Pi Coin Facts - I
• Pi coin uses mobile based mining and those who mine pi coins are called pioneers.
• Pi uses Stellar Consesus Protocol (SCP) and energy efficient mining mechanism.
• Pi ensures a trust based network where common users are invited to participate in mining operations.
• To ensure that pioneers invites other users, your mining rate is boosted for each invite for a certain percentage.
• The overall mining rate decrease in an exponential pattern as more users join the pi network.
• You can boost your mining rate by inviting users or locking the coins that you mined currently or locking up the pi coins that's already migrated to mainnet.
You can also gain pi coins by running a pi node on your computer.
• Pi core team releases mined pi coin in batches to mainnet wallet. This process is called migration and will happen multiple migration cycles as you mine
• If the users you invited for mining has not completed the KYC, the pi coins gained from the invite boost won't migrate to main net wallet
• Pi coin ensures there is no fraudulent activity like mobile farm by verifying the identity of pioneers
• Total Supply of 100 billion and 80 billion can be mined by pioneers, according to first migration 1.5 billion coins have migrated (or successfully mined) to mainnet wallets, 600 million of migrated coins is locked for a period of upto 3 years to increase mining speed for pioneers, out of 900 million unlocked pi coins only around 100 million was deposited to exchanges as of now. This can be due to pioneers who hodl or some even locked up entire mainnet wallet balance
• Adding to the scarcity, you can mine only 2 pi coin a month per user on average. This mined coin won't reach Mainnet wallets unless next migration happens
• All mined coins of pioneers won't make it to mainnet wallet unless KYC is done
•Currently there are over 15 million KYC'd pioneers and over 10 million pioneers accounts migrated.
• With current available supply of 900 million, there is an average of 100 π coins per pioneer. #Picoins $BTC
• Pi coin uses mobile based mining and those who mine pi coins are called pioneers.
• Pi uses Stellar Consesus Protocol (SCP) and energy efficient mining mechanism.
• Pi ensures a trust based network where common users are invited to participate in mining operations.
• To ensure that pioneers invites other users, your mining rate is boosted for each invite for a certain percentage.
• The overall mining rate decrease in an exponential pattern as more users join the pi network.
• You can boost your mining rate by inviting users or locking the coins that you mined currently or locking up the pi coins that's already migrated to mainnet.
You can also gain pi coins by running a pi node on your computer.
• Pi core team releases mined pi coin in batches to mainnet wallet. This process is called migration and will happen multiple migration cycles as you mine
• If the users you invited for mining has not completed the KYC, the pi coins gained from the invite boost won't migrate to main net wallet
• Pi coin ensures there is no fraudulent activity like mobile farm by verifying the identity of pioneers
• Total Supply of 100 billion and 80 billion can be mined by pioneers, according to first migration 1.5 billion coins have migrated (or successfully mined) to mainnet wallets, 600 million of migrated coins is locked for a period of upto 3 years to increase mining speed for pioneers, out of 900 million unlocked pi coins only around 100 million was deposited to exchanges as of now. This can be due to pioneers who hodl or some even locked up entire mainnet wallet balance
• Adding to the scarcity, you can mine only 2 pi coin a month per user on average. This mined coin won't reach Mainnet wallets unless next migration happens
• All mined coins of pioneers won't make it to mainnet wallet unless KYC is done
•Currently there are over 15 million KYC'd pioneers and over 10 million pioneers accounts migrated.
• With current available supply of 900 million, there is an average of 100 π coins per pioneer. #Picoins $BTC