A feature of Pi is that you can mine simply by downloading the smartphone app and tapping a button just once every 24 hours. Mining is the process of verifying cryptocurrency transactions and issuing new currency, which generally requires high-performance computers and electricity. However, Pi uses an algorithm called the Stellar Consensus Protocol (SCP) to perform mining based on trust relationships between users, without consuming smartphone processing power or battery2.

Currently, Pi is not yet listed on exchanges, and its value has not been determined.

What is the latest update to Pi Network?

Now, regarding Pi, a major update was made in April 2023. The content of this update is to inform users about apps verified by the Pi Core Team.

The Pi Core Team consists of the developers and operators of Pi, and they determine the vision and policies of the Pi Network. The Pi Core Team aims to provide services and apps using Pi within the Pi Network. To achieve this, they have developed a platform called the Pi Apps Platform and are supporting the development and publication of apps that utilize Pi4.

However, the Pi Apps Platform contained a mix of apps verified by the Pi Core Team and those that were not. Unverified apps did not have guaranteed quality or safety, and some posed high risks to users. Therefore, the Pi Core Team implemented an update to display badges on app icons to distinguish between verified and unverified apps5.

Badges are small marks displayed in the upper right corner of the app icon, and their meaning varies depending on the color and shape. Below are the types of badges and their meanings.

Green checkmark: An app verified by the Pi Core Team, recognized as having high quality and safety.
Yellow warning mark: An app not verified by the Pi Core Team, with unknown quality and safety. Users must use it at their own risk.
Red prohibition mark: An app verified by the Pi Core Team but judged to have low quality or safety, which should be avoided.

Thus, with the latest update to Pi Network, users can now make selections with greater peace of mind when using apps with Pi. Pi Network has announced that it will continue to implement various updates to enhance user convenience and reliability5.

The Appeal of Pi Network and Future Prospects

Pi Network is an innovative cryptocurrency that allows easy mining on smartphones. But that’s not all. Pi Network aims to enable users to exchange value and provide services and apps using Pi. In other words, Pi Network is trying to create a decentralized economic zone, not just a cryptocurrency.

The appeal of Pi Network is that many users who resonate with its vision are participating. Pi Network adjusts the mining difficulty and rewards according to the number and activity of users. This means that the more users there are, the higher the value of Pi becomes. Furthermore, if users leverage their skills and knowledge to develop services and apps using Pi, the Pi Network ecosystem will become even richer.

The future prospects for Pi Network are the launch of the mainnet and listing on exchanges. The mainnet is the full-fledged blockchain, which is currently in a testing phase called the testnet. Once the mainnet is operational, Pi will become a cryptocurrency that can actually be traded. Listing on exchanges will also allow the value of Pi to be determined by the market.

Summary

Pi Network is a project aiming to create a decentralized economic zone using Pi. In April 2023, an update was made to inform users about apps verified by the Pi Core Team. This allows users to make selections with greater peace of mind when using apps with Pi. Pi Network has announced that it will continue to implement various updates to enhance user convenience and reliability. This will make Pi a cryptocurrency that can actually be traded, and its value will be determined by the market.

Pi Network is a project that is easy for cryptocurrency beginners to participate in. By understanding the features and appeal of Pi Network, such as easy mining on smartphones and the mining mechanism based on trust relationships among users, you will likely become interested in the value and potential of Pi. If you also want to join Pi Network, please download the app from the link below and enter the invitation code. The invitation code is my username “fox0326”. Let’s become a member of Pi Network together.

App download link: https://minepi.com/

Explanation of Keywords Appearing in the Article

• Pi: A cryptocurrency that can be easily mined on smartphones. It is the core currency of the Pi Network and is used for exchanging value between users and for using services and apps.
• Pi Network: A project aiming to create a decentralized economic zone using Pi. It was launched by PhD students from Stanford University.
• Pi Core Team: Refers to the developers and operators of Pi Network. They determine the vision and policies of Pi Network.
• Pi Apps Platform: A platform that supports the development and publication of apps utilizing Pi. It contains a mix of apps verified by the Pi Core Team and those that are not.
• Mainnet: Refers to the full-fledged blockchain. It is currently in a testing phase called the testnet. Once the mainnet is operational, Pi will become a cryptocurrency that can actually be traded.
• Exchange: A place where cryptocurrencies are bought and sold. Listing on an exchange will allow the value of Pi to be determined by the market.