In this video I have shared my opinion on the new project Bee Network (New Cryptocurrency) emerging nowadays. And shared my opinion on the recent announcement. The project is similar to Pi Network. I have given my Review on Bee and discussed this project comparing it with Pi Network
Review on Bee Network
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Pi is a cryptocurrency developed by Stanford PHDs with an aim to make cryptocurrency available to everyday people all around the world.
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In this video I have shared my opinion on the recent announcement of Bee Network of 800K + users…
I am not shocked about the fact that Bee Network reached 800K very quickly, as we can notice that, it ride on the userbase of Pi Network.
Now coming to Bee Network,
They claim Bee is a cryptocurrency, but as far as I know cryptocurrency is the reward for maintaining blockchain.
Now some may argue that even Pi Network has no blockchain running at the moment, why we are getting rewards..
So to make you clear..
Pi network have already declared in the whitepaper that, they will be using SCP Algorithm to run the blockchain..
And in order to run SCP properly, as it is based on voting ,which requires less energy and battery, we need to form a trust graph according to which the nodes can vote, and to build that trust graph, Pi Network came with a new concept called Security Circle…and to build a security circle, we need a network of users, who can help in it… But why a user will download Pi to build security circle for Pi network, that’s why we are being rewarded with Pi crypto..
Now in case of Bee Network, we are having reward , a strong network, even security circles,, but what is the use of them, nothing mentioned, about Nodes, nothing mentioned, about consensus algorithm, nothing mentioned in the white paper…
So how can I share my opinion on Bee Network, about their consensus algorithm, blockchain..etc etc..
Some may argue that, blockchain will come in the later stages..
Just tell me, do we start adding bricks first and later thinks about the map of the building..???
So that’s all from the video,
*Pi is not listed in any exchanges yet, so don’t get fooled by other scammers.*
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Copyright Disclaimer :-
This is an educational video on the Pi Network.
Official Website of Pi Network – https://minepi.com/
Thanks to Pixabay and its contributors for the images.