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PI Coin: What the Project Is Actually About
- Pi, launched in 2019 by Stanford graduates Dr. Kokkalis and Dr. Fan, aims to create an inclusive peer-to-peer ecosystem.
- Unlike Bitcoin, Pi uses an energy-efficient mobile mining method inspired by the Stellar Consensus Protocol.
- Users mine Pi by tapping a button daily, participating in Security Circles to secure the network.
- The ecosystem has roles like Pioneers, Contributors, Ambassadors, and Node Operators with a capped supply of 100 billion PI.
- Pi Network evolved through Beta, Testnet, Enclosed Mainnet, and Open Mainnet stages, becoming tradeable on various exchanges.
- Future plans include supporting dApps, a peer-to-peer marketplace, and integrating identity and payments.
- Despite having over 60 million users globally, Pi Network faces criticisms regarding centralization, transparency, and a pump-and-dump risk.
- Users can buy and use PI on select exchanges like OKX, Gate, Bitget, and MEXC but major platforms like Binance and Coinbase have not listed it.
- Pi Coin aims to democratize cryptocurrency through mobile mining and social consensus, with a user-friendly design.
- Challenges include centralization issues, lack of technical documentation, and token volatility, with the future success dependent on roadmap delivery and community transparency.
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