Pi network stands for Pioneer network.
It is the beginning of something that would turn out to be great at the end. It would surely make things a tad better. I think it will be the start of a revolution as many people are joining the pi mining community and the number is increasing day by day.
We are truly seeing a revolution in the way we see money, as it becomes digital. The deeply integrated concept of money in our minds is the cold hard cash that is still King in some countries but cryptocurrencies like the pi network are all set to change that with the introduction of digital money.
I personally think it would do a great job and it has the potential to be listed in the top 20 cryptocurrencies in the world.
The pi network runs on the SCP algorithm.
To know more about the SCP algorithm refer to the article: –
Basically, if you’re going to be a pie user then you could be one of the following things: –
Here all the processes are necessary and every process is awarded newly minted pi coins when they do their respective work.
Why do cryptocurrencies like pi exist?
These cryptocurrencies are trying their best to make a secure payment network for everyday people and also trying to be the next revolution that will take the world by storm. The transaction security provided by them are phenomenal in the sense that they are checked by thousands of computers before going to the desired location but with the banks, it is not the case, they have only one server which is the main computer that does all the work, sometimes it makes mistakes and there is nobody to check it. So they are unable to provide us with a secure transaction every time.
During the decade-long history of bitcoin, it does not have a single transaction that was sent to a wrong address by the system which clearly states the power of crypto currencies and their future aspect.