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By Amit Chahar
Key Takeaways
Pi Network is a cryptocurrency project that allows users to mine Pi coins on mobile devices without high energy consumption, using the Stellar Consensus Protocol (SCP) and a trust-based Security Circle system for decentralized security.
Pi Network’s tokenomics include a total supply cap of 100 billion Pi, with 80% allocated to the community for mining rewards, ecosystem development, and liquidity, while 20% is reserved for the core team.
Pi Network launched its Open Mainnet on February 20, 2025, enabling Pi Coin to be traded on major exchanges like OKX and Bitget, with an initial price of around $1.2.
Pi Network is a unique cryptocurrency project that aims to make digital currency mining accessible to everyone. The project was created by a team of Stanford graduates to provide a decentralized, user-friendly digital currency for everyday transactions.
In this guide, we will cover what Pi Network is, how it works, and how to mine Pi coins. We will also discuss whether Pi Network is legit or a scam and its future potential.
Pi Network is a cryptocurrency project that lets you mine Pi coins directly from your mobile device without using significant energy. It launched on March 14, 2019, and was created by Stanford graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. It lets you mine Pi using a user-friendly mobile app without draining your battery.
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Pi Network uses a unique mining mechanism called Stellar Consensus Protocol (SCP) instead of energy-intensive Proof-of-Work (PoW) algorithms. It allows you to mine Pi by contributing to network security through a trust-based system. You form “Security Circles” by adding trusted members, helping to build a global trust graph. This system secures the ledger without draining your device’s resources.
Pi Network’s philosophy centers on establishing a decentralized and open digital currency driven by its community. The network values accessibility, as any smartphone owner can mine Pi without the need for costly hardware or high energy consumption.
The Pi Network has become one of the biggest crypto communities, with more than 60 million active users. These users, referred to as Pioneers, contribute actively to the network by mining Pi, validating transactions, and growing the network by inviting members they trust. The Security Circle mechanism is also instrumental in ensuring a trustworthy network since every user verifies others they trust, and thus a decentralized web of trust is formed. You can check out the Pi network whitepaper for more details.
Pi Network works as a decentralized cryptocurrency that allows mining through mobile devices without consuming significant energy. It uses the Stellar Consensus Protocol (SCP) instead of traditional Proof-of-Work (PoW).
The platform uses SCP, which relies on a Federated Byzantine Agreement (FBA) model. Transactions are verified by distributed nodes without requiring massive computational power. The system ensures secure, fast, and scalable transactions while preventing fraud.
Pi mining does not involve solving complex mathematical problems like Bitcoin. Instead, users contribute to network security by verifying trusted members through Security Circles. Each participant adds up to five trusted individuals, forming a trust-based security system. This decentralized approach ensures transaction validation without centralized control.
Mining Pi requires opening the Pi Network app daily and tapping the mining button. The system does not run in the background or drain battery life. Mining rates decrease over time based on network growth, with a halving mechanism to control coin supply. The initial base rate was 3.1415926 Pi/hour, which has been reduced multiple times as more users join.
Pi Network has four key roles that contribute to its security, decentralization, and growth. Each role plays a specific function in maintaining the network and increasing user engagement.
Pi Coin is the native cryptocurrency of Pi Network, a blockchain project that allows users to mine digital currency on their smartphones. Pi Coin has no fixed market value since it remains in an enclosed mainnet, preventing external trading.
The total supply is capped at 100 billion coins, with 80% allocated to users and 20% to the core team. Pi Coin is designed for peer-to-peer transactions, decentralized applications, and online commerce.
Pi Network’s mining rate has undergone several halvings as the network has grown. Initially, the mining rate halved when the number of engaged Pioneers reached milestones such as 1,000, 10,000, 100,000, 1 million, and 10 million users. This pattern was supposed to keep going until the network hit 1 billion users, at which point the mining rate would reach zero – no more new coins from mining.
Here’s where things shifted. Up until March 1, 2022, that 10x growth halving rule was in play. But once the network entered the “Enclosed Mainnet” phase in December 2021 (a step toward the full launch), the team tweaked the system. They didn’t stick to the strict “every 10x users” rule anymore. Instead, starting March 14, 2022, they rolled out a new “dynamic base mining rate”.
This change ensures that Pioneer mining rewards align with the total supply limit of 65 billion Pi allocated for mining rewards. Generally, the mining rate declines month over month due to the supply limit, the growing network size, and Pioneer mining activity.
Pi Coin’s tokenomics are designed to promote accessibility, security, and the development of a robust ecosystem. So, how many Pi coins are there? The total maximum supply of Pi is capped at 100 billion tokens, allocated as below:
Here are the main ways to earn Pi:
Here are the main use cases:
Pi Network was started in 2019 by Stanford graduates. It lets people mine Pi coins using a mobile app. Over 60 million people use it. But many people question if it is real. The network has been in an enclosed mainnet for a long time. This stops people from trading Pi outside the app.
The system also rewards users for inviting others, which looks like a pyramid scheme. Some worry about their personal data because Pi Network asks for ID verification. Even with these issues, Pi Network still has many users. It says it will launch an open mainnet on 20 Feb 2025, which may solve some concerns.
Pi Network makes mining easy, but concerns about data privacy, slow progress, referral-based rewards, and unclear funding raise doubts. People should think carefully before joining.
On February 20, 2025, Pi Network launched its Open Mainnet, transitioning from a closed ecosystem to a fully decentralized network. This significant milestone has allowed Pi Coin to be traded on major cryptocurrency exchanges, including OKX, Bitget, and MEXC.
Upon its debut, Pi Coin experienced notable volatility, with initial trading prices ranging between $1.24 and $2.20. Within hours, trading volumes on OKX surpassed $100 million, indicating substantial market interest. Analysts suggest that if Pi Coin secures additional listings on prominent platforms like Binance, its price could experience further appreciation.
With the network now fully operational, users can transfer and trade Pi Coins beyond the confines of the Pi Network app, enhancing the coin’s utility and accessibility.
The project’s roadmap includes plans to develop a robust ecosystem of decentralized applications (DApps) that leverage Pi Coin for various use cases, ranging from financial services to digital marketplaces.
The core team is also focusing on securing additional exchange listings to increase liquidity and user engagement. As the network evolves, its success will largely depend on its ability to foster a vibrant developer community, ensure regulatory compliance, and maintain user trust through transparent operations.
Pi Network is bringing cryptocurrency to everyday people by allowing easy mining on mobile phones. It has a strong community and a growing ecosystem where users can trade, shop, and use Pi coins for services. The launch of the Open Mainnet has made Pi more useful, allowing trading on exchanges.
However, challenges like price volatility, adoption, and security remain. Pi Network’s success will depend on how well it grows and gains trust. If more businesses and developers accept Pi, it could become a valuable digital currency.
Pi Network is creating a digital economy where users can mine and use Pi coins for real transactions. It allows people to send and receive Pi directly without relying on banks. Developers are building decentralized applications (dApps) on the network, making Pi useful for various online services.
Businesses may accept Pi as payment in the future, expanding its real-world use. Pi Network is growing into a system where people can trade, shop, and engage in financial services using Pi coins.
Pi coins are now tradable on cryptocurrency exchanges after the Open Mainnet launch on February 20, 2025. Users who complete the Know Your Customer (KYC) verification can transfer Pi to supported exchanges and trade it for other cryptocurrencies or fiat money.
Pi coins have had different prices on various exchanges since the Open Mainnet launched. The market decides the value based on supply and demand, so prices change frequently. Some exchanges report prices ranging from $1.24 to $2.20. Currently, Pi is trading around $1.2 on Bitget and OKX exchange.
Yes, you can sell your Pi coins on exchanges like Bitget and OKX. People who complete KYC verification can transfer Pi to supported exchanges and sell it for other cryptocurrencies or fiat money.
Pi Network launched its Open Mainnet on February 20, 2025, at 8:00 AM UTC. Users can now move Pi coins outside the enclosed system and trade them on exchanges.
Amit Chahar
With a background in Computer Science, Amit Chahar is a passionate crypto writer, specializing in Crypto and Blockchain Technology. With over 5 years of experience in the crypto and Web3 space, Amit has authored more than 1,000 articles, making him a prolific and knowledgeable writer in the field. His dedication extends beyond writing, as he is also the founder of two crypto websites: walletreviewer.com and reviewexchanges.com. Beyond crypto trading and investing, he is also a stock investor and enjoy playing cricket in his free time.
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