What is Pi Network?

Pi Network is a cryptocurrency project founded in 2019 by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, both with doctoral degrees from Stanford University. The project aims to enable digital currency mining on mobile devices, making it accessible to a broader audience. It utilizes the Stellar Consensus Protocol and a Federated Byzantine Agreement for its network operations. Users engage in roles such as pioneers, contributors, ambassadors, or nodes, promoting decentralization and community involvement.

The Pi Network ecosystem includes a native wallet, a dedicated browser, and a platform for decentralized applications, with the PI token used for peer-to-peer exchanges and transaction fees. Additionally, the tokens can be employed for purchasing goods in an internal marketplace and staking options. The project's governance model encourages participation and community growth without external institutional investments.