Pi Network is a recent cryptocurrency project making waves—but what exactly is it?
Numerous new cryptocurrencies are set to launch in 2025 or gain further traction. While Pi Network began in 2019, it capitalized on the attention cryptocurrency garnered in early 2021. Here’s a brief overview of Pi Network.
What Is Pi Network?
Pi Network is a project developed by Stanford graduates, enabling users to "mine" its currency on their phones. As outlined in the whitepaper, Pi Network chose this method to lower barriers to cryptocurrency mining.
To achieve this, it uses the Stellar Consensus Protocol (SCP) and the Federated Byzantine Agreement (FBA) algorithm, where nodes interact to reach consensus on the next block.
However, as explained on Pi Network’s Reddit, this isn’t "mining" in the traditional sense. Google and Apple prohibit mining apps in their stores, so Pi describes the process differently:
The phone app’s role is to generate Pi vouchers, redeemable for Pi on the mainnet after passing KYC.
Consequently, Pi Network states in its FAQ: "Pi doesn’t affect phone performance, drain batteries, or use network data."
Users must log in daily and tap the Lightning button to start mining—a step Pi uses to verify they’re not bots.
Pi Coin Price
Though praised for accessibility, skepticism surrounds Pi Network and its currency, Pi Coin.
Pi Coin is currently in pre-release mode, meaning it holds no real value and isn’t tradable on exchanges as of 2025. The total Pi supply is 99,997,179,484, per the testnet dashboard.
Pi’s FAQ vaguely addresses pricing questions:
Today, Pi’s value is approximately $0, similar to Bitcoin in 2008.
This implies Bitcoin had zero value at launch—which isn’t accurate. Bitcoin’s price was near zero but not valueless. Pi Coin is worth $0 because it hasn’t launched, not because its value is negligible.
Thus, predicting Pi Coin’s future value or release price is impossible—assuming it ever launches.
Pi Network Phase 3 Release Date
The critical period for Pi Network is Phase 3, where the Mainnet blockchain launches. This phase allows Pi Coin to connect to exchanges, enabling trading.
The Pi Network mainnet launched on December 29, marking Phase 3. However, there’s no indication Pi Coin is nearing full release. Unsurprisingly, the Pi community grows increasingly frustrated by the lack of updates.
👉 Learn more about Pi Network’s latest developments
FAQs
1. Can I trade Pi Coin now?
No. Pi Coin remains in pre-release and lacks exchange support.
2. How does Pi Network mining work?
Users tap a button daily to verify activity, earning Pi vouchers redeemable post-mainnet launch.
3. Is Pi Coin worth anything?
Currently, Pi Coin holds no monetary value. Its future worth depends on post-launch adoption.
4. When will Pi Network Phase 3 conclude?
No official timeline exists. The mainnet launched, but full functionality is pending.
5. Why is Pi Network controversial?
Critics question its mining mechanism and the delayed, vague roadmap.
6. How many Pi Coins exist?
The total supply is ~100 billion, per the testnet dashboard.
👉 Explore Pi Network’s whitepaper here
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