In recent years, the financial landscape has been transformed by the emergence of cryptocurrencies, digital or virtual currencies that leverage cryptographic methods to ensure secure transactions and regulate the creation of new units. Unlike traditional fiat currencies issued by governments and managed through centralized banking systems, cryptocurrencies operate on decentralized networks utilizing blockchain technology.
Understanding Blockchain Technology
At the heart of cryptocurrencies lies blockchain technology, a distributed ledger system that records all transactions across a network of computers in a secure and transparent manner. Each block contains a list of transactions, and once a block is filled, it is cryptographically linked to the previous one, creating an immutable chain. This structure ensures that once data is recorded, it cannot be altered retroactively without the consensus of the network, providing a high level of security and trust (Basra, 2024; NIST, 2018).
Cryptocurrencies in Daily Transactions
While Bitcoin remains the most well-known cryptocurrency, a variety of digital currencies have been developed to facilitate daily transactions. For instance, Ethereum offers smart contract functionality, enabling complex agreements to be executed automatically when predefined conditions are met. Other cryptocurrencies, such as Litecoin and Ripple, have been designed to provide faster transaction times and lower fees, making them more suitable for everyday use. These digital currencies are increasingly being accepted by merchants and service providers worldwide, allowing consumers to purchase goods and services directly with cryptocurrency (Chase et al., 2018).
Introducing Pi Network
Launched in 2019 by a team of Stanford graduates, Pi Network is a novel cryptocurrency project that aims to make digital currency mining accessible to the general public. Traditional cryptocurrency mining often requires substantial computational power and energy consumption, posing barriers to entry for many individuals. In contrast, Pi Network allows users to mine its native currency, Pi, directly from their mobile devices without significant battery drain or resource usage (Raja et al., 2023; SAMIN et al., 2022).
How to Mine Pi ?
To start mining Pi, follow these steps:
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Download the Pi Network App: Available on both iOS and Android platforms, the app is free to download.
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Create an Account: Sign up using your phone number or Facebook account.
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Enter an Invitation Code: Use the code “doasyoucan” to join the network and start mining.
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Start Mining: Open the app daily and tap the mining button to earn Pi coins.
By using the invitation code “doasyoucan,” you become part of a growing community, enhancing your mining rate and contributing to the network’s security. Pi Network utilizes the Stellar Consensus Protocol, which allows for secure and efficient transaction validation without the need for energy-intensive mining equipment (Raja et al., 2023). You can learn more about the list of KYB-Verified Businesses.
Regarding the usage of Pi in daily life transactions, there are some examples of businesses using the Pi Network coin. For example, on February 27, 2025, Zito Realty LLC, a Florida-based real estate company led by American film producer and actor James J. Zito, announced that it accepts Pi coins for real estate transactions. This demonstrates the growing financial potential of Pi coins, with more developments expected in the future. With Pi Network mobile mining, there is no doubt in saying that you can mine the future, anytime, and anywhere.
Disclaimer:
The content of this blog post is provided for informational and educational purposes only and does not constitute financial, investment, or legal advice. These opinions should not be relied upon for making any financial decisions. We strongly recommend that you conduct your own research and consult with a qualified professional before engaging in any cryptocurrency mining or investment activities. Neither the publisher nor the author accepts any liability for any losses or damages incurred as a result of using the information provided.
References:
National Institute of Standards and Technology. (2018). Blockchain Technology Overview. NIST IR 8202. https://nvlpubs.nist.gov/nistpubs/ir/2018/nist.ir.8202.pdf
Raja et al. (2023). Pi Network: A Revolution. Science Journal of Business and Technology, 1(1), 1-5. https://sjmbt.com/index.php/j/article/view/3
Basra JQ (2024). Cryptocurrency and Blockchain: A Comprehensive Overview. Global Media Journal, 22:71. https://www.globalmediajournal.com/open-access/cryptocurrency-and-blockchain-a-comprehensive-overview.pdf
Chase et al. (2018). Analysis of the XRP Ledger Consensus Protocol. Cornell University. https://arxiv.org/pdf/1802.07242
SAMIN et al. (2022). A Brief Analysis on Predicted Future Value of Pi Network on the Basis of Bitcoin. International Engineering and Emerging Technologies Journal, 1(1), 27-32. https://globalmainstreamjournal.com/index.php/IEET/article/download/27/16
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