This app is in Beta, so I am trying it out. I figured since I was already mining Electroneum, I might as well add this too. Not too sure why Pi is claiming to be the first? But hey, you never know, could be a cool coin to hold for free.
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Pi is a new digital currency being developed by a group of Stanford PhDs. For a limited time, you can join the beta to earn Pi and help grow the network. To join Pi, follow this link
https://minepi.com/elena and use my username (elena) as your invitation code.
What is Pi Network?
Pi is a mobile-first cryptocurrency and smart contracts platform that issecured / owned and operated by everyday people. To achieve this goal, we are giving everyone convenient access to the most proven and compelling cryptocurrency application to date:mining(earning cryptocurrency rewards for helping to secure a distributed ledger). More specifically, we aim to empower more people to help validate transactions and earn cryptocurrency rewards from the convenience of their mobile phones.
Why would I want to mine cryptocurrency?
Cryptocurrencies like Bitcoin are an important evolution in money, with two key advantages over traditional (fiat) currencies.
1. Fiat currencies are subject to obstruction and seizure from governments and corporations. Cryptocurrencies are ruled by transparent and auditable code. Currencies like Bitcoin give you much more control over your money.
2. Cryptocurrencies use distributed ledgers to maintain a record of transactions. All validators that help secure the ledger earn fees from the network. Cryptocurrencies allow a wider community to capture a share of the value created.
Please visit the Introduction of our white paper for more detail.
Why would I want to mine Pi?
Despite the benefits of cryptocurrency, acquiring cryptocurrency today requires risky upfront investment. Pi allows you to earn free cryptocurrency immediately without any risk. Just tap your phone.
Please visit the Utility section of our white paper for more detail on the benefits of Pi.
What is the value of Pi?
Pi is building the world’s most inclusive peer-to-peer marketplace. Pi’s value will be backed by the time, attention, goods and services that you will be able to buy from other members of the Pi Network. Today, we are laying the infrastructure for this digital currency and the marketplace by building the Pi Trust Graph (see more on the trust graph in our White paper) and distributing the currency. During this phase of development, Pi’s value is the same as the value of Bitcoin in 2008.
How am I mining on my phone without draining my battery?
Instead of burning energy, Pi secures its ledger when members vouch for each other as trustworthy. This forms a network of interlocking “security circles” that determines who can execute transactions. This novel approach allows crypto mining on your phone by leveraging your existing social connections, with no financial cost, no battery drain and a light footprint on the planet. Read the technical section in our White paper for more accurate and detailed explanation.
