Pi Network Review 2021 – What is Pi Network and will it be the next big thing in cryptocurrency?
Read Time:3 Minute, 4 Second
Cryptocurrency as we know it has been a source of major income for its miners, buyers and sellers, since 2021 was favourable up on it when the fall in bitcoin and the altcoins started. Pi network as at 2021 from my review overtime has started rising in terms of actives users on the platform up to 18 million users.
WHAT IS PI NETWORK?
Pi Network is a digital currency project that provides crypto mining accessibility, but the availability of currencies like Bitcoin has put them out of reach of everyday users. The Pi Network, developed by a team of Stanford graduates, enables users to mine coins using its mobile phone app, validating transactions on a distributed record.
PI NETWORK REVIEW 2021
Over 18 million active users. An active user is a person who has completed mining 3 times or more after signing up. The total number, including simple subscribers, has not been announced, but it is likely to exceed 30 million at least.
New users sign up at an average rate of about 330,000 every week.
The weekly average number of sign up was initially less than 330,000. As time goes on, the rate of sign up growth is accelerating.
Currently, the Pi Network is in the Testnet stage, and we recently launched a Test wallet where you can transfer Test Pi. This is available now to anyone who has joined the Pi Network.
As a result of measuring the payment speed of this test Pi, a surprising record of 1 to 8 seconds was measured.
The “TPS” number, which refers to the transaction processing speed per second, has not been announced exactly. However, considering the number and speed of test payments so far, it is expected that it will be the coin with the fastest payment capability with an overwhelming gap among all coins released so far.
Let’s go into a little more detail to help you understand. Those who have used the visa card must have experienced the payment speed. This card has a TPS of around 24,000. And now the coin with the highest TPS among the coins listed on the exchange is EOS, which is about 4,000 TPS. Compare the payment speed of the test Pi to the speed of the Visa card. I’ll leave the rest to your imagination. 🙂
Currently, Pi Network has released a test node that can run on PC, just like it has released a test wallet. Participation is possible by applying as a node tester on the Pi Network homepage, but there is no reward for participating.
Nevertheless, many people hoped to participate as testers, and even at this time, the number of active nodes in operation exceeds a whopping 12,000. Since there are various methods of nodes, you should not judge everything simply by the size of the number, but Bitcoin currently has about 9500 active nodes.
You can understand that testing Node means testing the security of the Pi’s blockchain. Simply put, it’s not that the Pi Network isn’t testing blockchain. Even the results are beyond Bitcoin.
These three things i talked about now are essential conditions for cryptocurrency to be widely used in real life. Coins so far have not met all of these conditions at the same time, but Pi is now challenging it, and it is also very successful.
Have you ever seen a coin that satisfies these conditions among unlisted coins? Are there any coins that can be obtained for free that have this kind of fact? If there is, bring it. I can assure you that the Pi Network will certainly have an impact on human history.