Pi Network: From a revolutionary idea to a real cryptocurrency

Pi Network is gradually transforming from an experimental project into a serious player in the cryptocurrency market. Launched by Stanford PhDs Nicolas Kokkalis and Chengdiao Fan, this platform offers a completely different perspective on how ordinary people can interact with blockchain.

Why Pi is Different from Other Cryptocurrencies

The main innovation of Pi lies in its accessibility. Mining is done through a regular smartphone without specialized equipment or deep technical knowledge. Instead of energy-intensive Proof-of-Work like Bitcoin, Pi uses the Stellar (SCP) consensus protocol, which consumes minimal electricity.

This architecture has allowed the project to attract tens of millions of users worldwide. Anyone can start mining simply by downloading the mobile app and confirming activity once a day.

How the Pi Network Actually Works

Network security is built on the concept of “Security Circles” (Security Circles). Users form a mutually verified network where each verifies the authenticity of their contacts. This creates a distributed verification system without the need for massive computational power.

The system rewards various activities:

• basic rewards for daily sign-ins
• additional coins for expanding trust circles
• bonuses for running full nodes

The reward structure involves a gradual reduction of annual limits, ensuring the project’s long-term sustainability.

Token Distribution: Community First

The total maximum supply of Pi is capped at 100 billion coins. Distribution favors the community: 80% (80 billion) allocated for miners and ecosystem development, with only 20% (20 billion) going to the core team.

Of the 80 billion for the community, the distribution looks like this:

• 65 billion for mining rewards
• 10 billion for ecosystem development and funds
• 5 billion for liquidity provision

A significant portion of these funds is directed toward funding decentralized applications (dApp) and grants for developers.

What Changed After Moving to Open Mainnet

In December 2021, the project transitioned from a testnet to a closed mainnet, then began the open network phase. This allowed Pi coins to be traded on legitimate cryptocurrency exchanges for the first time.

However, participation in trading requires Know Your Customer (KYC) verification. This step prevents fake accounts and guarantees that one user equals one account. While some criticize the bureaucratic process, it is what sets Pi apart from dubious schemes.

Current Market Situation

As of January 2026, Pi is trading at $0.21. This price is significantly lower than the historical maximum of $3.00, reflecting overall consolidation in the crypto market. However, the circulating market cap has reached $1.75 billion, indicating sustained interest in the project.

The gap between ATH and the current price does not necessarily indicate failure. Many blockchain projects have gone through similar cycles. More important is to pay attention to the ecosystem development pace and the number of active users.

Ecosystem Development Prospects

Pi Network actively attracts developers to create applications on its platform. Regular hackathons fund innovative projects in e-commerce, gaming, and financial services.

The project’s long-term strategy is to turn Pi into a global payment system backed by real goods and services. This involves expanding the network of nodes, developing cross-chain capabilities, and partnering with traditional companies.

Should You Consider Pi as a Serious Project?

Indicators of legitimacy include:

• founders with verified profiles at Stanford
• years of development without promises of quick riches
• no initial investment requirements
• successful transition to the main network
• regulated features (KYC, verification)

Critical remarks often relate to the lengthy development process and uncertainty about mass adoption speed. But complex blockchain projects truly require years of work.

How to Start Interacting with Pi

For beginners, the easiest way is to download the Pi Network mobile app, create an account, and confirm activity once a day. No fees, and it takes little time.

If you plan to trade, you need to complete KYC verification and migrate your coins to the open mainnet. After that, Pi can be transferred to cryptocurrency exchanges for sale.

Conclusions

Pi Network represents an interesting experiment in democratizing access to cryptocurrencies. Its main advantage is mining on smartphones without specialized equipment. The main challenge is to ensure real integration into the economy and maintain community interest after the hype stage.

For those interested in blockchain and wanting to experiment without financial risk, Pi Network offers an intriguing opportunity. But it’s important to understand that this is a long-term game based on communal values, not quick speculation.