Pi Network Development History and Pi Coin Price Forecast in the Next Five Years

Pi Network (Pi) is a new face in the field of digital currency. Since its inception, Pi is only a test version, which has not attracted much attention from the currency community, because its underlying source code is still being improved, and it has not been launched on the mainnet, and there is no online exchange. Compared with most of the air coin projects that are scorching up the chain, issuing coins, listing, cutting leeks, and running away, Pi looks a bit dull and alternative. Nevertheless, Pi still set off a wave of waves in the vast sea of ​​bits. So far, the 15 million users are not to be underestimated. In PiCity's view, now and for a long time in the future, Pi will be in the state of a baby whale, which belongs to it is a bright and arduous growth path.

Some users have dreams of getting rich, and regard the current stage of Pi's growth as the great and secret era of early Bitcoin, as if they were infant millionaires. As long as they stand firm and don't let go, they can replicate the early myths of the Bitcoin era. However, there are also a large number of people who think that Pi is nothing more than an act of drinking poison to quench their thirst, which is a complete pyramid scheme.

What is Pi Network? How does it work? Have you heard of Pi cryptocurrency and want to learn more about the potential investment of Pi cryptocurrency? In this article, PiCity elaborated on Pi Network's goals and vision, as well as its price forecast for the next five years.

What is Pi Network?
Pi Network is a digital currency project that aims to build a blockchain network that everyone can participate in, because Bitcoin has deviated from its original intention and has become a speculative tool of capital, and the mining of Bitcoin, Ethereum and many digital currencies Mines are too concentrated due to the high threshold, so that most users cannot participate. The Pi network developed by a team of Stanford University graduates allows users to use its mobile application to mine, thus making Pi extremely easy to use and broad consensus.

Pi's development process
The project uses a digital π-based brand identity. The first phase was launched on March 14, 2019, which is Pi Day, and a free mining APP, the Pi application, was launched on the same day. In June of the same year, the network had more than 100,000 active users, and when the second phase of 2020 was launched, the number of Pi users had exceeded 3.5 million. The application began to display advertisements in May 2020 as a source of funding for the project, during which it was temporarily suspended due to controversy. In February 2021, the number of users has exceeded 12 million. In March, the number of users reached 14 million.

Pi's halving rule
Pi Coin is a cryptocurrency that runs on the Pi blockchain network. Like other cryptocurrencies (such as Bitcoin), Pi is designed to be periodically "halved" to protect its scarcity. Halving (TBD) means that when a certain milestone is reached, the number of tradable tokens mined by miners per time period is reduced by half. The Pi Coin's halving cycle is set for every ten times increase in the number of users.

As shown in the figure, the initial mining speed of Pi is 1.6π per hour. When the user reaches 100,000 users, its mining speed is reduced from 1.6π per hour to 0.8π per hour, and when it reaches 1 million users, it is halved. To 0.4π, and then to 10 million when it drops to 0.2π per hour. Pi will continue to halve, reaching zero at 1 billion users.

Pi's node
Pi Netork is a digital currency project that aims to build a blockchain network that everyone can participate in, because Bitcoin has deviated from its original intention and has become a speculative tool of capital, and the mining of Bitcoin, Ethereum and many digital currencies Mines are over-concentrated due to the high threshold, so that most users cannot participate. The Pi network developed by a team of Stanford University graduates allows users to use its mobile application to mine, thus making Pi extremely easy to use and broad consensus.

As the project is currently in the second phase, users can voluntarily test the Pi Node desktop software on their computers. According to the project team, Pi will be launched on the main network in 2021. With the massive deployment of Pi nodes, this day is getting closer and closer.

Safety circle
Unlike nodes in networks such as Bitcoin or Ethereum that use proof-of-work protocols, Pi nodes use an algorithm based on the Stellar Consensus Protocol (SCP). Pi network establishes a security circle or security group (each user can add three to five known trusted people to form a security circle) to ensure the safe and efficient operation of its network. The security circle has established a global trust network to prevent fraudulent transactions, because the transaction can only be verified on the shared ledger if the trusted node approves the transaction.

Pi coin is still in the minting (pre-release) stage
If you want to stud Pi coins right away, you can only regret to tell you that Pi cannot be traded now. It is still in the testnet stage, and you must wait for the mainnet to go online before you can transfer and trade. The project party has repeatedly stated that any private transactions are not recognized and encouraged, which chills the hearts of the young leeks.

Pi's mainnet will be launched in 2021, when most users will complete KYC certification to ensure that each account is a real individual. Prior to this, Pi coins cannot be transferred and traded to prevent fake accounts from hoarding Pi coins. A test wallet will be launched on March 31, 2021 to ensure the safe deployment of Pi wallet after the mainnet launch.

Therefore, Pi Coin cannot currently be traded on any cryptocurrency exchange or trading platform.

Pi wallet
After the third stage is launched, the Pi application will have a built-in (including) Pi wallet. Users can log in to the Pi application through their mobile phone number or FB account to create and use the official Pi wallet. Users can use Pi coins to purchase products and services at Pi-supported DAPPs or offline merchants, or exchange them for legal tender through digital currency exchanges.

Like other public blockchains, the Pi blockchain will allow external wallets to hold Pi coins and transact directly with the blockchain network. However, unlike other blockchains, its developers have not yet released its source code.

Pi's user interaction
In December 2020, Pi developers launched a new Pi Brainstorming application, encouraging users to put forward ideas for the construction of Pi network, and improve the development and operation of Pi network.

The era of early Pi users quickly accumulating Pi coins is gone. With several halvings of Pi, PiCity predicts that the price of Pi may rise sharply after the launch of Pi's Phase 3 mainnet. Although the halving reduces the output of Pi, new users can recommend new members to join the Pi network to obtain more Pi coins, which will further increase the demand for Pi and further promote the Pi halving process.

The developers of the project claim that the security of the Pi network can be enhanced through a personal network, thereby encouraging users to recommend friends and family. This has aroused some people's suspicion and is considered to be a pyramid scheme of pulling heads. But it is worth noting that users can only earn Pi coins from their own first-level recommendations, and cannot make money from their connected networks like the MLM solution.

Pi coin price prediction for 2021-2025
Some cryptocurrency observers have already begun to predict the value of Pi coin after it is listed on the exchange.

On March 18, Digitalcoinprice released its Pi Coin 2021-2025 price forecast. As shown in the figure, like other newly issued digital currencies, the initial value of Pi Coin may be a relatively low level of 1 cent per coin, but It will steadily rise as its utilization rate grows, and will finally exceed 3 cents in 2028. PiCity editors all laughed out of pigs, is this come to be funny?

However, on March 19, the website deleted all information about its Pi coin forecast.

Crypto exchange Changelly believes that based on Pi's cryptocurrency users and the number of exchanges, if Pi is launched at the end of 2021, the conservative price may reach $1. In the long run, the price may rise to $5 by 2025.

Will Pi coin break through 1 USD in the future? Even as the official propaganda, once Pi is officially launched, with a massive user base and access platform, a Pi coin is worth $100?

Before that day arrives, any forecast is unreliable. Please follow PiCity to be the first person to discover a more accurate PI/USD price forecast.

common problem
When will Pi coin enter the market?

Pi Coin plans to start trading in the third phase of Pi network development. The launch date has not yet been determined, which will depend on the progress of the testing phase and subsequent listing on cryptocurrency exchanges.
What is the value of Pi?

Pi currently has no value and cannot be traded on exchanges. According to some forecasts, its initial value may be between $0.01 and $1.
Will the price of Pi increase in the future?

The price of Pi coin will depend on its popularity among cryptocurrency investors. If it is recognized by the broader cryptocurrency market, it will continue to rise. Since new projects are more likely to attract investor interest, the price may rise steadily after the issuance.
Is Pi Coin a good investment?

Currently, investors cannot trade Pi coins. Currently it is a free mining stage, which is a very good coin hoarding period. Pay attention to PiCity and we will take you into the world of Pi.