Hello and Welcome everyone to my Youtube Channel Tech Gurujee. I am Prashant Fulare.
Before we start What is PI network and how to mine it with your mobile.
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Today we’re going to talk about the PI Network. PI network it claims to be the first
cryptocurrency project to allow users to mine using their smartphone.
their aims is to create a secure immutable non counterfeit bills source of digital money.
now they’re going to do this by using distributed ledger technology and making
use of the stellar consensus protocol. is’nt is cool. another claim that they hold is that
mining cryptocurrency on your mobile phone will not affect your battery life.
Pi Network, a rapidly rising star in the blockchain world is close to reaching a halving – to take place when more than eight a million users are registered
The project’s mission is bold – to build the world’s most inclusive peer-to-peer marketplace, fueled by Pi,
the world’s most widely used cryptocurrency. And create a smart contract protocol that is secured and operated by everyday people,
not a concentration of whale miners like Bitcoin.
The Pi team have worked hard to build a platform that addresses many of the current problems
with proof of work mining and cryptocurrency (energy wastage, centralization issues with cryptocurrency ownership and mining etc.)
and the Pi Core Team has introduced a consensus algorithm that would also be extremely user-friendly and ideally enable mining
on personal computers and mobile phones.
The core team includes Pi Head of Technology, Dr. Nicolas Kokkalis, a Stanford Ph.D. and instructor of Stanford’s first decentralized applications class,
Dr. Chengdiao Fan, Head of Product is a Stanford Ph.D. in Computational Anthropology and Pi Head of Community
Vincent McPhillip out of Yale and Stanford who is a co-Founder of the Stanford Blockchain Collective.
Pi is based on the Stellar Consensus Protocol (SCP) and an algorithm called Federated Byzantine Agreement (FBA).
There are four roles Pi users can play, as Pi miners. Namely:
1. Pioneer. A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis.
This user validates their presence every time they sign in to the app.
They can also open the app to request transactions (e.g. make a payment in Pi to another Pioneer)
2. Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts.
In aggregate, Pi contributors will build a global trust graph.
3.Ambassador. A user of the Pi mobile app who is introducing other users into Pi network.
4. Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer.
The Pi node software is the software that runs the core SCP algorithm, taking into account the trust graph information provided by the Contributors.
The Pi Economic Model
The Pi Model seeks to strike a balance between creating a sense of scarcity for Pi, while still ensuring that a large amount does not accumulate into a very small number of hands. They want to make sure our users earn more Pi as they make contributions to the network.
Pi’s goal is to build an economic model that is sophisticated enough to achieve and balance these priorities while remaining intuitive enough for people to use.
Pi’s economic model design requirements:
Simple: Build an intuitive and transparent model
Fair distribution: Give a critical mass of the world’s population access to Pi
Scarcity: Create a sense of scarcity to sustain Pi’s price over time
Meritocratic earning: Reward contributions to build and sustain the network
The Token Utility is very interesting – as it’s about pooling and monetizing the members’ time online:
Pi Ledger And Shared Trust Graph – Scaling Trust Across The Web
Pi’s Attention Marketplace – Bartering Unutilized Attention And Time
Pi’s Barter Marketplace – Build Your Personal Virtual Storefront
Pi’s Decentralized App Store – Lowering The Barrier Of Entry For Creators
You can Start Pi mining by following My referral link provided in the description.
Join Pi Mining My referral link is “” minepi.com/fulare “”
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