Pi Network
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About Pi Network
Pi Network is a developer platform and social cryptocurrency that lets ordinary people mine digital currency using their phones. Its coin, PI, is the native token of the Pi Network blockchain, used to pay transaction fees and to exchange value directly between people. The team describes the goal as a currency spread widely enough to pay for real goods and services, not only to be traded speculatively.
Pi Network runs on the Stellar Consensus Protocol, plus a Federated Byzantine Agreement in which computers reach agreement by placing trust in particular groups of peers. People also use PI to buy goods in Pi Network's internal marketplace, to stake in a launchpad, and in voluntary lockups that raise a person's mining rate.
- Consensus
- Stellar Consensus Protocol (Federated Byzantine Agreement)
- Created by
- Dr. Nicolas Kokkalis and Dr. Chengdiao Fan
- Category
- Layer 1
- Max supply
- 100.00B PI
Pi Network news
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Dr. Nicolas Kokkalis and Dr. Chengdiao Fan started it, and each of them earned a doctoral degree at Stanford University.
Social Chain Inc. manages the network.
It offers a wallet of its own, a browser made for it, and a place where decentralized applications can run.