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Pi coin is a highly popular cryptocurrency with over 35 million users.
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PI/USDT has plunged on Huobi after the developers disavowed it.
Pi coin is one of the most popular and highly anticipated cryptocurrencies in the world. User metrics show that support for the Pi Network has been soaring in the past few months. Its official Twitter account has over 2 million followers, which is bigger than that of mainstream cryptocurrencies like Cardano and Polkadot.
Pi Network ecosystem is growing
Similarly, Pi Network apps are also highly popular, with the Android version having more than 50 million downloads. Further, Pi Browser has over 10 million users globally. At the same time, the network’s ecosystem is growing, with a number of developers building on the ecosystem rising. Some of the top apps that are being built in Pi are PiCare, Pi Chain Mall, and World of Pi Championship among others.
The number of Pi coin users has also been growing and currently stands at more than 35 million. In a bid to grow the ecosystem, the developers are carrying out a hackathon that will see developers showcase their applications.
For starters, Pi Network is a platform that was launched in 2018 to offer better tools and features than Bitcoin and existing cryptocurrencies. As part of its strategy, the developers made it easier for people to mine the coin using their smartphones.
Mining Pi coin using a smartphone works using the Stellar Consensus Protocol (SCP), which uses the Federated Byzantine Agreement, which helps to ensure no energy waste and faster speed of transactions. In its ecosystem, Pi miners can become a pioneer, contributors, ambassadors, and node. Miners simply visit the app, confirm transactions, and then receive rewards,
Is Pi Network worth anything?
There are several questions that are common about Pi Network and Pi Coin. For example, there are questions about whether the network is a legit one or a scam and whether it has a future. Other users have a question about how to convert their Pi coins into cash.
For now, it is difficult to come up with a Pi Coin price prediction since the network is still in an enclosed mainnet. As a result, it is unclear when the coin will be launched in major exchanges and the price in which it will start trading at. Most importantly, it is still unclear whether it will ever be launched on exchanges. Besides, Pi has been around since 2018.
It is possible to trade Pi today. In December, several exchanges, including Huobi Global listed PI/USDT which is supposed to mirror the performance of the real Pi coin. We wrote about this here. After soaring on its first few days, PI/USDT price has plunged by over 80% after the real developers disavowed the network.
Therefore, for now, Pi Coin is a wildcard in the crypto industry, and I don’t believe it is worth your time until it is pushed to exchanges. Pi Network is not worth anything even though the ecosystem is growing.