New cryptocurrencies and tokens are being released always, and the cryptocurrency industry is accelerating faster than ever imagined. Most times, it is quite complicated to determine the future value of these newly introduced currencies. Also, it is difficult to tell whether the currency is a good project, will yield profits, etc. Well, the Pi network is not exceptional.
Pi Network is a cryptocurrency project that was invented in 2019. Recently, it is becoming a famous crypto project and attracting lots of attention from different individuals and crypto enthusiasts. Pi network aims to be the most inclusive cryptocurrency project in the world with its distinctive mining strategy and user-friendly promise.
As you proceed further in reading this content, we will be educating you on what the Pi network is all about, the difference between the Pi network coin and the Pi network Defi token, how it works, and the predictions from the present year to 2025.
What Is Pi Network?
The pi network was invented by two researchers, Nicolas Kokkalis and Chengdiao Fan. It is a project programmed to be a revolutionary decentralized network in which its currency is mined on smart Android, and IOS phones rather than using GPUs. Comparing Pi with Bitcoin which needed intensive energy machines, the Pi network can be operated efficiently and easily, and also it is energy efficient. Although, the Pi network is still in its early stage of development.
Difference Between Pi Network Coin And Pi Network Defi Token
Many people complicate what Pi network coin and Pi network Defi Token are all about. To clear some individuals from their state of confusion, below we will explain how both are two different projects using their aims.
Pi network coin is a newly launched asset based on blockchain technology. In its initial stage of invention, it attracted a lot of users. it uses a consensus protocol known as Stellar which is a special algorithm making it to be different from other cryptocurrencies. Stellar protocol enables users to gain rewards by participating in the network pool.
On the other hand, the Pi network Defi token permits users to borrow and lend money in any part of the world freely, enabling capital flow. It is listed on pancakeSwap, a decentralized exchange. It was built and operates on the Binance Smart Chain ecosystem (BSC).
How Does Pi Network Works?
The network arrangement of a network, of Pi is managed by the Stellar Consensus Protocol algorithm which is the delicate part of the Pi network coin. The Steller algorithm is distributed algorithm that runs on the network at each node. Irrespective of the number of networks or sizes, the algorithm was programmed to be arranged in a finite number of steps. With this, the Pi network is secured, energy efficient, and decentralized.
Participating in the Pi network consensus process, users gain reward by tapping a button. The Pi app works as a crypto wallet where all the mined tokens go into. The pi network is still in its early stage and any individual can participate in the mining process before it got to its open network.
Predictions Of Pi Network (2023, 2024, and 2025)
- 2023 Prediction:
The pi network is still in the developing stage. Even while it has millions of users, it has not been listed on major trading exchanges. By the end of 2023, it is expected that the Pi network would have accomplished some important achievements such as listing on trading exchanges and launching of their mainnet.
The pi network is a viable cryptocurrency, the users are expected to rise substantially due to its potential. Furthermore, the project developers and teams should add more updates to enhance the platform, reinforcing the technology and security.
- 2024 Prediction:
In 2024, within the crypto ecosystem, the pi network is predicted to experience an increase in price and adoption. Through the “proof-of-work” consensus mechanism that the Pi network adopted, it uses, the user’s mobile device rather than energy-intensive mining rigs which potentially large number of individuals.
By 2024, the Pi network should partner with institutions to enable users to use their mined Pi network coin to purchase various products and as well to pay for services being offered. The partnerships can increase Pi network worth and its utility, also positioning it as an apex project in the crypto payment system.
- 2025 Prediction:
Considering the promising potential of the Pi network, coming 2025 will be a great year for the project. If the growth and advancements in the Pi network are maintained, it will amass a sizable userbase around the globe and will become popular, and well-secured. Additionally, the Pi network decentralization feature will advance further, enabling its community members to play an active role in decision-making.
As a result of trends, market demand, adoption, and technological advancements the value of the Pi network might experience some fluctuation during this period. The worth of the Pi network will increase dramatically if it has a strong fundamental. Well, other factors can influence the value of the Pi network even if the fundamental is strong due to the market volatility.
Predicting the future of cryptocurrency most at times is very difficult and the Pi network is not left out in this case. Nevertheless, the projects show promise for continuous growth and adoption based on their present direction, community supports, and development advancement.
In the coming year 2023, 2024, and 2025 could highly affect the value of the Pi network. For the Pi network to have a significant habitat in the cryptocurrency ecosystem, it must undergo some series of developments such as; partnership with other institutions, launching of its mainnet, and an increase in the number of adoptions. However, there are many factors such as; volatility, market sentiments, technological advancements, etc affecting the value of cryptocurrencies, therefore the predictions discussed above maybe alter due to these factors.