Home Cryptocurrency What is Pi Network and how did it begin?

What is Pi Network and how did it begin?

by Bonafide
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Hello Pioneers! Welcome to Pi Talk blog. This is going to be my first article here and I want to talk about Pi Network since Pi Talk was born to prepare for Pi Network launching hopefully this year.

What is Pi Network and How did it begin?

I do believe that the goal of the Pi Core Team headed by Dr. Nicolas Kokkalis is to bring cryptocurrency to everyday people without the massive price tag to run and setup 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 in obtaining Pi using our mobile phone which I think was a brilliant idea from Stanford Professors.

As the world becomes increasingly digital, cryptocurrency is a 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.

Pi Network WP

On March 14, 2019 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 Stanford brilliant minds (PCT) the creator of Pi Network did realize that the cryptocurrency can totally disrupt our current financial system. But obtaining or mining cryptocurrency such as Bitcoin was not possible for average people.  There is no way that an average person can compete in mining Bitcoin specially when competing with the company that has a huge Bitcoin mining farm such as Bitmain or any other Bitcoin farm all over the world.  When the Pi Network whitepaper was published the Bitcoin price was already around $3500 which means we, the everyday people cannot afford to invest or buy.

How did Pi Network begin?

According to the The Politic report Vince McPhillip former Pi Network Core Team and served as a Head of the Community at Pi Network was exploring how to bring the power of cryptocurrency to everyday people,

…and in the spring of 2018 I met the two brilliant Stanford PhD’s and a visiting researcher who were responsible for teaching Stanford’s first Decentralized Applications on Blockchain class.

Vince McPhillip

They’ve 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 and the PCT eventually launched Pi Network on Pi Day of 2019 (3/14/19).

At the time of this writing the Pi Network Pioneers has grown up to 17 million plus pioneers worldwide.

Today, everyone is sitting on a veritable treasure trove of untapped resources. Each of us spend hours day on our phones. While on our phones, each of our views, posts or clicks creates extraordinary profits for large corporations. At Pi, we believe that people have the right to capture value created from their resources.

Pi Network WP

Pi Network was created for everyday people like you and me.

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1 comment

Elvisjoe May 15, 2021 - 1:24 am

I really have huge interest in pi network and I’m very keen to promote any positive post about it..the core team have done so well towards this goal actualization. I also hope people around the world would stop doubting and start mining .

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