Why is Pi Network trusted by many users as well as what are the highlights of this digital currency that when it comes to it is a “craze”?
Brief history of development of Pi Network
Pi Network is a new cryptocurrency project launched in 2019 with the aim of creating a decentralized payment system. Pi Network provides users with a mobile application to mine Pi coins for free and use Pi to trade. Pi Network was developed by a team of computer scientists at Stanford University, including Dr. Nicolas Kokkalis, Dr. Chengdiao Fan and Vincent McPhillip.
A highlight of Pi Network is the use of a new Proof-of-Work (PoW) algorithm developed by the project’s development team. This algorithm is called “Pi consensus algorithm” and allows to mine Pi on mobile phones without using expensive hardware resources like when mining Bitcoin or Ethereum.
Another advantage of Pi Network is the integration of social networking functionality in the application. Users can connect with others around the world to make transactions and exchange information about Pi coins. Social integration helps create a large community and can help Pi Network grow rapidly.
Pi Network offers a number of benefits to its users, including:
No Transaction Fees: With Pi Network, users can send and receive money without having to pay any transaction fees.
Free Mining: To get Pi, users do not need to invest in expensive hardware or pay any fees. Just download the Pi Network app and sign up for an account to start mining for free.
Potential for Value: Pi Network is a new cryptocurrency with the potential to increase in value in the future if widely used and recognized as a valid means of payment. This could be of financial benefit to future Pi owners.
Powered by blockchain technology: Pi Network uses blockchain technology to protect user data and ensure transaction integrity. This gives users more confidence in the safety and security of the Pi network.
Massive Community: Pi Network has a large user community, with more than 50 million users worldwide. This creates a large network and community of support for the Pi Network.
Does mining pi network lose personal information?
To mine Pi Network, users will have to register an account with basic information such as name, email address and password. However, this information is confidential and is not shared with any third parties without the user’s consent.
In addition, to protect data integrity and ensure the safety of transactions, Pi Network uses blockchain technology to encrypt transaction information and users do not need to provide personal information when participating. in the mining process.
However, as with any other online application or service, users should always be vigilant and protect their personal information by using secure passwords, not sharing account information and using secure passwords. Use appropriate security software.
Source: blogchoi.com
