want to participate in the π ecosystem, you must own π coins, either dig it yourself or buy it on the secondary market!


5-Promotion has no team rewards, no subordinates, mutual donation of computing power, consensus mining!


6-The role of the security circle can not only double the computing power, but also protect the security of account assets!



Mining mode


Pi Network's client can be downloaded on the official website (Note: Apple Store or Google Play), registration is not restricted by region, but everyone can only complete the final registration through another person's invitation code. After the registration is successful, you can start mining. The entire mining process does not consume power or even needs to be turned on. You only need to click the mining button on the right side of the screen every 24 hours to synchronize your Pi number with the server and continue mining mine. At present, the mining of Pi coins is only an addition calculation once a day, and there is no harm to the mobile phone.


At this stage, Pi’s default initial mining revenue is 0.39π/h. The total mining revenue is composed of three parts: initial mining revenue, security circle revenue, and fission user revenue. Just add the contact users in the APP to the security circle. To get the security circle income, 5 people are online. (Note: A security circle can be regarded as a secure node, and the revenue of the security circle can be considered as node incentives) The income a person can bring to the security circle and the initial mining income will be halved as the number of users grows. Currently Pi The number of users is less than one million, and the two revenues are 0.39 and 0.08 respectively. After reaching one million users, the two will become 0.19 and 0.04. The upper limit of 5 people determines that the security circle can provide up to 100% increase in initial revenue . After the total number of users exceeds 10 million, the official mining rewards may be cancelled, but the plan has not yet been determined.


Using the invitation code to invite others to join the Pi network can bring fission revenue for themselves. Each user will receive 25% of the total revenue of his fission user (note: it is not shared with fission users, the revenue is additional), single The maximum benefit is theoretically "infinite".


First talk about the background:


The core team of Pi Coin is developed by three doctoral students from Stanford University in the United States. Among them, the core founder has received fund rewards from Facebook for a few years, which is why Pi Coin can be logged in through Facebook. .


Let's talk about a phase of it:


At present, the Pi coin was introduced to the country in July this year. In just two months, it expanded rapidly and became extremely popular.


Even if it is October, it has only been three months before entering the country. It is still a bonus period, which is the second stage.


Next month, in November, Pi Coin will open an internal trading port. Once this trading port, the price of the currency will surely rise rapidly, but it does not rule out the possibility of being smashed.


However, after the internal trading port is online, the possibility of being smashed is minimal, because it will be listed on the exchange next year.


As far as I know, there are currently domestic exchanges with a trading volume of no less than 300 million yuan, which are closely watching the fatty meat of Pi.


At the same time, some domestic exchanges have also begun to participate in mining.


After all, in the second stage, Pi is still very friendly to early users.


Let's talk about the future:


Pi Coin aims to allow every ordinary person to participate in mining, eliminating the high cost of mining in the past. From this point of view, it is a mining revolution. In the Internet age, various projects on the PC side are constantly migrating to the mobile side.


At the current node, Pi broke the convention and adopted the method of free mining on mobile phones to attract users to the market, which is precisely the rhythm of the Internet.


At present, there are 500,000 miners in the world participating in mining. This number of people is not a force that cannot be ignored in any place.


Because no matter what project is opened in the future, a large number of people will continue to enter the market. Once a project has traffic, the prospects should not be underestimated.


Pi Coin is still in its infancy, and the number of domestic mining people is not particularly large. In the future, more and more people will join to mine with mobile phones for free, and there will be no more bonus periods.


So if you start to intervene in mining now, you can still embark on the rhythm of the bonus period. No investment, no traffic, no electricity, free projects, get in the car first, occupy a seat, this is the best way to face new things!


Economic model


The total amount of Pi will consist of three parts, mining income, fission income and developer rewards. Among them, mining revenue will become less and less until it disappears. If the total number of people on the network does not increase, Pi will be issued unlimitedly, but once the total number of people reaches the standard, the mining reward will be reduced, the issuance of Pi will be deflated, and it will become difficult to obtain Pi. This design makes every user and holder The rational choice of coin holders is to continuously develop new users until the mining rewards return to zero, which will greatly benefit the security and governance of the entire network after the mainnet goes live in the future.


Developer rewards will also be generated by mining, but compared to many “pre-mining” projects, the mining process of Pi Network’s developer rewards is designed to dynamically adjust with the fission of users, and it will follow the entire network. Grow and grow. Up to now, the project party has not announced a specific developer reward design mechanism. Considering that the entire project is currently running on a centralized server, the "developer reward" in the hands of the project party undoubtedly obscures the degree of decentralization of the Pi Network economic model.


The icon for Pi is π


It is the pi, and the number is 3.14. This is a global mathematical symbol. Almost people all over the world recognize this symbol. In English-speaking countries, the English word for π is Pi, so the birth date of Pi was chosen on March 14. , And choose to officially launch the exchange on March 14, 2020. And every year on March 14th, there will be a π celebration day, and it is a coincidence that Einstein's birth day is March 14.


3.14 is a very commemorative number for Pi and also a very symbolic date. And the Pi icon is upgraded on the basis of π, adding two dots to π, which looks like two people holding their shoulders, which means that π links everyone. Linked together as the three founders showed in the APP.


1. Volunteers:


After registering, they are Pi volunteer miners. The 24-hour computing power is 0.39π/h, and Pi coins accumulate to individual accounts every second; this is everyone's basic computing power. If it reaches 1 million miners, the computing power will be halved. At the current rate of development, it is expected to reach 1 million miners around the end of the year, and the output will be halved by then.


Each time the basic rate of mining is halved, the number of active users will increase 10 times. When the network reaches a certain number of users (such as 10 million or 100 million), this rate will eventually drop to zero. Until then, just like Bitcoin, miners will continue to receive returns through transaction fees instead of minting new currencies.




2. Contributors:


The computing power of the security circle, as long as you have dug for 72 hours and the phone is authenticated, you can establish your own security circle. Everyone in the security circle can contribute 0.08π/h/person, 5 people are a 100% security circle, and the upper limit of computing power is 0.39π/h; that is, for every person invited, as long as he has verified his mobile phone, you can add it to yourself Security circle. Even if you do not invite anyone, you can add your inviter to your safety circle after 72 hours of mining, and you can still form a safety circle with 20% computing power, that is, an increase of 0.08π/h. This is one of the computing power your inviter contributes to you.


3. Invite the ambassador:


Before there is a safety circle, the person you invite can contribute 25% of the computing power to you, which is 0.1π/h/person. After a 100% safety circle is established, the computing power of the invited ambassador will double to 0.2π/h /people. You click on the list of people who invite ambassadors. The first one is your inviter. It is the first person to contribute computing power to you. It is earlier than the one you invited. This is yours. Inviting people to contribute to you the second of computing power.


4. Node computing power:


We can see that Pi's economic model has been upgraded from the previous first-generation POW such as BTC and LTC. One is that Pi uses everyone's idle resource mobile phone to mine. At the end of 2018, the number of global smartphone users was 3.666 billion. The number of mobile phone users worldwide is more than that of PCs, and the number of PC users is more than encrypted wallet users. Instead of buying professional mining machines like BTC and LTC, you need to invest capital before output. The second is that miners attract traffic through the invitation system. The most important thing is that the inviter A and the invitee B contribute to each other's computing power, and the computing power of the inviter and the invitee is a mutual contribution relationship. A invited friend B. In the case of establishing a safety circle, B can contribute up to 0.2π/h to A, but A can contribute two parts of computing power to B: 1. The safety circle is 0.08π/h/person; 2. Invite Ambassador 0.2π/h/person, A can contribute 0.28π/h to B, and B can only contribute 0.2π/h/person to A at most. Halve before establishing a safety circle. The contribution of the inviter is only one level, so every inviter of Pi is an evangelist.


The interests of the global miners of Pi coin are highly consistent. Because any one of A and B does not mine, the other party will be affected. To put it simply, if you don’t mine online, you won’t get the computing power he contributed to you. If you don’t order mining, your superior will not get the computing power you contributed to him, so the computing power contributes to each other. Fully consistent. In the previous economic model, the superior can obtain the benefits of the subordinate, and no subordinate can obtain the benefits of the superior. The Pi mechanism completely breaks this mechanism. In this economic model of mutual contribution of computing power, the interests of global miners are highly consistent, and all global miners are empowering Pi.


The pi mainnet is online in the top 10 market capitalizations, and it only takes half a year or a year to witness this day. Persisting in mining pi now is the same as the miners who persisted in mining BTC in 2012. The Pi project is already an early opportunity, the project is successful, and the current miners must be the first beneficiaries.


How to mobile mining


 After downloading and registering, you must verify with your mobile phone. If you don’t mine, it will be invalidated. There is a detailed tutorial below.


1. Android system APP:


website download: https://minepi.com/kokning


Invitation code: kokning


IPhone: Google Store can download


The Apple Store needs to use an ID (not in mainland China) to download. The ID can be switched in the phone settings-iTunes Store and App Store.


The most popular pi coin (π coin) mining that everyone has played, many people say that Apple phones can’t register and it’s difficult to download. In fact, what I want to say is that after registering more than 20 iPhone users, I think Apple Mobile phone registration and authentication are simple.


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