What is Pi Network, and How did it begin?
I do believe that the goal of the Pi Core Team (PCT) – Stanford University professors – headed by Dr. Nicolas Kokkalis is to bring cryptocurrency to everyday people without the massive price tag to run and set up a very complex mining rig.
Pi Network was conceived with regular folks like you and me in mind. One goal of the PCT is to create an economic playing field that is fair and equal for everyone. Pi Network introduced a very easy, USER- and PLANET-FRIENDLY consensus algorithm to obtain a cryptocurrency called Pi using our mobile phone, which I think is brilliant.
As the world becomes increasingly digital, cryptocurrency is the next natural step in the evolution of money. Pi is the first digital currency for everyday people, representing a major step forward in the adoption of cryptocurrency worldwide.
On March 14, 2019, the Pi Network application was officially launched with the vision to “build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency.”
The geniuses from Stanford – the creators of Pi Network – realized that cryptocurrency can disrupt our current financial system. But obtaining or mining cryptocurrency such as Bitcoin was not possible for average, everyday people. There is no way that an average person (everyday people) can compete in mining Bitcoin, especially when competing with a company that has heavily invested in BITCOIN mining rigs and have a huge BITCOIN mining farm, such as Bitmain for example.
When the White Paper of Pi Network was published, Bitcoin’s price was already around 3500 USD, which means we, the everyday people, cannot afford to invest in or buy the same.
How did Pi Network begin?
According to a news report culled from the web, Vince McPhillip, a former Pi Network Core Team and who served as Head of Community at Pi Network, was exploring how to bring the power of cryptocurrency to everyday people. In the spring of 2018, he met two brilliant Stanford PhD’s and a visiting researcher who was responsible for teaching Stanford’s first Decentralized Applications on Blockchain class. They discussed how to “show” not just “tell” the power of blockchain technology and that they could directly develop a technology that would put the power of blockchain technology into the hands of everyday people. So the PCT eventually launched Pi Network on Pi Day in 2019 (3/14/19).
As of this writing, the number of Pi Network “engaged” Pioneers has ballooned to more than 35 million worldwide.
“Today, everyone is sitting on a veritable treasure trove of untapped resources.”
Each one of us spends hours daily on our phones. While on our phones, each of our views, posts, or clicks creates extraordinary profits for large corporations. Why not also spend a few seconds on Pi? In doing so, we are putting power into the hands of everyday people.
At Pi, we believe that people have the right to capture the value created from their resources. Pi Network was created for everyday people like you and me.
KEEP MINING PI FELLOW PIONEERS!
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