π

Purpose and Intended Use

Pi Network is a cryptocurrency project that aims to make cryptocurrency mining accessible to everyday users through mobile devices. The project claims to use a novel 'Security Circles' consensus mechanism that allows users to mine Pi tokens using their smartphones without significant battery drain.

Business Model and Platform

The platform operates through a mobile app where users can 'mine' Pi by regularly checking in and validating their presence. The network claims to be building a comprehensive ecosystem including a marketplace, peer-to-peer payments, and other applications.

Development Activity and Current Status

As of 2024, Pi Network remains in a closed mainnet phase. While the platform has launched its blockchain, Pi tokens are not yet freely tradeable on external exchanges. The development team continues to work on KYC verification for users and building out the ecosystem.

Token Distribution

Pi Network's token distribution model involves mining through mobile devices, with early adopters receiving higher mining rates. The exact distribution of tokens between founders, developers, and users is not publicly disclosed in detail.

Actual Usage and Adoption

The network claims millions of users globally, though actual utility is currently limited to a contained ecosystem. Some internal marketplaces and peer-to-peer transactions are possible within the Pi ecosystem, but external trading is not yet enabled.