KEY POINTS:-
- What is a Pi coin and how to mine it?
- PI network coin witnessed a sharp decline of 62 percent on Friday.
- Why is the Pi coin listing Big news?
What is the Pi coin network?
Firstly we need to know that the Pi coin network is a blockchain project basically making mining easy for people, unlike other coins like Bitcoin which are mined using a powerful computer system.
Without depending on the traditional banking system, PI coins can be used for user payments.
A project by Nicolas Kokkalis and Dr Chengdiao Fan(Stanford graduates), the Pi Network on Thursday transitioned to an open mainnet from a closed one. Open mainnet here refers to a fully decentralized and public phase of the blockchain network where the coin can be traded freely and is accessible on external cryptocurrency exchanges such as OKX, CoinDCX etc.
Pi coin network is the latest cryptocurrency to hit the market, on Friday Pi coin witnessed a sharp Decline in price by 62 percent.
Where is PI Coin Listed?
Pi coin network is the first cryptocurrency that can be mined on smartphones. The pi coin now can be transferred outside of its own network. Its open mainnet went live on Thursday and it is now listed on major exchanges like Binance, and CoinDCX.
The Pi Coins can be earned by just opening the app once daily. According to Pi Network’s website, “Pi Network is a community of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem.”
The Pi Network uses a KYC solution to provide access and identity verification for Web 3. The network is not changeable, or genuine and uses interoperable digital money. According to a livemint report,t this application does not drain the battery of the phone.
According to reports around 1 crore of people were already part of the Pi network.
People are waiting to transfer their mined pi coins. According to reports on 17th February more than 540,000 new users joined the Pi coin Network. Pi coin listing has allowed users to sell their mined coins on the crypto exchanges.
Pi Network in a post on X on Wednesday said:
“One day left before Open Network’s launch at 8:00 AM UTC on February 20, 2025! The transition to an Open Network will enable external connectivity on the Mainnet blockchain, allowing Pi to interface with other compliant networks and systems. This means Pioneers will be able to engage in transactions beyond the Pi ecosystem, expanding Pi’s utility and reach.”
STEPS TO MINE PI COIN ON MOBILE:-
STEP 1:- Install the Pi Network coin app
Step 2:- To begin to earn Pi coins press the bolt icon.
To boost your mining rate, Add your 3-5 trusted contacts, and share your reference code for more earnings.
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.
