Pi Network

PI Price

About Pi Network (PI)

Pi Network is a social cryptocurrency and developer platform designed to make digital currency mining accessible to everyday people through mobile devices.

• The network employs a mobile-first mining system that does not require specialized hardware or high energy consumption.

• Security is maintained through a global trust graph, a map of connections built from individual user groups called security circles.

• The ecosystem includes a native wallet, a dedicated browser, and a platform for decentralized applications (dApps), which are programs that run on the blockchain without a central owner.

What Is Pi Network?

Pi Network provides a peer-to-peer ecosystem where value is exchanged through its native token, PI. The project aims to build a widely distributed currency that facilitates transactions for real-world goods and services rather than purely speculative trading. In the system, the token is put to work through voluntary lockups, a process where users hold their tokens for a set time to support market stability and earn higher rewards. 

As the ecosystem expands, value moves through the network via transaction fees and the exchange of services within the internal marketplace. This model is designed to scale by rewarding consistent participation and contribution to the network’s security and utility.

What Makes Pi Network Unique

• Mobile Accessibility: It allows users to earn rewards on mobile phones without draining battery life or using excessive data.

• Trust-Based Security: Instead of using energy-intensive computation, the network uses security circles where users vouch for each other to verify transactions.

• Meritocratic Distribution: Tokens are distributed based on ongoing engagement and network growth contributions rather than financial wealth or technical power.

• Enclosed Network Phase: The project uses a tiered launch strategy that allows for identity verification and utility building before opening the blockchain to external networks.

What Can You Use PI for?

• Purchasing goods and services from other users and businesses within the internal barter marketplace.

• Accessing and interacting with various community-built applications on the internal app platform.

• Paying for transaction fees when moving tokens between wallets on the mainnet, the live blockchain where real transactions happen.

• Staking tokens in the launchpad to participate in new token releases or locking them up to boost personal mining rates.

How Does Pi Network Work?

Pi Network is built on the Stellar Consensus Protocol (SCP), a set of rules that helps the network agree on transactions without using high energy. It uses a Federated Byzantine Agreement (FBA), a method where computers reach agreement by trusting specific groups of other computers. 

Users participate in four primary roles: Pioneers verify they are human daily, Contributors build security circles of trusted peers, Ambassadors introduce new members, and Nodes, which are computers that help run and verify the network. This multi-layered approach ensures the network remains decentralized, a term meaning it is not controlled by any single person or group.

Team Info and Investors

Pi Network was founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both of whom hold doctoral degrees from Stanford University with backgrounds in distributed systems and anthropological sciences respectively. The project is managed by SocialChain Inc. and has focused on organic growth through its community rather than traditional crowdfunding or public token sales. No external institutional investors are listed in the provided project documentation.

Where can you buy Pi Network?

PI tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Pi Network is Gate, where the most active trading pair PI/USDT has a trading volume of $2,576,520.14 in the last 24 hours. Other popular options include OKX and Bitget.

What is the daily trading volume of Pi Network (PI)?

The trading volume of Pi Network (PI) is $18,141,483.70 in the last 24 hours, representing a 2.70% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Pi Network (PI)?

Pi Network (PI) reached an all-time high of $2.99 and an all-time low of $0.1312. It’s now trading -94.10% below that peak and 35.40% above its lowest price.

What is the market cap of Pi Network (PI)?

Market capitalization of Pi Network (PI) is $1,780,189,196 and is ranked #45 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of PI tokens (10 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Pi Network (PI)?

The fully diluted valuation (FDV) of Pi Network (PI) is $2,738,011,751. This is a statistical representation of the maximum market cap, assuming the maximum number of 100 Billion PI tokens are in circulation today. Depending on how the emission schedule of PI tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Pi Network compare against its peers?

With a price decline of -6.10% in the last 7 days, Pi Network (PI) is underperforming the global cryptocurrency market which is down -0.40%, while underperforming when compared to similar Layer 1 (L1) cryptocurrencies which are down -4.10%.