PI

A Look at Pi Network’s Background

by BSC News

January 21, 2023

chain

Pi Network was initiated following the team’s plans to give users blockchain accessibility and wide distribution of cryptocurrency.

The Origin of Pi Network

Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, and Vincent McPhillip discovered that blockchains were inaccessible to mainstream audiences and that Decentralized Application (dApp) developers found it hard to reach users.

The group of three discovered both flaws during a class in 2018 where Kokkalis taught about “dApps on Blockchain.” Following the discovery, McPhillip shared his experience building the Stanford Blockchain Collective, adding that people do not see blockchain’s relevance.

Kokkalis and the team members began researching how to solve the problem and make blockchain accessible to mainstream users. While making blockchain accessible, Fan realized that building a crypto asset widely distributed across users would be key to the blockchain’s success.

To offer users an accessible blockchain, mainstream dApp access, and a widely distributed cryptocurrency, the team came together with the idea of Pi Network. The blockchain mining protocol, offering users access to the widely distributed Pi native token, was launched in 2019 on Pi day.

Since 2019, the Pi ecosystem has grown and attracted over 30 million users in the blockchain space. With open mainnet imminent and the ongoing hackathon showcasing various accessible dApps, the team is on the right path with its plans in the crypto space.

What is Pi Network:

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 not only economic transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.

Where to find Pi Network:

Website | Twitter | LinkedIn | Facebook | Instagram |

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