What is Pi (PI)?

What Is Pi Network?

Pi Network is a decentralized cryptocurrency project designed to make digital currency mining accessible to anyone with a smartphone. Unlike Bitcoin and other cryptocurrencies that require expensive mining equipment, Pi Network allows users to earn Pi tokens by simply tapping a button on their mobile app. The project was founded in 2019 by Nicolas Kokkalis (Ph.D. in Computer Science) and Chengdiao Fan (Ph.D. in Computational Anthropology), both Stanford graduates, with the goal of creating an inclusive digital economy.

Pi Network has gone through different phases of development. Initially, it operated in a closed environment where users could mine and transact within the Pi ecosystem. The project is moving towards its Open Network phase, expected on February 20, 2025, to allow external transactions and potential exchange listings. However, Pi Network remains controversial due to its referral-based growth model and the lack of token utility.

How Pi Network Works

Pi Network offers a user-friendly mining experience without the need for specialized equipment. Here's how it works:

1. Mobile Mining

Pi Network enables users (called Pioneers) to earn Pi coins by tapping a button daily on the Pi Network app. Unlike traditional mining, this process does not require high computational power.

2. Security Circle & Trust Graph

To maintain network security, users must verify and add trusted members to their Security Circles. This forms a decentralized trust system that prevents fraudulent activities.

3. Consensus Mechanism

Pi Network uses the Stellar Consensus Protocol (SCP) instead of the energy-intensive Proof-of-Work (PoW) used by Bitcoin. This allows transactions to be validated efficiently and with minimal energy consumption.

4. KYC & Mainnet Migration

Users must complete Know Your Customer (KYC) verification to migrate their Pi coins to the Pi Mainnet. Without KYC approval, mined Pi remains inaccessible for transactions.

Pi Network is now preparing for its Open Network phase, where external transactions, exchange listings, and business integrations will be enabled.

What Is the PI Token?

The PI token is the native cryptocurrency of the Pi Network. It is currently not listed on any crypto exchange, meaning its value is not yet determined in the open market.

PI Coin Supply & Distribution:

- Pre-Mainnet Mining: Users earned Pi by engaging in the network.

- Mainnet Migration: KYC-verified users can move their Pi tokens to the blockchain.

- Supply Control: The total supply is 100 billion PI, with 80% allocated to the community through mining rewards and 20% reserved for the Pi Core Team for development.

Some centralized exchanges (CEXs) have listed Pi IOUs (speculative tokens that represent Pi’s potential value). However, these are not official Pi coins and may not hold real value until Pi Network is listed on the cryptocurrency exchanges on February 20, 2025.

When Is the Pi Network Listing Date?

The Pi Network Open Network launch is officially scheduled for February 20, 2025, at 8:00 AM UTC.

What Changes After Open Network?

- Pi coin transactions will be allowed on external exchanges

- Users will be able to trade Pi freely outside the enclosed ecosystem

- Businesses can integrate Pi for payments

What Is the Price Prediction of Pi Network?

Since Pi Network has not yet launched on any major exchange, there is no official market price for PI tokens. However, speculations and trading of Pi IOU tokens on unregulated exchanges have shown fluctuations between $60 and $90 per token.

Factors Affecting Pi Network’s Price

- Exchange Listings: If major exchanges list Pi, it could boost demand and liquidity.

- Adoption and Utility: The more businesses and users accept Pi for transactions, the higher its potential value.

- Market Sentiment: Like other cryptocurrencies, Pi’s price will depend on overall market conditions, investor confidence, and blockchain adoption trends.

Estimated Pi Coin Price Predictions (Speculative)

- Short-term (2025): $10 – $100 (if listed on exchanges and gains traction).

- Long-term (2026+): $100+ (if widely adopted and integrated into the crypto economy).

Conclusion

Pi Network presents an interesting concept of mobile mining and aims to build a decentralized digital economy. However, until the Open Network phase is launched and PI tokens are officially listed on exchanges, investors should remain cautious. While the project has gained millions of users, its real-world value remains uncertain.

If you're considering investing in Pi Network, it’s essential to stay updated on official announcements, regulatory developments, and potential exchange listings. As with any cryptocurrency investment, thorough research and risk assessment are crucial.

How to Buy Pi Network on Bitget

We are thrilled to announce that Pi Network (PI) will be listed in the Innovation, Web3 and Public Chain Zone. Check out the details below:

Deposit Available: TBD

Trading Available: 20 February 2025, 08:00 (UTC)

Withdrawal Available: 21 February 2025, 09:00 (UTC)

Spot Trading Link: PI/USDT

Users can also buy PI with 0% fees using credit/debit cards in over 140+ currencies, including EUR, GBP, AUD, BRL, and more, for a limited time.