Pi Network: Smartphone Mining App | Pi Cryptocurrency

Pi Network introduces an easy way to mine cryptocurrency through your smartphone. As of February 2021, the smartphone mining application has more than 13M+ Pioneers.

In particular, the network is promoted by its users. Essentially, users describe the advantages of the platform and they provide referral names to boost their revenue. Membership is still by invitation only, which allows users to reach out to family and friends first.

Aside from these, what is Pi Network? Let us find out here.

What Is Pi Network?

Pi Network presents itself as a cryptocurrency and smart contracts network secured and operated by everyday people. Particularly, it is a blockchain mining project that is accessible to everyone with a smartphone.

Users mine once a day by pressing one button and it takes less than 10 seconds. The main goal of the Pi Network is to make crypto reachable for most people. Even more, it aims to empower crypto mining using a smartphone app.

Furthermore, the Pi Network does not utilize the energy-intensive algorithm used by BTC to verify users. Rather, Pi secures its ledger when members vouch for each other as trustworthy through social “security circles”. By using social security circles instead of an intense algorithm, Pi can be used through a free application on a typical smartphone.

What are Social Security Circles?

Security circles are groups of 3–5 trusted people built Stanford’s blockchain community by each of Pi’s members. The noble invention secures the currency by building a global trust graph that prevents bad actors from executing fraudulent transactions.
Following then, social circles allow crypto mining on your phone by leveraging your existing social connections, with no financial cost, no battery drain, and a light footprint on the planet. Notably, the interlocking security circles create a global trust graph that determines who can be trusted to execute transactions.