In today’s wealth sectors people are looking forward to invest in cryptocurrencies for long term investment. Some of the popular cryptocurrencies are Bitcoin and Lite Coin. There are many new cryptocurrencies emerging in the market like Petro, OneCoin, one of them is the Pi Network (PI). The Pi Network is causing a stimulation in the cryptocurrency industry. The project of Pi network is been developing since 2018, but still appears to be in testing. There are reports which already have predicted value of the cryptocurrency, when it is live.
People nowadays look at Pi Network as a way to get connected to a cryptocurrency from the bottom and get long term profits in future. For example, bitcoin which was mined and now the holders of cryptocurrencies have massive profits now. On the other side some people find it as a Multilevel Marketing Scam which will have no value in future.
The Pi Network is a digitalized currency which aims to have crypto mining transparent and accessible. It is mainly based on the centralism of earlier generation of cryptocurrencies for instance bitcoin.
Earlier the adopters of bitcoin would be able to mine the digital coin with help of a regular computer CPU, the way of mining was been taken over by gigantic pools of mining with a specialist in hardware. This project was first developed by a batch of Stanford University Graduates, which aimed to forward balance and enabling the end user to mine the coins via a smartphone app.
The phase 1 of the project was launched in 2019 on 14th March, which is celebrated as World Pi Day. A free Pi mining application was also launched. By the end of June, 2019 there were more the 100,000 active users who joined the network. In the consecutive year phase 2 was launched where there were more than 3.5 million people joined. The application initiated running ads during May, 2020 to offer a source of finance in the project. Recently in the end of May,2021 the users have reached to 18 million, by crossing 12 million stages during February,2021.
The Pi Network is the platform where the Pi coin runs. The Pi coin is designed in such an away that it can undergo regular “halving” for protection. As per the mining rate of Pi it has halved by 1.6 Pi/hr when it had reached to 100,000 users. Later the mining rate was again halved to 0.4 Pi/hr when it had reached to 1 million users. They are predicting to halve the mining rate to 0.2Pi/hr when reached to 1 million. Respectively they will continue to halve when reached to zero with 1 billion users.
In the month of January,2021 the developers were capable to communicate with the test net. They also introduced new feature in their app called as Pi Brainstorming app, which helps users to make other people aware about the Pi network. Also, it allows the users to join different projects in the Pi Network
Pi Coin Price Predicted
Like the other digital coin, the Pi coin continues to grow. According to the coin data flow on 3rd August, 2020 the price estimated was $1.32 to $1.35. Also, predicted that the price will rise to $1.48 by 2021 at the growth rate of 1%. The price prediction of 2021-2025 was foreseen that the coins price would rise on an average of $0.0108 in 2021 to $0.0127 by next year, and $0.0212 respectively by 2021. In case of long term, the average price predicted by the end 2028 is $0.0319. These prices estimated were been deleted later on from the Pi network website.
Thus, once the cryptocurrency Pi coin is live in the market, we will be getting a clear idea of the price estimated. As per the reports and statistics the value of Pi may rise to $5 by the end of 2025.
