Some cryptocurrencies have features that appeal to a wide range of cryptocurrency users. This is the case with Pi Network (PI), a virtual currency that may be mined on a mobile phone. According to its creators, PI is the first cryptocurrency that may be mined with a simple smartphone app. The mobile mining feature created a frenzy around “how to mine Pi.“
Pi (PI) is the first social cryptocurrency that you can mine on your phone. It was created by Stanford graduate Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, Vincent McPhillips, and Aurelien Schiltz as a beta version on Pi day, March 14th, 2019. The cryptocurrency rapidly caught the attention of individuals who wanted to be a part of a new social network and attempt to mine crypto.
Pi Network may include mining applications in the future, such as Electroneum (ETN), which utilizes your device’s resources to decode the algorithm. However, as of now, Pi Network is working on an algorithm that enables you to mine with ease. The app uses a security protocol called “Proof of Work (PoW),” which allows your smartphone to verify transactions.
Blockchains are the fundamental unit of all cryptocurrencies. Every cryptocurrency begins and continues as a result of the block-solving process. Many computations are performed during mining to combine individual transaction blocks into one chain. A miner is rewarded with new cryptocurrency coins as a consequence.
Step 1 To start mining Pi, simply download the Pi mining app and follow these steps:
Step 2 Sign up using your phone number and full name. Next, create a username. After you’ve completed these steps, you will be able to see the ‘Pi icon’ in the app. Once you tap on it, you will see a message that reads, “Mining is turned off.”
Step 3 Create a profile and enter your personal information. Make sure you give your real name. Continue by filling out the country and phone number fields.
Step 4 Enter the invitation code. There are two methods for obtaining it: Ask your friend who uses Pi Network to share his code with you; you can find the code on Google if you don’t have anyone on the Pi Network.
Step 5 Finish signing up by tapping “Join Pi Network.” You must visit the application daily to show that you are a real person, not a bot. The cryptocurrency will be credited within 24 hours, at which point Pi Network mining should be reactivated. If it’s difficult to remember everything, consider turning the notifications on.
Step 6 Make a little tour with the Pi mining software. You’re now ready to mine PI. Every user is entitled to 1 PI upon registration.
Pi currently has no value. You’d only be mining for virtual coins. If the creators build something of real value in the future, you’ll be able to sell your Pi holdings for a profit. However, the creators do not promise that the project will be a success. As a result, you must choose whether or not you want to put a little of your time earn Pi.
January 31, 2020