Breakthrough technology developed by Stanford PhDs and grads powers new social cryptocurrency that is easy, fun and eco-friendly to mine
PALO ALTO, Calif., Sept. 20, 2019 /PRNewswire-PRWeb/ -- In a major step forward for the cryptocurrency industry, Pi, a new social cryptocurrency secured and backed by everyday people, announces incredible growth since launch.
Launched in beta on Pi Day (3/14/2019), Pi has rapidly grown to more than 500K installs, with active members spanning 180 countries. Conceived by Stanford grads, Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, Vincent McPhillip, and Aurelien Schiltz the breakneck speed of Pi's adoption across a diverse, global user-base reveals the expanding interest in cryptocurrency and public desire to participate in a more inclusive digital economy.
Despite bitcoin's promise to democratize finance, it remains largely inaccessible because bitcoin mining—the most direct way to earn—is expensive, requires extensive technical knowledge, and consumes so much energy that mining operations are now a major contributor to global CO2 emissions.
By contrast, Pi's breakthrough technology harnesses the power of members' social networks to allow everyday people to contribute to the security of the currency. When Pi members vouch for each other as trustworthy, together they form a network of interlocking "security circles" that determines who can validate transactions on Pi's ledger. This allows members to earn Pi from their mobile phones with low financial cost, limited battery drain, and a light footprint on the planet.
"Too many people are being left behind by the digital economy," said McPhillip, who is Head of Community at Pi Network. "By pooling their time and talent around a common currency, Pi's members are redefining the way 'value' is created and shared. Our dramatic growth proves there is a dynamic global community of people searching for new ways of establishing and controlling their worth."
To join and start earning Pi, users need only download the free app, currently available on Apple or Android: https://minepi.com/ and use the invitation code "lnszk". New members with questions can read the app's FAQ or ask their inviter via the application's newly launched Earning Team chats.
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Pi is a new social cryptocurrency secured and backed by everyday people. Developed by a team of Stanford PhDs and graduates, Pi can be easily mined on mobile phones with low financial cost, limited battery drain, and a light footprint on the planet. Pi's social cryptocurrency is laying the foundation for an inclusive, online ecosystem where everyday people can capture their fair share of the digital pie.