How Good is the Pi Network Cryptocurrency? Is it Legit or Scam?

Hello & Welcome to my Blog, If you have question in your mind that how good is the Pi Network Cryptocurrency then you are at the Wright place. That's it, your research about this question will over here.

I have always been faraway from all the hype around digital currency in general but I do the research.

I started making some research on the Pi Network and found that it's not only very legitimate but also innovative digital currency initiative, but more importantly, it is still at the right stage to jump in it with an excellent risk-reward ratio. Of course, there is no guarantee that it will be a successful project, but what you tent to lose is a few 1-2 minutes a day of hitting a button on your phone and the mobilization of your network of friend and family at no any financial cost to you or to them for a possible reward of amassing a lot of Pi digital currency that could be very valuable in the future if the project will be successful.

Here is the User Interface of Pi Network App.

Source: Google Image

Below is the summary of the findings of my own research on the PI Network and my recommendation on it.

1. It is a project launched by three Stanford University PHDs named: Dr. Nicolas Kokkalls (Head of Technology), Dr. Chengdiao Fan (Head of Product) & Vincent McPhillips (Head of the Community).

2. This company only offers a service, but no product. After downloading the Pi Network app, you need to confirm that you are a human not robot by clicking a lightning symbol on the app at 24 hours of intervals. This will continue the mining process at a predetermined rate on your mobile (currently 0.2pi/hr) without draining your mobile battery. You are free to close the app after that action without discontinuing the mining process.

3. It is a FREE App. Free to download (no ads) either from Google Play or Apple Store. You may search pi, pinetwork, or minepi.

4. Members can join only on invitation from other members who have already joined it. You can boost your mining rate by inviting other new members to join using your code. You are welcome to use mine code to join if you decide to or if this review adds any value to you ( krishnashah365 ).

5. After three days of successful mining, you will able to qualify to become a contributor and you can form a security circle of 3 to 5 trusted members. This will boost your mining rate as well.

6. The mining rate has been halving for any multiple of 10 members that the network achieved. The project started in March 2019 at a rate of 3.1 Pi/hr and in November 2019 the network reached 1 million members and currently having 9 million with mining rate of 0.20 pi/hr.

7. The next milestone is at 10 million members and its already reached 9 million members. It is not yet clear if the mining process will be discontinued at that stage or if it will continue to reduce it speed.

8. On Pi network white paper, there is a summary description of the technology they use is as follows: For Pi, we introduced the additional design requirement of employing a consensus algorithm (The process that records transactions into a distributed ledger) that would also be very much user friendly and ideally enable mining on personal computers and mobile phones. The consensus algorithm that they use is the Stellar Consensus Protocol (SCP) that was architected by David Mazieres who is a Professor of Computing Science at Stanford University as stated in Pi Network white paper as well.

My opinion:

Pi has no value right now, like as Bitcoin in 2008, but could have value in the future. Pi Network is using an innovative digital currency technology that will decentralize the mining of digital currency to the ordinary people and is user friendly through mobile phones. In my view, the risk-reward ratio justifies that I recommended of jumping in while it is still open. As it is going to half its rate of speed at 10 million you can jump in right now as it is at 9 million and left to reach only 1 million to half its mining rate. It is very trusted as it allows to join only through an invite. 

You can use my invite code “ krishnashah365  ” (without quotation marks) or use my username ( krishnashah365 ) as your invitation code and you get 1 Pi as bonus But like for everything in life, feel free to do your own research and explore about Pi Network.

This is only my personal opinion and if you decide to go by it I will appreciate you using my code ( krishnashah365 ) to join. It will bless me in return by boosting my mining rate.