Pi Network: The Smartest Way to Earn Crypto on Your Phone!
Key Points of Pi Network
– Pi Network is a cryptocurrency you can mine using a mobile app, aiming to be accessible to everyone.
– It launched its mainnet on February 20, 2025, and is now in the Open Network phase, allowing trading on exchanges.
– The current price is around $1.58 as of February 24, 2025, but it has faced price volatility.
– There are concerns about delays, data privacy, and the long-term value of Pi coin, which remain debated.
Pi Network Cryptocurrency
Pi Network is a project designed to make cryptocurrency mining easy and accessible, letting users mine Pi coins directly from their smartphones. Launched in 2019, it has grown to millions of users worldwide, using a trust-based consensus mechanism based on the Stellar Consensus Protocol (SCP). This approach aims to be energy-efficient and community-driven, relying on users called Pioneers to secure and operate the network.
After multiple delays, the mainnet launched on February 20, 2025, moving into the Open Network phase. This means Pi coins are now tradable on major exchanges like OKX and Bitget, marking a significant step toward real-world use. However, the price has seen ups and downs, starting at around $1.58 today, February 24, 2025, with a history of volatility since launch.
Features and Technology
Pi Network stands out for its mobile-first approach, requiring minimal battery drain and no expensive hardware. It uses SCP for consensus, which is faster and less energy-intensive than Bitcoin’s proof-of-work. The network has different phases, including Beta, Testnet, and now Mainnet, with the Open Network phase enabling external connectivity.
Pi Network represents a unique approach to cryptocurrency, aiming to democratize mining by leveraging mobile technology. This section provides a detailed examination of its origins, mechanics, current status, and the controversies surrounding it, offering a professional and thorough overview for readers seeking in-depth insights.
Origins of Pi Network
Pi Network was launched on March 14, 2019, coinciding with Pi Day, by Stanford graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both with PhDs in computer and social sciences. The project’s mission is to build a cryptocurrency and smart contracts platform secured and operated by everyday people, targeting populations excluded from traditional crypto due to lack of capital, knowledge, or technology. It has grown to over 35 million engaged Pioneers, reaching nearly all countries, as noted in its official roadmap at [minepi.com/roadmap](https://minepi.com/roadmap/).
The vision is to create the world’s most inclusive peer-to-peer ecosystem, fueled by Pi, with a total max supply of 100 billion Pi coins. The economic model allocates 80% to the community (65 billion for mining rewards, 10 billion for community organization, 5 billion for liquidity pools) and 20% to the core team, as detailed in the white paper at [minepi.com/white-paper]
Pi Network Mining
Pi Network’s mining is mobile-first, requiring users to download the app from Google Play or Apple App Store and mine daily with an invitation from an existing member. It uses the Stellar Consensus Protocol (SCP), a Federated Byzantine Agreement (FBA) system, which is energy-light and faster than Bitcoin, with block times of 3-5 seconds compared to Bitcoin’s 10 minutes, and scalability up to 2,000 transactions per second (TPS).
The consensus relies on a trust graph aggregated from individual Security Circles, where users confirm their presence daily, provide trust, introduce new users, or run Nodes on desktops/laptops. Mining rewards are meritocratic, with pre-Mainnet rates starting at 3.1415926 Pi/hour, halving at 10x network size milestones (e.g., 1K, 10K, 100K, 1M, 10M Pioneers), and Mainnet formulas including rewards for lockup, node operation, app usage, and future contributions. The white paper outlines these formulas, such as pre-Mainnet M = I(B,S) + E(I), where I(B,S) = B + 0.2*min(Sc,5)*B, and Mainnet M = I(B,L,S) + E(I) + N(I) + A(I) + X(B).
Nodes contribute to network growth, with rewards based on uptime, port open factor, and CPU factor, aiming for scalability solutions like bloXroute at [bloxroute.com](https://bloxroute.com/) for faster message passing. The network has seen over 10,000 fully functional community Nodes during Testnet, with 100,000 daily active Nodes on the waiting list, as per the roadmap.
Pi Network Development
Pi Network’s roadmap includes three phases: Beta (December 2018 – March 14, 2019), Testnet (March 14, 2020), and Mainnet, split into Enclosed Network (started December 2021) and Open Network. The Enclosed Network was firewalled, preventing external connectivity, while the Open Network, launched on February 20, 2025, at 8:00 AM UTC, enables external interactions, as announced at [minepi.com/blog/open-network](https://minepi.com/blog/open-network/).
The Open Network launch met conditions like over 19 million KYC’d Pioneers and 10.14 million Mainnet migrations, exceeding the 10 million goal, as per the update at [minepi.com/blog/open-network-launch-date](https://minepi.com/blog/open-network-launch-date/). This phase supports integrations with centralized exchanges (CEXs) like OKX and Bitget, and onramps, facilitating Pioneers to connect with the wider crypto ecosystem.
Pi Network Market Performance
As of February 24, 2025, Pi coin is trading at $1.58, with a 24-hour trading volume of $877,715,831.41, according to [CoinGecko](https://www.coingecko.com/en/coins/pi-network). The price has seen significant volatility since the mainnet launch, with an all-time high of $1.97 and an all-time low of $0.6157 on February 20, 2025, reflecting the market’s reaction to the transition. The fully diluted valuation is $15,771,663,946, with a total supply of 9,973,806,508 and a max supply of 100,000,000,000.
Before the launch, Pi coins were not tradable, and their value was speculative, with IOUs trading at higher values (e.g., $92 before launch, as per [coinpedia.org/news/pi-network-open-network-launch-date-revealed-pi-token-surge-80](https://coinpedia.org/news/pi-network-open-network-launch-date-revealed-pi-token-surge-80/)). Post-launch, the price crashed to $1.5, surprising many investors, as reported at [coinpedia.org/news/pi-network-mainnet-launch-sparks-surge-pi-coin-price-hits-1-5-at-debut](https://coinpedia.org/news/pi-network-mainnet-launch-sparks-surge-pi-coin-price-hits-1-5-at-debut/).
Pi Network Future Prospects
Pi Network’s ecosystem includes the Pi Browser, Pi SDK, Pi Wallet, and a decentralized app store, supporting transactions for goods and services. It aims to create utilities like an Attention Marketplace for bartering attention and a Barter Marketplace for virtual storefronts, as outlined in the white paper. Governance is planned in two phases: provisional (off-chain, Core Team guides with community input) and constitutional convention (committee forms for long-term governance), detailed at [minepi.com/white-paper](https://minepi.com/white-paper/).
The future depends on community engagement, with upcoming challenges like the Open Network Challenge in the app, as mentioned at [minepi.com/blog/open-network](https://minepi.com/blog/open-network/). However, its long-term viability remains uncertain, with predictions suggesting prices could drop as low as $11.46 this year, as per [ccn.com/pi-network-pi-price-prediction](https://www.ccn.com/pi-network-pi-price-prediction/).
Detailed Metrics and Technical Insights
For a deeper dive, consider the following table summarizing key metrics:
| **Metric** | **Value** |
|—————————–|——————————-|
| Current Price | $1.58 |
| 24h Trading Volume | $877,715,831.41 |
| 24h Price Change | 2.0% |
| 7d Range | $0.6423 – $1.84 |
| All-Time High | $1.97 (Feb 20, 2025) |
| All-Time Low | $0.6157 (Feb 20, 2025) |
| Fully Diluted Valuation | $15,771,663,946 |
| Total Supply | 9,973,806,508 |
| Max Supply | 100,000,000,000 |
Node specifications include using ports 31400-31409, with Super Nodes requiring 1/8th open ports, and CPU factors for scalability, potentially handling up to 10,000 transactions per block for 170 million transactions per day, as per the white paper.
Conclusion
Pi Network’s launch marks a pivotal moment for mobile cryptocurrency, offering accessibility but facing challenges in proving its value and addressing privacy concerns. Its success hinges on community adoption and ecosystem development, with ongoing debates about its legitimacy and future. For the latest updates, visit [minepi.com](https://minepi.com) or track market trends at [CoinGecko](https://www.coingecko.com/en/coins/pi-network).
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