What Is Pi Network?

What Is Pi Network?

Pi Network is a social cryptocurrency, developer platform, and ecosystem designed for widespread accessibility and real-world utility. It enables users to mine and transact Pi using a mobile-friendly interface while supporting applications built within its blockchain ecosystem.

Supply Model and Mining Mechanism

Pi Network follows a negative exponential declining token issuance model, where mining rates decrease over time based on time and network growth and participation. Ecosystem and Adoption Pi Network has built an integrated ecosystem that facilitates real-world transactions and decentralized applications. Pi can be used as a medium of exchange for goods and services, including online commerce and local brick-and-mortar businesses. Users can engage with Core Team and community-built apps in the Pi ecosystem through the Pi Browser, where integrated features like the Pi Wallet provide a seamless experience. Events like PiFest 2024 showcased Pi’s growing adoption, with over 27,000 active sellers and 28,000 test merchants across 160 countries.

Who Are the Founders of Pi Network?

Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both of whom have PhDs from Stanford University and a passion for improving human lives through technology.

Dr. Nicolas Kokkalis is a Stanford PhD in EE and postdoc in CS with research on distributed systems and human-computer interaction. His work focuses on combining distributed systems and human computer interaction to bring cryptocurrency to everyday people. As a strong and long-term believer of the technical, financial and social potential of cryptocurrencies, he is determined to move them beyond their current limitations and is committed to bringing the power of blockchain to more people. Dr. Chengdiao Fan holds a Stanford PhD in Anthropological Sciences, harnessing social computing to unlock human potential on a global scale.

Chengdiao is building Pi Network to mobilize individuals all over the world to participate and be rewarded for their contributions, and establish aninclusive ecosystem for global citizens to unleash and capture their own agency, and in turn create utilities and productions for society and the world.

Compliance and Identity Verification

Pi Network follows a one-account-per-person policy through its Know Your Customer (KYC) solution. This system combines machine automation and human verification to authenticate user identities while preserving privacy.The KYC process emphasizes real individuals, combats fraudulent activities and enables fair participation in the mining process of the network. Pi’s identity verification approach balances scalability, security, and accessibility, allowing millions of users worldwide to validate their accounts while maintaining regulatory compliance.

Where can you buy Pi Network?

PI tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Pi Network is OKX, where the most active trading pair PI/USDT has a trading volume of $51,668,952 in the last 24 hours. Other popular options include MEXC and Gate.io.

What is the daily trading volume of Pi Network (PI)?

The trading volume of Pi Network (PI) is $229,399,491 in the last 24 hours, representing a -36.50% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Pi Network (PI)?

Pi Network (PI) reached an all-time high of $2.99 and an all-time low of $0.6157. It’s now trading 40.36% below that peak and 189.40% above its lowest price.

What is the market cap of Pi Network (PI)?

Market capitalization of Pi Network (PI) is $12,789,296,077 and is ranked #12 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of PI tokens (7.2 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Pi Network (PI)?

The fully diluted valuation (FDV) of Pi Network (PI) is $19,675,840,118. This is a statistical representation of the maximum market cap, assuming the maximum number of 100 Billion PI tokens are in circulation today. Depending on how the emission schedule of PI tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Pi Network compare against its peers?

With a price decline of -6.10% in the last 7 days, Pi Network (PI) is underperforming the global cryptocurrency market which is down -0.10%, while underperforming when compared to similar Layer 1 (L1) cryptocurrencies which are up 1.70%.