What is Pi Network?

Pi Network is a new Cryptocurrency and is mined only on phones, but this is a new type of digital mining that does not consume CPU resources like other mining apps. Other mining apps like ETN it will use CPU to decode the algorithm (ETN uses cryptonight algorithm). As for PI Network, when mining the phone, it doesn’t feel hot. You can also turn off the app, turn off the network, you can also dig just after every 24 hours on the app and click on the Power sign (that thunder sign) to continue digging.

Pi Network was developed by Stanford PhDs and faculty to spread cryptocurrency to more people with a simple app that anyone can use. PI’s core team includes:

• Dr. Nicolas Kokkalis : Head of Technology
• Dr. Chengdiao Fan : Head of Product
• Vincent McPhillip : Community Head You can use google to check the information of this team. PI Official Website : https://minepi.com/

Pi Network differs from some other cryptocurrencies in that it has been created from scratch and pre-mined. When you start mining every day on the Pi network application, you are simply distributed a set amount of coins per hour. Since the coins are pre-created, your phone doesn’t do any heavy computation and the power impact is minimal, you can completely turn off the App, turn off wifi after activating each day.

Note:

Pi Network is currently at BETA. The project is still in progress which means there will be bugs and some project details are still changing. While many crypto projects start with pure theory, Pi Network seeks to balance the theory with design and people centricity (or experiment with real people to best meet their needs. ). The project values ​​your patience and welcomes your input as we work together to develop products that best meet community needs. Pi Network DOESN’T give you free money. This is a long term project whose success depends on the mutual contributions of its members. Pi helps people capture economic value, which is now held by banks, tech giants (e.g. Facebook, Amazon) and other intermediaries. Pi depends on the general contributions of the members. Hence Pi NetWork is not suitable for those who want to make money quickly.

Is the Pi network scam?

With the above research, the answer is definitely not, Because PI does not sell ICO, ITO, IEO or something like that, of course, you don’t lose money. But there is no guarantee that the project will be successful, however the Pi language team will do its best to make dreams come true, while maintaining high standards of transparency.

Pi Network does not require customers to top up or invest anything, they are just trying to expand the number of users by giving their coins for free on the phone. Many of the coins in the past also built communities by giving and rewarding for free. Even Bitcoin was given away for free when completing tasks on forums, websites …

The goal of the Pi Network project is for mass adoption and targeting a large community. And because most people often hear about Bitcoin, there is a comparison between the weaknesses of Bitcoin and the advantages of the Pi, which inadvertently lead to a portion of the crypto community judging it as a scam. bluff. Because they lost A LOT of CASH into crypto projects in the 2017-2019 period, which were inherently bankrupt and often compared themselves as Bitcoin innovations. Mass adoption has to go hand in hand with widespread distribution. Through the app, Pi Network is distributing prefabricated tokens to its users. This term is roughly called the digging of Pi to make it easier for everyone to understand. Building a blockchain from its infancy is no easy task, and most projects end up being hacked because of weak network security capabilities. Through SCP (roughly understood as the secure circular consensus mechanism that the Pi community is connecting to), network security is greatly improved. However, since the Stellar Consensus Protocol is so confusing, the Pi just emphasizes promoting the building of a secure circle between users. Pi also claims to be the first cryptocurrency that you can mine on your phone. But actually, Monero is the first coin to have a Minergate application.

Guide Pi Network registration & exploitation

Step 1: Download the Pi Network application to your phone

Access to download the app: https://minepi.com/ You go straight to the Appstore for Iphone and CHPlay for Android and find the app called minepi offline.

Step 2: Sign up for an account

After downloading you register for an account. In this step you have the option to register for an account with facebook or phone, depending on you. I encourage you to register by phone so that it can be easily verified later.

You select Vietnam and enter the phone number then click Go.

The next step is to enter a password and confirm it . Enter your name’s information. Note Username (this is for me to log into the app, don’t forget this). Then you click Submit to move through the last step.

In this last step, enter the introduction code is thaojnd (this is your referral code) or you can enter someone else’s code. But enter my code, thank you very much. Invitation code: thaojnd

• After registration is complete, there will be the interface as above. You click the Lightning sign icon to exploit.
• Note that every 24 hours you return to the app and press offline

How to verify your Pi network account.

At the main screen, click on the image you choose Profile then the screen will You choose VERIFY to proceed with your account verification. There will now be 2 options for confirmation. The first is to receive the confirmation code (US and Canada only). The second is to send messages to Pi Network. You have to choose option 2 and press START. Then go to Open SMS to have Pi Network compose a 4-digit message. Note that the PI will generate four random digits and you do not need to edit anything more just press send. Since it is sending messages abroad, it will cost you to send the message (about 2,000 VND). After successful verification you will receive a notification message as follows: “Your phone number is now successfully verified!”

Pi Network has officially enabled KYC for users

Official announcement from PiCoreTeam : “We will announce 100,000 free KYC (IDENTIFICATION) positions that will open to Pioneers over the next few months. Every day, starting today, our system will automatically select KYC-Earned Pioneers based on their past and future potential contributions to the Pi, including Nodes, Platforms, Community and interaction level, etc. ”

So what is KYC (WHAT IS IDENTIFICATION)?

KYC – Know Your Customer is to verify the user’s identity. IS TO DETERMINE WHO IS AN ACCOUNT HOLDER. Identification documents used to verify identity include the following documents: Passport (Passport), ID card, identity card, driver’s license. When Pi requests a new job, there will be the following message. This is a legal process required by law, in compliance with AML global anti-money laundering legislation. Based on the database that the KYC identity verification process collects, the authorities can investigate or track users’ misconduct, if any. When does KYC start?

In the second phase of Pi starting August 29, 2020, 100,000 miners will be selected to complete the KYC procedures, for those who have not been selected in this batch, please wait patiently for your turn!

Without KYC, is there a problem?

You will lose your account when you pass the OFFICIAL RUN (Mainet) which is Stage 3. All the Pi, accounts that are exploited will be canceled.

Why must KYC?

If not KYC, Cheater / BOTCHEAT creates 1000 accounts to steal Pi? So Project Pi just went into failure. All users are required to KYC to go through stage 3. KYC is just a very simple matter, don’t worry. At present, when completing KYC procedures through APP Yoti, Yoti only accepts Passport and Driver’s License (Plastic Card), but later on, it is possible to KYC with many other documents such as ID card, identity card, …