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What is PI
Learned by 27.6k usersPublished on 2024.03.29Last updated on 2025.06.04
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Note: The project description is sourced from official materials provided by the project team. However, it is important to note that these materials may be outdated, contain errors, or omit certain details. The provided content is for reference purposes only and should not be considered investment advice. HTX does not assume any liability for any direct or indirect losses incurred as a result of relying on this information.
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1. Project Introduction
1. What Is Pi?
Pi Network is a project that lets users mine cryptocurrency on a mobile device. It aims to drive mainstream adoption of crypto and lower the barriers to entry, allowing anyone with a smartphone to mine and earn Pi tokens. Pi Network uses the Stellar Consensus Protocol (SCP), which enables mobile mining without significantly affecting device performance or battery life.
2. How Does Pi Work?
Pi Network is based on the Stellar Consensus Protocol (SCP) and an algorithm called Federated Byzantine Agreement (FBA). Such algorithms don's waste energy but they require exchanging many network messages in order for the nodes to come to “consensus” on what the next block should be. Each node can independently determine if a transaction is valid or not, e.g., authority of making the transaction and double spending, based on the cryptographic signature and the transaction history. However, for a network of computers to agree on which transactions to record in a block and the order of these transactions and blocks, they need to message each other and have multiple rounds of voting to come to consensus.
Pi's consensus algorithm builds atop SCP. Unlike Stellar Network consisting mostly of companies and institutions (e.g., IBM) as nodes, Pi intends to allow devices of individuals to contribute on the protocol level and get rewarded, including mobile phones, laptops and computers. There are four roles Pi users can play, as Pi miners. Namely:
* Pioneer: A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g., make a payment in Pi to another Pioneer).
* Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.
* Ambassador. A user of the Pi mobile app who is responsible for introducing other users into Pi network.
* Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer.
3. Who Founded Pi?
Pi Network was launched in 2019 by a team of Stanford University graduates.
Dr. Nicolas Kokkalis: Head of Technology. He is a Stanford Ph.D. in Computer Science and instructor of Stanford's first decentralized applications class, CS359B, in 2018. His work focuses on distributed systems and decentralized tech.
Dr. Chengdiao Fan: Head of Product. She is a Stanford Ph.D. in Anthropological Sciences, and her research interests have focused on human-computer interaction and social computing.
4. Pi Tokenomics
Pi's token supply is structured in two phases:
Phase 1: Pre-Mainnet
* The mining rate halved as the user base grew. There was no fixed supply cap until the Mainnet launched.
Phase 2: Post-Mainnet
* The maximum supply is 100 billion Pi tokens, of which 80% is allocated to the community and 20% to the Core Team to ensure the long-term development and rewards for the community and the ecosystem.
5. Timeline of Key Milestones
Phase 1: Beta
In December 2018, Pi Network publicly launched its mobile app on the iOS App store as an alpha prototype. On Pi Day, March 14, 2019, the original Pi whitepaper was published, marking the official launch of the Pi Network.
Phase 2: Testnet
This phase started on March 14, 2020. Pi Testnet allows for the testing of connectivity, performance, security, and scalability of the blockchain, and allows Pi apps developers to develop the Pi apps before they can deploy their app on the Mainnet.
Phase 3: Mainnet
On February 20, 2025, the Open Network officially launched. This will allow connectivity with external systems for the first time and Pi tokens to be more widely adopted in the real world.
2. Team & Investment Info
Team:Dr. Nicolas Kokkalis: Head of Technology, with a Ph.D. in Computer Science from Stanford University, specializing in distributed systems and decentralized technologies.
Dr. Chengdiao Fan: Head of Product, with a Ph.D. in Anthropology from Stanford University, focusing on human-computer interaction and social computing.
Funding: No external funding disclosed.
3. Social Media URLs
X: https://x.com/PiCoreTeamTelegram: https://t.me/PiNetworkDeFi
4. Token Info
Token Symbol: PITotal Supply: Undisclosed
Token Type: Native to the Pi Network blockchain
Issuance/Burn Mechanism: Controlled by mining and halving mechanisms, with specifics to be released at mainnet launch.
For details, please refer to the white paper: https://www.pinetworkdefi.fun/pinetworkdefi.whitepaper.pdf
5. Related Links
Official Website: https://minepi.com/Other Info: https://www.rootdata.com/Projects/detail/Pi%20Network?k=MzI5
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What is PI
1. Project Introduction1. What Is Pi?Pi Network is a project that lets users mine cryptocurrency on a mobile device. It aims to drive mainstream adoption of crypto and lower the barriers to entry, allowing anyone with a smartphone to mine and earn Pi tokens. Pi Network uses the Stellar Consensus Protocol (SCP), which enables mobile mining without significantly affecting device performance or battery life.2. How Does Pi Work?Pi Network is based on the Stellar Consensus Protocol (SCP) and an algorithm called Federated Byzantine Agreement (FBA). Such algorithms don's waste energy but they require exchanging many network messages in order for the nodes to come to “consensus” on what the next block should be. Each node can independently determine if a transaction is valid or not, e.g., authority of making the transaction and double spending, based on the cryptographic signature and the transaction history. However, for a network of computers to agree on which transactions to record in a block and the order of these transactions and blocks, they need to message each other and have multiple rounds of voting to come to consensus.Pi's consensus algorithm builds atop SCP. Unlike Stellar Network consisting mostly of companies and institutions (e.g., IBM) as nodes, Pi intends to allow devices of individuals to contribute on the protocol level and get rewarded, including mobile phones, laptops and computers. There are four roles Pi users can play, as Pi miners. Namely:* Pioneer: A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g., make a payment in Pi to another Pioneer).* Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.* Ambassador. A user of the Pi mobile app who is responsible for introducing other users into Pi network.* Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer.3. Who Founded Pi?Pi Network was launched in 2019 by a team of Stanford University graduates.Dr. Nicolas Kokkalis: Head of Technology. He is a Stanford Ph.D. in Computer Science and instructor of Stanford's first decentralized applications class, CS359B, in 2018. His work focuses on distributed systems and decentralized tech.Dr. Chengdiao Fan: Head of Product. She is a Stanford Ph.D. in Anthropological Sciences, and her research interests have focused on human-computer interaction and social computing.4. Pi TokenomicsPi's token supply is structured in two phases:Phase 1: Pre-Mainnet* The mining rate halved as the user base grew. There was no fixed supply cap until the Mainnet launched.Phase 2: Post-Mainnet* The maximum supply is 100 billion Pi tokens, of which 80% is allocated to the community and 20% to the Core Team to ensure the long-term development and rewards for the community and the ecosystem.5. Timeline of Key MilestonesPhase 1: BetaIn December 2018, Pi Network publicly launched its mobile app on the iOS App store as an alpha prototype. On Pi Day, March 14, 2019, the original Pi whitepaper was published, marking the official launch of the Pi Network. Phase 2: TestnetThis phase started on March 14, 2020. Pi Testnet allows for the testing of connectivity, performance, security, and scalability of the blockchain, and allows Pi apps developers to develop the Pi apps before they can deploy their app on the Mainnet.Phase 3: MainnetOn February 20, 2025, the Open Network officially launched. This will allow connectivity with external systems for the first time and Pi tokens to be more widely adopted in the real world.2. Team & Investment InfoTeam:Dr. Nicolas Kokkalis: Head of Technology, with a Ph.D. in Computer Science from Stanford University, specializing in distributed systems and decentralized technologies.Dr. Chengdiao Fan: Head of Product, with a Ph.D. in Anthropology from Stanford University, focusing on human-computer interaction and social computing.Funding: No external funding disclosed.3. Social Media URLsX: https://x.com/PiCoreTeamTelegram: https://t.me/PiNetworkDeFi4. Token InfoToken Symbol: PITotal Supply: UndisclosedToken Type: Native to the Pi Network blockchainIssuance/Burn Mechanism: Controlled by mining and halving mechanisms, with specifics to be released at mainnet launch.For details, please refer to the white paper: https://www.pinetworkdefi.fun/pinetworkdefi.whitepaper.pdf5. Related LinksOfficial Website: https://minepi.com/Other Info: https://www.rootdata.com/Projects/detail/Pi%20Network?k=MzI5
27.6k Total ViewsPublished 2024.03.29Updated 2025.06.04
What is PI NETWORK DEFI
Pi Network DeFi (PI NETWORK DEFI) is a cryptocurrency launched in 2022and operates on the BNB Smart Chain (BEP20) platform. Pi Network DeFi has a current supply of 0. The last known price of Pi Network DeFi is 0.00004326 USD and is down -0.90 over the last 24 hours. It is currently trading on 5 active market(s) with $96.32 traded over the last 24 hours. More information can be found at https://www.pinetworkdefi.fun/.
288 Total ViewsPublished 2024.04.01Updated 2024.04.01
What is NICOLAS•PI•RUNES
NICOLAS•PI•RUNES: A Comprehensive Overview Introduction The realm of Web3 and cryptocurrency is continually evolving, with new projects emerging that push the boundaries of technology and community engagement. Among these is NICOLAS•PI•RUNES, a distinctive initiative poised to capture the interest of enthusiasts and investors alike. This article aims to dissect various aspects of NICOLAS•PI•RUNES, exploring its core principles, creator, investors, operational mechanisms, and significant milestones in its journey. What is NICOLAS•PI•RUNES? NICOLAS•PI•RUNES is a digital asset that operates within the ecosystem of the Pi Network, a blockchain initiative that has generated considerable buzz for its innovative methods of cryptocurrency mining and distribution. This project is characterized by its focus on inclusivity and community involvement, leveraging the enthusiasm of its user base to foster a thriving ecosystem. At its core, NICOLAS•PI•RUNES aims to empower users by allowing them to participate in the cryptocurrency space without the requirement for expensive hardware or technical expertise. This accessibility is one of its flagship features, offering an alternative to traditional mining methods that are often criticized for their resource-intensive nature and environmental impact. By encouraging participation through mobile devices, NICOLAS•PI•RUNES not only democratizes access to cryptocurrency mining but also promotes a sustainable approach to the burgeoning sector. Who is the Creator of NICOLAS•PI•RUNES? Information regarding the individual or team behind the creation of NICOLAS•PI•RUNES remains largely undisclosed. The project is intrinsically linked to the broader Pi Network, but specifics about its creator are not currently available. This lack of transparency about the leadership may raise questions among potential investors or users, who often prefer clarity in the origins and direction of such projects. However, the affiliation with the Pi Network does suggest a collaborative environment among developers and a shared vision to enhance the ecosystem's growth. Who are the Investors of NICOLAS•PI•RUNES? Currently, concrete information detailing the investors backing NICOLAS•PI•RUNES is not accessible. The lack of transparency about funding sources or supporting organizations can create uncertainty, particularly in an industry where investor confidence often hinges on knowledge of who is backing a project. This absence of information may raise red flags among interested parties, emphasizing the importance of trust and transparency in the cryptocurrency landscape. How Does NICOLAS•PI•RUNES Work? The mechanics of NICOLAS•PI•RUNES draw heavily from the innovative strategies employed by the Pi Network. One of the standout features of this project is its mobile-first approach to cryptocurrency mining. Unlike traditional cryptocurrency operations that typically require high-powered computers and significant energy consumption, NICOLAS•PI•RUNES allows users to mine directly from their smartphones. This process is facilitated through a unique consensus algorithm that simplifies mining, rendering it not only accessible but also energy-efficient. Users engage in this activity with minimal impact on their devices, effectively turning their phones into mining units. This model attracts a wider audience and encourages mass participation, driving the project's goal of creating an inclusive community. Furthermore, the collaboration with the Pi Network enhances the overall framework of NICOLAS•PI•RUNES, providing users with an established platform that boasts a sizable user base. This community-oriented approach is crucial for the sustainability and growth of NICOLAS•PI•RUNES, as it thrives on user engagement and contribution. Timeline of NICOLAS•PI•RUNES Launch: While specific launch dates for NICOLAS•PI•RUNES remain ambiguous, the project is closely associated with the developmental milestones of the Pi Network. Association with Pi Network: The partnership and alignment with the Pi Network are fundamental to the identity and operational strategy of NICOLAS•PI•RUNES. Market Activity: Following its integration, NICOLAS•PI•RUNES has seen notable market engagement, evidenced by numerous transactions that reflect an active user base and ongoing interest in the project. Future Prospects: Unfortunately, detailed information regarding potential mainnet launches or further developmental phases is lacking, indicating a level of uncertainty that may be a point of concern for prospective users and investors. Key Points About NICOLAS•PI•RUNES The key characteristics that distinguish NICOLAS•PI•RUNES are: Innovative Mining Approach: The project's reliance on the Pi Network's mobile mining capabilities represents a significant departure from conventional cryptocurrency mining, making it more approachable and sustainable. Community-Centric Culture: The focus on cultivating enthusiasm among Pi users indicates a robust community-driven initiative, underscoring the importance of user engagement in its operational model. Developmental Ambiguity: The uncertainty surrounding the project’s future, particularly regarding timelines for major developments such as the mainnet launch, highlights an area where additional clarity would benefit the project's reputation. Conclusion NICOLAS•PI•RUNES embodies an innovative spirit within the cryptocurrency landscape, aligning closely with the pioneering efforts of the Pi Network. The project seeks to leverage the evolving dynamics of mobile-based cryptocurrency mining while fostering an inclusive environment for users. However, certain aspects such as the anonymity of its creators, lack of transparency regarding investors, and unclear future direction present challenges that could impact its appeal. As the crypto and Web3 space continues to develop, the evolution of NICOLAS•PI•RUNES will undoubtedly be watched with keen interest by both enthusiasts and investors alike. In sum, NICOLAS•PI•RUNES stands as a potential trailblazer in crafting a more accessible cryptocurrency ecosystem, but like many in the industry, its success will depend on clear communication, community engagement, and strategic development moving forward.
0Published 2024.07.16Updated 2024.12.03
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