Pi Mainnet is now live, initiating the Enclosed Network period of Mainnet phase where the Mainnet blockchain is firewalled to prohibit external connectivity but allows peer-to-peer and peer-to-app transfers within the enclosed network. Mainnet can be viewed in the Pi Blockexplorer. Pi wallet can now show both Testnet and Mainnet balances, although everyone’s balance on Mainnet is 0 right now. As more Pioneers pass KYC, they will be able to transfer their balance to the Mainnet. The KYC solution is coming soon to start verifying Pioneers’ identity and onboarding identity validators.
What is Pi Network Cryptocurrency
Pi is a new cryptocurrency for and by everyday people that you can “mine” (or earn) from your phone. Cryptocurrencies are new form of digital money that are maintained and secured by a community, instead of by governments or banks. Today, you can mine (or earn) Pi by helping to secure the currency and by growing Pi’s trusted network. While most cryptocurrencies (like Bitcoin) have been very hard for everyday people to use and access, Pi puts the power of cryptocurrency into the palm of your hand.
What is the Ambassador role and How does the earning team work
As an Ambassador, you earn up to a 25% bonus on your base mining rate for each person you invite to the network. You become an Ambassador when new members join your earning team by using your invitation code when they sign up for Pi Network.
Each member of your earning team provides a 25% boost to your earnings when they are actively mining. A new member can only be added to their inviter’s earning team, because each member only joins Pi once using one inviter’s invitation code. In other words, unlike the security circles where people can be added into multiple member’ circles based on trust, earning teams are fixed based on who invited whom. Each invitee in the world can only be claimed by one inviter.
What is the Contributor role and How do I become a contributor
Becoming a Contributor allows you to earn more Pi by building a security circle of 3-5 trusted members. Pi’s Contributor role becomes unlocked for users after you’ve finished 3 mining sessions as a Pioneer. After 3 days of mining, you will see a new icon of the security circle on the home screen of the app which you can click to start. To become a contributor, you need to add 3-5 people who you trust to your security circle.
How does this app work and How do I earn more Pi coins
The Pi app allows you to earn Pi coins by making simple contributions to Pi’s community. The more you contribute, the more Pi you earn. To start earning Pi, check in every 24 hours and hit the lightning button to start mining. Once you are mining, you can boost your hourly rate by inviting trusted friends and family to join the community.
After 3 days of mining, you can boost your earnings more by building your security circle, which contributes to the overall security of the network. Keep in mind, earlier members of the network mine at a higher rate than those that come after them.
What are security circles
Security circles are groups of 3-5 trusted people built by each of Pi’s members. Security circles secure the currency by building a global trust graph that prevents bad actors from executing fraudulent transactions.
While cryptocurrencies like Bitcoin secure their ledgers by forcing miners to burn energy (proof of work), Pi secures its ledger when its members vouch for each other as trustworthy. Pi’s Contributors vouch for each other by building security circles comprised of 3-5 members they deem as trustworthy. Security circles should be comprised of people you trust not to execute fraudulent transactions. The network’s security circles form a global trust graph that determines who can be trusted to execute transactions on Pi’s ledger.
Pi Network Cryptocurrency Mining Step by Step Guide
Download PI App from the Google Play store for Android or IOS App
After Downloading and Installig PI App successfully, then open Pi App to create your account by clicking on ‘Continue with phone number’.
You can also click on “Continue with Facebook” create your account.
– Select Your country and enter Your phone number then click ‘Go’.
– Create your password, Verify your password and click ‘Submit’.
– Enter Your First name, Last name and username then click ‘Submit’.
– Enter ‘Invitation code’
– Now that you have successfully completed the registration process of Pi Network account. Let’s go MINE.
STEP 1: Download Pi Network.
1. Download PI App at: Android Google Play Store
2. Download PI App at: IOS App Stores
After you must have downloaded your PI App and installed it successfully: Open App to register your account
Q & A with the Pi Network Core Team
STEP 2: Register – Sign up with Facebook or your mobile phone number
You can verify using Facebook account or cell phone number - When using the inviter's invitation code to join the PI network mining system
STEP 3: Set up your password
Select your own password and type it into the field of Password and Verify your password.
– Select SUBMIT to complete the registration process.
STEP 4: Fill in your profile details (No Nicknames or False names)
- Type your FIRST NAME, LAST NAME and your Username.
- Select SUBMIT to complete the registration process.
STEP 5: Enter the invitation code
- Type “Bigtoff” into the field of Invitation code.
- This field is a required field.
- Select SUBMIT to complete the registration process.
How to mine Pi Network faster
Add minimum 5 persons from your contact list who are already using π network. This activity will double your mining rate. To further increase your mining rate, invite more people to join π network. For each person joining π network through your invitation you will mine additional (0.6 to 1.2 π coins per day)
How much pi can I mine in a day?
As of October 2021, the basic mining rate is 0.39 Pi/h. Since you can mine 24 hours a day, you can easily calculate the basic amount of Pi you can mine a day. However, you can boost your earning by increasing your miner rank.
Is Pi a scam?
Pi is not a scam. It is a genuine effort by a team of Stanford graduates to give everyday people greater access to cryptocurrency - Pi’s core team is led by two Stanford PhDs and one Stanford MBA, all of whom helped build Stanford’s blockchain community.