What is Pi Network?

Source : https://heshitech.com/what-is-pi-network-what-is-its-future/

As we all know that the most famous Cryptocurrency is Bitcoin or Etherium. Now a day’s everyone is talking about Pi Network. What is Pi Network? or is it real or fake?. Everyone is asking that this gonna be the number one Cryptocurrency like Bitcoin. But, no one knows the launching date of this currency.

When Pi Network was Released?
Pi Network was launched on 14th March 2019 and still, its currency is not launched. Many people are asking that it is launched and has a value of few cents, well it’s all fake. Pi cryptocurrency is still mining by the original developers. When it gonna be released, no one knows. 3 years are passed and no sign of releasing this currency.

How to use Pi Network?
Pi is an app-based platform where anyone in the world can start making . The user has to open the Pi application after every 24 hours and click on the start button to start making . This application tells the user after 24 hours by notification to start mining the Pi. After every 24 hours, it automatically stops.

Is it available in the future or not?
Well, the developers of the Pi network have provided the complete information of this platform. They have published a Whitepaper on their official Pi website telling their complete details about this network. No one knows when is currency is gonna release and what value will it have. Expert says that if this currency will release, it doesn’t have any value. Because millions of users have produced millions of . So, if everyone got this for free, then who will pay for these coins which are produced for free?. So there is a genuine confusion that is gonna release or how much value will it have after releasing.

According to some information on Linkedin. Pi network has 70 employs in 2021. Many of them are App developers and Cryptocurrency traders. They have an amazing growth of getting reviews from the Play store of about 170k+.

Pi Coin Details
Pi Network allows mining without any computing power. And mining power affects the demand for cryptocurrency, and if it does not requires any power to mine then it not gonna have any effective value that the Pioneers say that they are rich or something.

However, in the Pi app, there is a referral system from where the user has to add users to boost the mining. As per the user, the mining increases which helps the user to make more at the same time.

The mining speed of the Pi Network is calculated according to this formula:

X * 25% * (0.39PI/HR + 0.39), WHERE X IS THE NUMBER OF REFERRALS

If a user has 10 referrals, then its speed will be according to this Formula:

10 * 25% * (0.39PI/HR + 0.39) = 1.975 PI/HR (1.975 PER HOUR)

Conclusion:
As we talk that this currency is not released yet, and no one knows when it will release. It is in the mining process for the last 3 years. Developers of the Pi network claim that they will release it in 2020 but they haven’t released it yet. According to some Cryptocurrency experts, this is not gonna release. And if it released then don’t have any good value because everyone is making it for free and no one gonna pay for these coins which are produced without any effort or computing power. Because the higher computing power is equal to the value of cryptocurrency. Bitcoin and Etherium is a live example in front of everyone.

Source : https://heshitech.com/what-is-pi-network-what-is-its-future/

However, in the Pi app, there is a referral system from where the user has to add users to boost the mining. As per the user, the mining increases which helps the user to make more at the same time.

So, is it a pyramid scheme?

Like the MMM of valueless ?