Pi network stands for Pioneer network.
Before Pi Network is released to the public it will be thoroughly tested with the Testnet protocol where a centralized entity will do all the checks and run simulations to see if the system works properly or not. Before even launching the Mainnet the note software will be implemented on a test net which will use the same graph as the Mainnet. Although the Pi team will host several notes of their own but sooner or later they will encourage people to start their own notes and use the benefits of it.
When all these things are done the Pi network will shut down its phase 1 and start phase 2 where it will be completely decentralized and no one would be controlling it, the network will be on its own for the real world.
THE BASIS OF BUILT STRUCTURE OF Pi NETWORK
The basis of Pi network mining is based on invitation. If you invite someone to join your node then you get a speed of 0.1 pi coins per hour and you get an increment of 0.02 pi coins per hour. If you are not invited then you cannot join the Pi network unless you have an invitation code so use the one which is given below.
People suggest that cryptocurrency mining uses a lot more energy than traditional money transactions. To combat this the Pi network has started phone mining which requires no energy at all to function. And anyone with a smartphone can join the movement of mining by coins. Surely it is a revolution started by them and we need to see more coins built on the same platform so that everyone gets an equal opportunity on mining cryptocurrencies. Mobile phones are very capable devices, it is far more capable than the computer that landed people on the moon in 1969. So the people at Pi network thought why not start a movement with everybody’s favorite device which is a mobile phone.
They have made the app in a way that it can run in the background without requiring any energy at all, your app can be removed from your RAM memory then also it will keep running the pie cryptocurrency app. The mining process runs in periodic cycles and each cycle lasts for 24 hours.
You need to log in again every 24 hours in order to start mining again.