What Is Pi Mining?
Pi mining is a way to earn the cryptocurrency Pi (π) by using a mobile app developed by the Pi Network team. The app allows users to mine using only their smartphones, rather than specialized mining equipment. The mining process is based on a consensus algorithm called "Proof of Stake" (PoS), which allows users to mine the coin by simply holding and "staking" their cash in the app. This is in contrast to the more energy-intensive "Proof of Work" (PoW) algorithm used by coins like Bitcoin, which requires specialized mining equipment.
The Pi Network is a decentralized cryptocurrency that uses a mobile app to allow users to mine coins using only their smartphones. The coin is still in its early stages, having launched in March 2019 as a concept, and is currently in the test net phase.
The Pi Network team, led by Stanford PhDs, is building a new type of cryptocurrency that is more accessible and decentralized than current options. The team aims to make mining accessible to everyday users by allowing them to mine coins using only their smartphones, rather than specialized mining equipment. The idea behind this is to democratize the mining process, making it more inclusive for the general population.
Pi Coin Predictions 2023 – 2025
It is important to note that the Pi network is still not available on the main net. This means the current price of the Pi coin is below the $1 mark.
However, this is not expected to hold for long. According to the development team, the smartphone minable coin will hit the public space this year. These are some of the expected price gains for the coming years:
End of 2023: If Pi coin develops new use cases it could end up trading at $5 per coin
End of 2024: Pi coin has been on a downtrend since reaching its all-time high (ATH) of $344 and looks to be heading toward $40.
End of 2025: With a well-oiled marketing strategy and a strong performance our Pi price prediction for 2025 could see it reach the $60 mark.
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