The Pi Network is a digital currency project that aims to keep cryptocurrency mining accessible. It enables users to mine Pi cryptocurrency coins using its desktop and mobile phone applications, validating transactions on a distributed record.
Here is all you need to know about mining Pi:
1. User type: On Pi, there are basically four user types, which are the Pioneers, contributors, Ambassadors, and Nodes. The Pioneers are users that can request transactions from other pioneers, use the Pi Network mobile app every day, validate that they are not a robot, and mine the Pi Network cryptocurrency. They can also request transactions from other pioneers; the contributors are users that use the app and make a list of pioneers they know and trust; the ambassadors are users that introduce new users to the Pi app while the nodes are users that serve as both pioneers and contributors, they also run the PI node software on their computers and are responsible for validating transactions and creating the network of trust that helps to do so.
2. Availability: The Pi cryptocurrency is not available to trade openly and does not have a limited usage, but users are able to buy and sell things on the Pi Network’s peer-to-peer marketplace. However, early users have access to a greater supply of Pi than users who come later.
3. The Pi application: The Pi mining app works by making simple contributions to Pi’s community. However, the more you contribute, the more Pi you earn. To start earning Pi, check in every 24 hours and click the lightning button to start mining. Once you are mining, you can boost your hourly rate by inviting trusted friends and family to join the community. After 3 days of mining, you can boost your earnings more by building your security circle, which contributes to the overall security of the network.
4. How to mine Pi: To mine Pi, download the application from Google Play for Android users and Apple Play for iOS users. Sign up with your Facebook account or phone number, set up your password, fill in your profile details. Ensure you provide your real name, fill in the country and phone number, enter the invitation code, which could be gotten from your friend who uses Pi Network, then login. Navigate to the lightning icon on the right, then click on it. However, to prove that you are a real person and not a robot, you would be required to go to the application every day. Then cryptocurrency will be credited within 24 hours, after which you need to activate Pi Network mining again, after which you can go ahead to mine Pi. To mine Pi, users just sign in to the application, navigate, and click on the mine button to get coins.
5. Simplicity and earnings: The pi application is simple to navigate through and a user can earn once they participate in the development of the platform.
6. Security: The Pi network security system secures the currency by building a global trust graph that prevents fraudsters from executing fraudulent transactions. However, if you are obtaining Pi, you need to take the usual precautions, such as ensuring no one gets your private key details, such as your name, phone number, password and Facebook details.
Interestingly, just on your mobile phone, you can mine pi and some other applications can run alongside in the background and would not disrupt their function.