FAQ? (FAQ)

#1. Is Pi Nework still experimenting?

Pi Network is still in the BETA phase. This means that there are still errors and some details may be changed during the finishing process.While many crypto projects start from pure theory, Pi Network has always sought to balance theory with design, being human-centered (or experimenting with real people to best meet their needs).As we work together to develop products that best meet the needs of the community, the project always appreciates your patience and contribution.

#2. What is Pi?

Pi is a new cryptocurrency that ordinary people can mine daily through their phones.Cryptocurrencies are new forms of digital money that are maintained and secured by a community, rather than by a government or bank.While most cryptocurrencies like Bitcoin are difficult to use and spend on a daily basis, Pi has realized the power of cryptocurrencies with availability at your fingertips.

#3. Pi is not free money?

This is a long-term project whose success depends on the collective contribution of its members.Pi Network is designed to help people get more economic value, which is being appropriated by banks, tech giants (e.g., Facebook, Amazon) and other intermediaries.If you're looking for a way to make money fast, Pi Network can't help you.

#4. Is Pi Network a real project or a scam scam?

Pi Network is not a scam.This is a dedicated project and a real effort by a group of Stanford University graduates led by two Stanford PhDs.They are all involved in building Stanford's Blockchain community and want to develop a community digital currency.Pi Core Team does not guarantee that the project will be successful. But they promise to work the hardest to make our shared dream a reality, while maintaining the highest standards of integrity.

#5. Is it possible to mine from multiple devices?

No, you cannot mine Pi from multiple devices.An account, a person, a device that is our strict rule.To ensure that it is not exploited by fake accounts, Pi Network has adopted multidimensional techniques. As:

Using Google's Recaptcha v3

This technology is completely invisible to most users, because they are real people, but with Bots it is impossible to overcome this barrier.At the same time, we are also developing a machine learning algorithm based on the mining behavior of real users to predict bots.

Consensus algorithm requirements

Fake accounts won't have enough real people through the security circle.If so, fake accounts will only be allowed to join the few VTBMs. This anomaly is easy to detect with Pi Network's computer algorithms.

KYC identity verification required

When Pi entered the 3rd stage Mainnet, only authenticated accounts belonging to truly distinct individuals were honored.In other words, even if the Bot account passes other methods, the user authentication process will continue to remove them.Simply because the bot owner cannot prove the bot is a real person with identification.Pi Network is working hard to build and negotiate a bulk KYC process at the cheapest cost or for free.

#6. Why do the members who join first have a higher capacity?

Pi Network aims to become the most widely used and distributed cryptocurrency in the world. To that goal, Pi encourages members to contribute by building a team that attracts more members. new.Specially, the basic mining capacity at 3.14 pi/hour is for the earliest members in the early stages of the project. Later this capacity is halved when the number of members increases 10 times. . Maybe it will decrease to 0 when the system reaches a certain number for example 100 million people. Also, Pi Network praises increasing capacity for contributions to attract new members so that you can improve your pi. his accumulation.

#7. What is the value of Pi?

Currently, Pi is worth approximately $0, similar to Bitcoin in 2008. The value of Pi will confirm over time. In the future, aim to build a community where members can give money. Exchange of services and goods through Pi.Pi Network is also trying to bring more value to banks, technology giants such as Facebook, Amazon, etc. and other intermediaries. Currently, PCT is booking infrastructure platform for this new digital currency and market by distribution, community building, technology development to ensure currency security and safety.

#8. When can I withdraw money?

Currently you cannot withdraw Pi.You can withdraw Pi or exchange Pi for other currencies in phase 3 of the project. As Pi Network moved to a fully decentralized Blockchain.Pi launched Phase 1 of the project on March 14, 2019, starting Phase 2 on March 2020. In the first 2 phases, your balance is being recorded and will be honored when the Mainnet is in Phase 3. Before Pi Network completes the Mainnet, Pi transfers are limited, PCT is only activated for some members. certain for feature testing.

See also: What is Pirl Coin?

#9. When will Pi be worth what?

Pi holders will be able to turn Pi into real money when they buy goods and services on Pi's marketplace or exchange Pi for cash. According to 2 options:

Directly buy goods and services with Pi

Pi Network is building a peer-to-peer marketplace, where members can directly use Pi to buy goods and services. Pi's in-app transfer test started at the end of 2019 for accounts selected.

Exchange Pi for Fiat on Cryptocurrency Exchanges

Pi Core Team cannot intervene and decide the ICO (first floor release) of Pi on cryptocurrency exchanges (such as Binance, Coinbase, Kraken, etc.). Instead Pi Core Team focuses on develop a technical roadmap to reach phase 3 of the project. Upon entering Phase 3, Pi is tradable. At that point, exchanges can choose the Pi to issue.

#10. How to store Pi in wallet?

Like any other public Blockchain, the Pi Blockchain will also allow external wallets to hold Pi and trade by sending transactions directly to the Blockchain. In phase 3 of the project, you will also have Full wallet ownership option with your private or public keys. At the same time with the goal of easier access to users, Pi Core Team is also developing a private wallet integrated on the Pi Network application for phone that you are using to mine.

#11. Is Pi Network a multilevel model?

Are not. Because Pi doesn't have any payment tier, it's just a form of teamwork. With the multi-level model, the superiors get benefits from all the lower levels. And Pi Network is not like that. For example, A introduces B, then both can increase the mining speed if active, B introduces C, then A has no benefits.

#12. Is the Pi collecting and stealing user data?

Are not. Because Pi only gets identity verification results through a third-party application that is Yoti.Yoti is a famous British identity verification application, extremely secure, all information is encrypted. In addition, the Pi Network application on the phone does not require access rights such as camera, camera microphone, etc. but only contacts and you can turn it off after creating a security circle.

See also: Pirl's Mission

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Last updated 1 year ago