Pi network is unique in excellent ways; for some, it is easy to mine Pi coins as you can also download its app on your mobile phone and join the Pi community after receiving an invitation from a member. The Pi app is environmental-friendly that not even drain your phone’s battery. The user only needs to open the Pi app once daily to mine Pi cryptocurrency. Moreover, it is possible to increase your mining rate in various ways; the mining rate is higher for new members, and if you invite others, you will get a 25% bonus per user. You can become a contributor if 3 to 5 people of your connection join this platform via your invitation link. It will improve your security and enhance your earning rate. Pi nodes develop security groups among three to five users to build global trust to prevent fraudulent transactions. Transactions can only be made if all Pi holders accept them.
The network's primary goal is to make the mining process more accessible. You don't have to use a proof-of-stake (PoW) system like in mining Bitcoin, but Pi nodes are based on an algorithm that uses the Stellar Consensus Protocol (SCP). Pi nodes confirm transactions on the distributor ledger and consent to new transactions according to the ledger records.
History of the Pi Network (PI)
The Pi network project is divided into stages. On March 14, 2019, Pi Day, Phase 1, was inaugurated. The network had over 100,000 active users as of June 2019.
Phrase 2 began a year later when there were 3.5 million active members. The first Pi advertisements were released in May 2020 to help fund the project.
On November 25, the total number of active Pi network users in less than a year surpassed 29 million.
When a specific milestone is attained, halving occurs. For example, when the Pi coin approached 100,000 active users, the mining rate was cut from 1.6 per hour to 0.6 per hour. When the percentage of subscribers hit 1 million, the following dropping to 0.4 was reported. When the 10 million user mark was attained, the value was reduced to 0.2.
Phase 3 is set to begin on December 29, 2021. According to the Pi roadmap, the network hosted its inaugural hackathon comprising BuildPi2gether, welcomed new developers, contributed to apps, and improved network functioning.
Consequently, the best projects in each category received $100,000 and 100,000 Pi coins.
In the realm of cryptocurrencies, the Pi network is an odd example. It's gotten a lot of publicity and curiosity, but you can't buy it anyplace. The Pi currency has yet to be published on any market, and the only method to obtain it, at least for the time being, is to mine it.
Despite the lack of a price, the Pi currency has a large following — the project's basic idea and excellent technological base have already attracted many crypto aficionados. The Pi network has active community members, and its user base is increasing exponentially.
The primary concern is whether the Pi currency will ever reach exchanges and allow its holders to pay. And, if that occurs, what kind of price should consumers anticipate for their newly minted Pi crypto?
Pi Coin in Detail
|Currency Name||Pi Network|
|Launch Date||March 14, 2019|
The Pi network has evolved into a whole ecosystem of associated businesses. With its remarkable payment speed of under 8 seconds, the Pi wallet is available for testing. The Pi browser software, which allows developers to test and build decentralized third-party Pi programs, is also available. Users can also choose to become a Pi node; however, this requires a lengthy selection procedure and currently provides no benefits.
When the public mainnet is launched, and the Pi currency is available on marketplaces, Pi node owners will be able to profit from transaction fees. Getting your node might be an excellent idea if you believe in this project and its future. Please bear in mind that running a Pi node requires electricity consumption. The number of current Pi nodes has topped 12,000 for the first time.
Each user may only have one Pi account, and the Pi core team has received 25% of all Pi coins. The project just created a closed mainnet, which means that for the time being, only Pi ecosystem users may use Pi for buying, selling, and trading. To sell or purchase Pi coins, one must first pass the KYC verification, which is chosen at random. The Pi network team intends to conduct a mass KYC verification shortly and anticipates that its users will be finished by the end of March 2022.
Price Trends for Pi
Because the coin has not yet been launched on any cryptocurrency platforms, there is no historical data on its performance.
PI Technical Evaluation
We cannot analyze the Pi coin until it is launched during phase 3 of the network's development. However, no one knows the exact release date; the timing can be determined by the Pi network testing phase progress and its final introduction on cryptocurrency exchange sites.
Pi creators hadn't shared the number of coins in circulation when the product was officially released.
What is the predicted value of Pi cryptocurrency?
Because the cryptocurrency has not yet been adequately published, many experts are cautious about the Pi coin's price estimate. The Pi Network also lacks a price history, making it difficult to analyze how its price responds to the crypto market's changes. What should we do in this situation? Most experts rely on sheer guesswork. A full-fledged fundamental analysis is even more challenging to perform. To forecast the price of the Pi coin, we must consider the cryptocurrency's existing and potential use cases, the number of individuals who already own Pi coins, the team of engineers behind it, and the Pi Network's future potential. In the case of Pi, we have no way of knowing how many users will hold the coins when the Pi network becomes online.
There aren't many platforms willing to talk about the Pi network pricing projection. However, some cryptocurrency specialists have already begun to speculate on the Pi Network's predicted future worth. Consider numerous Pi coin price forecasts for 2022-2030.
There are two ways of thinking about pricing determinants:
1. Price is determined by value.
Let us begin with the basic concept: pricing is determined by value. How do we determine the value of a good? The value of the same commodity varies depending on the conditions. Its worth is defined by its scarcity, the difficulty of getting it, and other considerations such as its usage.
2. The price is determined by supply and demand.
Consider the second point of view: supply and demand determine to price. It is pretty simple to grasp. Prices will inevitably decline when supply exceeds demand. Price will inevitably rise when supply falls short of demand. In any instance, supply and demand will eventually reach a state of relative equilibrium, with prices remaining relatively steady.
Is the Pi cryptocurrency trustworthy?
Pi Network's official website state that "its purpose is to ensure that no one is left out of the cryptocurrency revolution, pointing out that mining bitcoin is difficult and investing in it may be riskier."
According to the proposal, anyone may mine cryptocurrency on their phone without exhausting their battery. As a result, there is currently frantic conjecture regarding the future value of the Pi coin. However, Pi coin forecasts are difficult without all the necessary facts.
Within the project's ecology, there are various distinct responsibilities. Every day, users who have downloaded the smartphone app are referred to as 'Pioneers' and are asked to log into the app regularly to ensure that they are not robots.
'Ambassadors' introduce others to the Pi Network, and this odd format has caused some to accuse the initiative of employing practices common in multi-level marketing schemes. Those who utilize the app and use node software on their computer are called 'nodes.'
Is the Pi coin secure?
As previously said, some experts making Pi coin forecasts are less concerned with the Pi Network value and more about whether this project is a hoax. Some of the more enthusiastic Pi coin price projections come from app users; some have stated that a single Pi coin may be valued anywhere between $10 and $100 right now. There is little evidence to support this claim, and the Pi Network team hasn't disclosed any information about the project's progress. A trustworthy Pi coin price projection for 2022 is now in high demand.
According to blockchain researcher Dang Minh Tuan of Hanoi's Posts and Telecommunications Institute of Technology, Pi lacks transparency, unlike many other networks. "The Pi Network has a smartphone app and servers to keep them operating," he continues, "so why don't developers disclose its source code for the community to review?"
Another issue is the information users must provide when downloading the app, such as their complete name, phone number, and Facebook login. Tuan cautioned that additional data types might be taken from a user's device.
Is there a future for Pi Network?
Future return on investment is indeed a major concern for every investment you make. Pi Network officially opened its mainnet - phase three of its deployment plan - on December 29, 2021, and almost immediately had to issue a warning that "any entity impersonating Pi Network or its founders to execute a sale or listing is unlawful, unlicensed, and fraudulent."
Pi Network has also said it would not be making an initial coin offering (ICO) or a crowdfunding sale. Currently, there is no reliable way to exchange Pi coins or generate accurate Pi Network price predictions for 2022 and beyond.
There is a chance that we are mistaken about Pi Network: that it will debut, that users will receive their money and that the cryptocurrency will be valuable. The initiative appears respectable, having been launched by Stanford grads.
Today's Pi Network Price
The Pi coin is now worth $0 since it is not yet listed on any cryptocurrency exchanges. While PI Network is not now available for purchase, we encourage reading the post on 2022 cryptos.
Experts' Pi Network Price Prediction for 2022
Depending on the asset, some of these elements will be more important than others in determining the asset's price. In the case of Pi, there is no way to predict how many people will hold the coin after it becomes online.
Several cryptocurrency experts say about the Pi network coin's predicted worth.
Capital primarily investigates the possibility of a future Pi network open mainnet launch — their assessment is excellent. Among the reasons they believe the Pi currency is not a fraud is the ecosystem's growth, which includes the Pi browser and Pi wallet, and the different events organized by the project's team for the community.
They don't give an explicit Pi coin value prediction, instead stating that the cryptocurrency's value will significantly depend on its popularity among investors - which is hard to predict.
Currency.com makes no Pi coin price projections, emphasizing how difficult it is to anticipate Pi's worth. They further advise consumers not to place too much faith in this cryptocurrency because the development team has refused to answer all their queries, including key ones like "Will user data be exploited for commercial gain?" While this does not indicate that the project is a fraud, it is not the most significant indication.
DigitalCoinPrice provided a credible Pi network value prediction. They predicted the value would reach $.009 by 2022 and exceed $.015 by 2025.
Other Crypto Experts
Because Pi has not been listed anywhere, data-driven prediction platforms like Trading View produce no accurate price projections for the currency. On the other hand, Wallet Investor puts Pi's current price at $0.007077 and predicts a one-year price of $0.000001. The website clearly states that these estimates have not been updated since 2017 and that more data is required to produce a more accurate projection.
CoinMarketCap shows the same current value for the Pi coin value prediction and even a supply number, with no Pi coins in exchange.
Can We Purchase Pi Coins?
If the project's team believes this currency will be registered on exchanges, the Pi network value will start growing over $0.
Individuals, however, are skeptical that this will be the case. Unfortunately, there are many fraudsters in the crypto market, and it is not easy to know if the project you're putting your money into will truly deliver on its claims or disappear into the night with all your money. Is the Pi coin secure?
Several indicators indicate that the Pi network is a legitimate initiative led by crypto enthusiasts. Here are a few examples:
1. The team has not launched an initial coin offering and has stated that it doesn't intend to do so soon – tiny cryptocurrencies typically use ICOs to grab the money and flee, so their absence is highly positive.
2. The developers have come forward, exposing their identities and faces. The central team is overseen by two Stanford University professors, which makes the project more dependable - it's not some random group of developers you've never heard of.
3. The project team has worked hard to establish the Pi network and its environment.
Indeed, there are other ways for the Pi network team to profit from this endeavor, such as selling user data. The open mainnet launch and listing on exchanges will not protect users from possible fraud. After all, the Pi network may turn out to be a sophisticated pyramid scam, which is more plausible given that one requires a referral code to access and receives bonuses for bringing other individuals to the project. Although most users and experts believe the initiative is genuine, you should still DYOR before entrusting it with your sensitive information.
The Pi network is an intriguing initiative that has shown great promise. It has a loyal community, a passionate development team, and a solid technological base – all the characteristics of a potential cryptocurrency. Finally, if you trust the project not to disclose your data, mining Pi coins on the side won't hurt - after all, it's free. Who knows, maybe Tesla will adopt it and become the next media darling, netting its owners millions of dollars; only time can decide.
That concludes our discussion on Pi cryptocurrency value prediction. Currently, certain Pi Network circumstances are unclear:
(1) Whether to reduce or discontinue production when the number of miners exceeds 10 million.
(2) The code is not available as open source.
Even though we still have certain doubts regarding PI Coin, we believe it is an excellent investment opportunity. We may say that PI Coin will surprise us in 2025. Don't stop mining Pi coins and storing them!