Pi Network already has diverse Dapp and ecosystem features developing in the enclosed mainnet.
The Pi Network has a uniquely engaged ecosystem of over 35 million users across hundreds of countries.
The Pi project is currently building out the enclosed mainnet system before beginning its open mainnet ecosystem. During this migration phase, the project is working to KYC as many members as possible.
As a part of the open mainnet launch, the Pi founders have found a solution to KYC a million people in a month using AI and machine learning. KYC is the crucial step for any user to begin using the closed mainnet.
Below we outline some of the main features of the Pi Network Ecosystem.
The Pi Network Enclosed Mainnet Ecosystem Features
Pi Network Open Mainnet Expected Features
The Pi Network founders, Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, joined the Crypto 101 Podcast via YouTube on Nov. 13 to answer questions and share the vision of Pi.
Pi Network is a mobile blockchain mining project on a mission to give everyone access to the cryptocurrency revolution. The project was founded by a team of Stanford University Ph.D. candidates who designed a mobile-friendly blockchain mining algorithm.
Pi Network has evolved over the years and has organized a hackathon, built a couple of working Pi blockchain apps, and is now in the final stages of transition to public mainnet.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram
Pi Network clarifies unauthorized token listings, including details of its enclosed mainnet.
Pi Network has objected to all unauthorized token listings on certain exchanges. The world’s largest blockchain-based community with over 35 million users clarifies that Pi Network is not associated with any exchange.
According to an exclusive statement delivered to BSC News, the Pi Core team disclosed that Pi Network has no involvement with these $PI token listings on exchanges. The team added that the PI tokens traded are fake.
Following reports of unauthorized token listings last week, Pi Network published a public announcement via Twitter, advising users to disregard them. Further, the network requested that the exchanges remove them.
Pi has not been listed on any exchange, and Pi Network has not been involved with any purported listings. You could sustain substantial loss by participating in unauthorized listings. Read more on our website: https://t.co/rbntZ7DROj pic.twitter.com/LJztPOH35c
Pi Network is still in its enclosed mainnet, a build-up to the Open Mainnet launch. Throughout the enclosed mainnet period, the Pi mainnet is live but has a firewall that prevents unwanted external activity. This firewall is a barrier, ensuring no connectivity between Pi and other exchanges or blockchains.
Pi’s enclosed mainnet design means that $PI listing on any exchange is impossible. The listing violates the network’s policies and is a false native Pi token, representing some form of IOU or other derivatives.
Pi Network is in a crucial stage in its enclosed mainnet development, focusing on two key priorities: mass KYC/mainnet migration and ecosystem building. The firewall will remain active until Pi launches the Open Mainnet after completing the crucial steps in its enclosed mainnet.
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a complete Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Website | Twitter | LinkedIn | Facebook | Instagram |
Check out these five ways to invest and five other ways to pay in bitcoin in 2022.
The ongoing bear run in crypto is making many people reconsider their Bitcoin-buying decisions. But as any seasoned investor will tell you, the utility of Bitcoin trumps these short-term ebbs and flows. The price of Bitcoin at the moment is just above $16000, making it the best time to buy cheap and hold.
Investing in Bitcoin is only one side of the coin – what about paying in BTC? In 2023, you can spend your Bitcoin in many places to buy products and services or to make donations.
Let’s learn more about the ten ways you can invest and pay in Bitcoin in 2023.
Given the present crypto market conditions, it’s natural to feel apprehensive about investing in Bitcoin in 2023. The situation has become worse in the wake of the massive FTX scandal.
However, cryptocurrencies and the underlying blockchain technology have only seen wider adoption in 2023. Global spending on blockchain technology is projected to increase to USD 19 billion in 2024 from USD 6.6 billion in 2021. Investing in Bitcoin should continue to be one of your financial priorities in 2023.
We have divided the guide into two sections. In the first section, you’ll learn about 5 ways to invest in Bitcoin in 2023. The second section will talk about 5 places where you can pay in Bitcoin.
Let’s start.
Here are the five best ways to invest in BTC in 2023:
1. Crypto exchanges
Cryptocurrency exchanges are the most common way of buying Bitcoin. Most of us are already familiar with the leading cryptocurrency exchanges – Binance, Crypto.com, Coinbase, and so on.
Crypto exchanges are essentially large marketplaces for cryptocurrencies. When you want to buy say 0.5 BTC, the cryptocurrency exchanges provide it without needing you to find someone to sell. The ease of buying cryptocurrencies through exchanges makes them the most convenient solution for retail crypto investors.
There are multiple reasons to choose cryptocurrency exchanges for buying Bitcoin. At the same time, you should be aware of how much commission they are charging. Keep reading to know about other ways to buy Bitcoin.
2. Fintech apps
Fintech apps are different from cryptocurrency exchanges in the sense that they don’t deal exclusively with cryptocurrencies. For example, you can buy Bitcoin with a credit card on MoonPay instead of signing up for major crypto exchanges like Binance. You can also buy Bitcoin from popular apps like PayPal and Venmo.
There are different types of fintech apps dealing with crypto, and we can’t neatly categorize them into one segment. Some platforms facilitate payment through cryptocurrencies, while some would let you buy and hold Bitcoin within the platform. It’s easy to get confused with so many fintech and finance companies providing the option to buy Bitcoin to retail users.
If you feel fintech apps suit you better than crypto exchanges, go for them.
3. Stockbrokers
Some traditional stockbrokers like Robinhood and eToro also allow their users to buy Bitcoin straight from their platforms. Crypto marketplaces like Binance are different from stockbrokers like Robinhood.
Stockbrokers are more traditional financial institutions, while crypto marketplaces are platforms that only deal with cryptocurrencies.
To buy Bitcoin from a traditional stockbroker, you need to open an account with them and deposit money into your account. Once the money is in your account, you will be able to buy Bitcoin directly from the stockbroker.
The process is similar to buying any other asset from a traditional stockbroker. Some crypto investors prefer stockbrokers to crypto exchanges for security reasons, but stockbrokers may sometimes charge more than leading crypto exchanges.
4. Invest in companies with high Bitcoin exposure
When you invest in companies like MicroStrategy Inc, Marathon Digital Holdings, or even Tesla, you indirectly invest in Bitcoin. The concept is similar to investing in gold mining companies instead of physical gold.
How does it work? When the price of Bitcoin goes up, we expect the share prices of these companies to go up as well. On the contrary, you are somewhat protected from any rapid fall in Bitcoin price. This risk-mitigation factor makes investing in companies with Bitcoin holding a lucrative option for some people, especially if investing in crypto is a source of passive income for them.
Here are the top ten public companies with the highest BTC holdings:
5. Peer-to-peer transactions
Peer-to-peer BTC purchases are the most straightforward way of buying Bitcoin in 2023. When you want to buy Bitcoin and know someone who wants to sell it, you can directly buy it from them. The purchased BTC will come to your wallet, and you have to pay the seller manually.
While peer-to-peer transactions are fast and straightforward, they’re typically unsafe. Imagine paying for BTC to an online stranger, and that person disappears with your money. Unfortunately, fraud in peer-to-peer Bitcoin transactions is widespread, and you should stay away from this method unless you personally know the seller.
Engaging in peer-to-peer BTC buying and selling is risky, and you should always proceed with caution.
Here are five different ways to spend your BTC in 2023:
1. Online casinos
If you’re a regular user of online casinos, you will find endless ways to spend your Bitcoin in 2023. Online casinos have become very popular over the last several years, and many leading platforms allow their users to participate in online gambling with cryptocurrencies. Payouts are also generally faster when you use Bitcoin or other cryptocurrencies in online casinos.
While online casinos aren’t for everyone, they are a good avenue to spend your Bitcoin. Depending on the platform you choose, there can be exciting rewards and cashback for using Bitcoin or any other cryptocurrency.
2. Buy gift cards
You can buy electronic gift cards with Bitcoin as well. Once you buy a gift card and give it to someone else, they can use the gift card amount to buy whatever they want (from partner eCommerce stores and websites). Here’s a list of platforms from where you can buy gift cards with Bitcoin:
You can buy anything from Amazon to Zalando gift cards with Bitcoin. It’s a great way to spend your Bitcoin considering the fact that the recipient of the gift card can buy anything with it, not just crypto-related products. So if you’re running out of gift ideas this holiday season, you know where your Bitcoin can be put to good use.
3. Donate to Wikipedia
Wikipedia recently stated that donors can now use Bitcoin to donate to the Wikimedia Foundation. According to the official note, these donations will help the foundation continue to provide free knowledge to everyone.
Established in 2003, the Wikimedia Foundation is a nonprofit organization that supports Wikipedia and its sister projects. The organization relies on donations to operate. Bitcoin donations will help the foundation continue its work to provide free knowledge to everyone.
The Wikimedia Foundation has partnered with Coinbase to process Bitcoin donations. Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, Ethereum, and Litecoin. If donations are your thing, you’ll have no trouble spending your Bitcoin for a cause.
4, Buy from Overstock
Overstock is a retail website offering a wide variety of high-quality merchandise, including furniture, rugs, bedding, electronics, clothing, and more. It has a reputation for offering incredible value for the money, primarily because they sell products that are considered dead stock.
Overstock is also known as one of the earliest adopters of Bitcoin. It allowed users to transact in Bitcoin even in 2014. In 2023, it continues to be one of the most popular platforms to spend Bitcoin.
Currently, Overstock accepts BTC payments through Coinbase. It’s one of the best platforms to buy everyday products using Bitcoin. The next time someone tells you that you can’t buy anything real with Bitcoin, tell them about Overstock.
5. Peer-to-peer payments
Peer-to-peer Bitcoin payments refer to one individual directly selling their Bitcoin to another individual. It works just like peer-to-peer Bitcoin purchases. You find someone who wants to buy Bitcoin and send your BTC directly to their wallet.
The best peer-to-peer Bitcoin payment platforms include LocalBitcoins, Paxful, and Bisq. Each of these platforms provides unique elements and services that make them ideal for certain types of buyers, sellers, and traders.
Peer-to-peer transactions always have an element of risk. If you are engaging in peer-to-peer BTC payment, make sure the person you are selling it to is legitimate and won’t disappear with your Bitcoin. Once the risk is mitigated, this is one of the simplest ways of spending Bitcoin in 2023.
There’s a lot to look out for if you’re planning to invest in Bitcoin in 2023.
We hope this guide helps you get started in your 2023 Bitcoin journey.
Staking provides many benefits and actively affirms that Web3 deserves a secure, scalable, decentralized future.
With mainnet launch imminent, the Core DAO team has published the importance of staking as a clear way of supporting the protocol’s aspirations in creating the first chain powered by the Satoshi Plus ecosystem.
Core DAO uncovered the importance of staking in an official Medium publication on January 5th. The blog explained the staking mechanism and the synthesis between Proof of Work (PoW) and Proof of Stake (PoS). Furthermore, Core DAO disclosed the benefits that stakers stand to gain from the Satoshi plus consensus.
Staking on Core DAO has many benefits for the community. While mainnet is fast approaching, it is the best way to promote Core DAO’s long-term success to ensure a scalable, secure, and decentralized Web3 consensus.
Read the Core DAO Medium publication to learn more about the benefits and importance of staking to the network’s development.
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the history of the crypto ecosystem paired with an even greater excitement for Core’s role in its future.
Website | Docs | Twitter | Discord
GMX users have a chance to work with BNB Chain and receive support for deployment on the most active blockchain around.
A BNB Chain supporter submitted a proposal to the GMX governance platform to deploy GMX on BNB Chain.
The proposal, submitted by the account AdamBNB on January 5, goes through the technical background of BNB Chain as it pertains to supporting GMX and gives an extended rationale explanation supporting the decision. AdamBNB cites familiar characteristics like BNB Chain’s massive user base and the ability to synthesize on products like decentralized derivatives and perpetuals.
The proposal explains how it foresees several ways for the projects to link up, stating that “possible synergies or areas of collaboration are quite wide.” Along with technical and expert collaboration, AdamBNB sees promotional exposure possible and plus much more.
Alvin Kan, BNB Chain Growth Operations Director, threw his support for the matter on Twitter, saying it appears like a “win-win.”
This will be a great win-win situation – proposal to deploy GMX on BNB Chain.https://t.co/WU0rC0FHJc
So far, the responses to the proposal have been mixed. Several accounts have cited recent exploits on BNB Chain as a red flag for security concerns, and others have questioned the purported decentralization of BNB Chain compared to Arbitrum and Avalanche.
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Website | Twitter | Discord | Telegram | GitHub |
GMX is a decentralized permissionless exchange launched in September 2021 on Arbitrum, a layer-2 solution for the Ethereum blockchain. It was deployed in January 2022 on Avalanche, an EVM-compatible blockchain capable of high speed in terms of transactions per second.
Website | Twitter | Medium | Telegram | Discord |
The move helps to increase the knowledge and standard of compliance team members at Binance.
Binance is confirmed to be joining the Association of Certified Sanctions Specialists (ACSS), bringing together the world’s largest crypto exchange with the consortium of global compliance professionals.
#Binance joins the Association of Certified Sanctions Specialists (ACSS).
As the first crypto exchange to join the association, we aim to leverage ACSS training materials, databases, and networks to further compliance standards within the crypto industry.https://t.co/uEOw147gke
Binance will move to an active role in the association, and its employees will benefit from the deep wealth of resources offered by the association, according to the January 6 press release.
Sanctions team members at Binance will have mandated training sessions and must achieve certifications to meet the standards of the association. Team members will also gain access to materials to help Binance improve the team’s knowledge across the compliance industry.
Binance is the first crypto organization to join the ACSS, a group that began in 2018 to help educate professionals on topics like money laundering reporting and compliance operations.
The Association of Certified Sanctions Specialists (ACSS) is a professional membership body for sanctions professionals worldwide. It was formed to advance sanctions compliance by supporting the professional development of the individuals who lead those efforts. Financial institutions, international corporations, law firms, consulting companies, government and other trades and businesses depend on the ACSS to assist them with their sanctions compliance needs. "Certified Sanctions Specialist" or CSS is a mark of distinction that shows individuals have had full sanctions compliance training.
Website | Twitter | LinkedIn | YouTube |
Binance positions itself as the world’s leading blockchain ecosystem and crypto-asset infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. The Binance platform aims to increase the freedom of money for users and features a comprehensive portfolio of crypto-asset products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization, and infrastructure solutions.
Website | Twitter | Discord | Telegram |
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
