Pi Network Price Prediction and Features
It has engaged millions of people, but is still to launch its own coin. That's why making a Pi Network price prediction is so challenging!
Pi Network was created in 2019 by a group of Stanford University graduates. Unlike other cryptocurrencies, Pi does not require any specialized hardware to mine. Instead, users can mine Pi using their mobile devices, which makes it accessible to a much larger audience.
The Pi Network is built on a unique consensus algorithm called the "Proof of Work/Proof of Stake" hybrid model. This algorithm allows users to mine Pi by verifying their identity and contributing to the network's security by verifying transactions.
Pi Network's consensus algorithm is designed to be lightweight, energy-efficient, and more accessible than the mining algorithms used by other cryptocurrencies. Pi has a limited supply of 10 trillion coins, which will be gradually released into circulation as users mine and verify transactions on the network. Currently, the Pi Network is in its beta testing phase. Users can earn PI coins by simply downloading the Pi Network app (read to the end to know how to download the Pi app) and creating an account.
One of the unique features of the Pi Network is its social mining approach. Instead of competing against each other for rewards, users are encouraged to build their networks of trusted contacts and earn additional PI coins by inviting new users to join the network. This social mining approach creates a more inclusive and collaborative community where users can work together to build the network and earn rewards.
Another important aspect of the Pi Network is its focus on user privacy and security. The Pi Network uses a combination of advanced cryptography and blockchain technology to protect user data and prevent fraud.
Transactions on the network are verified using a decentralized consensus mechanism, which ensures that all transactions are valid and there is no possibility of user-ended issues.
Furthermore, even without an active coin, the Pi Network has launched a wallet and a browser for users to experiment with. This way, early adopters can get familiar with how the Pi system operates and get straight to extracting their coins when the coin drops.
Unlike other cryptocurrencies that require massive amounts of energy to mine, the Pi Network's consensus algorithm is designed to be energy-efficient and sustainable. This makes PI a more eco-friendly alternative to other cryptocurrencies like Bitcoin, which have come under scrutiny for their massive energy consumption.
25 million users without an active coin?!
A huge pointer to Pi being an exciting project is the fact that the company has managed to accumulate more than 25 million users on its platform – even before launching the PI coin or the mainnet!
This is also one reason why getting a Pi Network price prediction in place is almost impossible. When there's no coin in circulation yet, you have to make a calculated prediction about its future value, which is the case for the Pi Network coin.
The platform's marketing has been on-point, and there's real value in the Pi Network, leading to a huge user base. Moreover, the team behind Pi have done a great job of being active and not letting the user base sit idly while the network is being developed.
Pioneers, Contributors, Ambassadors, and Nodes
Pi has allocated four roles for its users, providing ownership to them and allowing multi-level marketing to take place.
Pioneers are general users registered on the Pi Network app. These users must verify their identity daily to ensure they're not tagged as bots by the app.
Contributors are basically pioneers who have taken part in three mining sessions. This role is just a virtual medal for active users taking part in the network's activities.
Ambassadors, well, do what their name suggests. They act as ambassadors of the Pi Network, bringing in other users to the platform for further rewards.
Nodes, lastly, are users who participate in the node software on their computers, interacting with other nodes to generate as many coins as possible. They can "generate" coins and collect them, but there won't be any earnings yet. The users will be able to gain all the tokens they've generated ONCE the coin gets released.
A system like this allows users to feel connected with the platform, which is one of the main reasons for the network's popularity.
The Pi Network also held a hackathon for developers to test their DApps on the platform. This was done with the help of the Enclosed Mainnet of the Pi Network, allowing developers to deploy various DApps.
Of course, these DApps will be publicly operational once the mainnet is released – which is unknown and unannounced for now. The activities will be powered by the PI coin, allowing transactions for all kinds of applications.
Pi Network price prediction
As we mentioned above, considering the PI coin hasn't been released, and the mainnet's release is yet to be announced, too, giving a Pi Network price prediction is tough.
Nonetheless, there are still a few opinions by experts and analysts in the industry.
A lot of sources advise users to stay away from the Pi coin, as there is much ambiguity regarding its future – a valid point. When you don't know when the coin and the main network will launch, it's smarter to wait until more information is available.
On the other hand, a few websites have estimated a Pi Network price prediction. DigitalCoinPrice, for example, thinks that the PI coin will launch around the $0.007 mark.
Pi Network price prediction 2023, 2024, 2025
Generally, this prediction for the Pi Network will be a shot in the dark, with little to no information at our disposal. However, we can still take some factors into play and get some understanding of the PI coin's future price.
For example, we know that the Pi Network project is unique, and it looks very promising even at its current stage. With millions of users already participating in its activities, the network seems strong, which is always a great look for the company's future valuation.
We suspect that the Pi coin could reach $0.009 or even $0.01 by the end of 2023 if there’s enough social hype around the app. By the end of 2024, the price could push even further if the developers manage to maintain the utility of the Pi network, keeping the users engaged within the app.
Lastly, we could see the Pi coin cross the $1 mark in the future, perhaps by 2025, if the crypto market returns to stability by then.
Overall, the Pi Network and PI coin represent an exciting new development in cryptocurrency. With its innovative consensus algorithm and social mining approach, Pi has the potential to become a significant player in the world of digital currencies. If you want to discover more about Pi, you can download the Pi Network app here!
Author: Osama Shahid
Osama Shahid is an experienced writer and editor, mainly writing about gaming and crypto. In his free time, he loves to game, playing FIFA 23 and Rocket League.