What is PI coin? Introduction to the issue price, total amount and white paper of PI coin

Pi Coin, a mobile-mined cryptocurrency launched in 2019, utilizes Proof of Work with a trust-based mechanism to reduce energy consumption and make mining accessible to a broad audience.

Oct 13, 2024 at 05:00 pm

What is Pi Coin?

Pi Coin is a new cryptocurrency that was launched in March 2019. It is based on the Proof of Work (PoW) consensus algorithm, similar to Bitcoin. However, Pi Coin mining is done on mobile phones, making it more accessible to a wider audience.

Issue Price and Total Amount

Issue Price: Not yet determined.
Total Amount: 100 billion PI coins.

White Paper

Pi Coin has a white paper that outlines its technical details and goals. Key aspects of the white paper include:

Consensus Algorithm: Pi Coin uses a PoW algorithm but with a twist. It incorporates a trust-based mechanism to reduce energy consumption and mining difficulty.
Mining: Mining Pi Coin involves solving mathematical equations on mobile devices. The mining rewards are distributed daily based on the user's activity, known as "Pi."
Circulating Supply: Initially, only a small portion of the total supply (1 billion PI coins) was released through mining. The rest will be gradually released as the Pi Network grows.
Security: Pi Coin employs a multi-layer security system to protect the network from fraud and hacking. This includes encryption, block validation, and the Stellar Consensus Protocol (SCP).

Additional Information

Pi Coin is currently in its mainnet testing phase.
The Pi Blockchain Explorer allows users to view transaction data and account balances.
Pi Coin has partnered with the Stellar network to facilitate cross-chain transactions.

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