Key Takeaways
Pi Network is a pioneering mobile mining application that allows users to mine cryptocurrency directly from their smartphones with just a single daily tap. Launched in 2019, it has grown into one of the most popular play-to-earn platforms globally.
The native PI coin enables users worldwide to facilitate local commercial transactions. Many merchants accept PI for goods and services, providing real utility.
Beyond application-level uses, PI also offers platform-level utility by converting collective network resources, such as user attention and distributed computing power, into tangible value.
What Is Pi Network?
PI is the native cryptocurrency of Pi Network, a mobile-based crypto mining platform designed to lower barriers to cryptocurrency adoption. Unlike traditional mining that requires specialized hardware, Pi Network enables individuals to mine directly from their personal devices.
The project also aims to scale trust on the web using the Stellar Consensus Protocol (SCP) and introduces "Security Circles" — small groups of trusted users called "Pioneers." Users can conduct peer-to-peer transactions, and the app includes an integrated social channel intended to democratize influence and create an attention-based marketplace.
How Does Pi Network Work?
The network relies on the Stellar Consensus Protocol and a Federated Byzantine Agreement (FBA) algorithm. This consensus mechanism validates updates to the distributed ledger without the energy waste associated with Proof-of-Work systems like Bitcoin.
The mining mechanism is designed to reward users for contributing to the network through a meritocratic system, encouraging daily engagement and community growth.
PI Tokenomics and Supply
The total supply of PI is capped at 100 billion tokens. Of this, 80% is allocated to the community, and the remaining 20% is reserved for the core team. Team tokens are unlocked progressively at the same rate as community allocations. For example, if 30% of the community supply is in circulation, the core team can only access 30% of their allocation.
The community allocation is further divided:
- 65% for mining rewards to past and future users
- 10% for community ecosystem development and organizational support
- 5% for project liquidity
Local Commercial Utility
PI is used globally to facilitate local trade. Numerous businesses accept PI as payment for goods and services. For example, during a local social commerce event in December 2023, over 21,000 participants shared images of local companies offering or planning to offer products and services in exchange for PI.
This grassroots adoption highlights PI’s growing role in everyday transactions.
Application-Level Utilities
Pi Network offers a development platform that allows third-party developers to build web applications in any programming language using the Pi SDK. These apps can integrate with the Pi blockchain, and the platform provides traffic support to help sustain and scale them.
The Enclosed Network phase is designed to help the community create utility-driven apps that offer real use cases for PI. Currently, there are over 70 Pi apps that use PI as their sole payment method — either already on Mainnet or preparing for launch. These span e-commerce, job marketplaces, intellectual property platforms, local commerce, gaming, education, and more.
One notable example is the native KYC application, where users pay for identity verification using PI. This process relies on both AI and human validators, further stimulating token utility. Over 15 million users have already completed KYC using this app.
👉 Explore real-time utility platforms
Platform-Level Utilities
Beyond app-specific uses, Pi Network converts collective resources — such as network-wide attention and the aggregated processing power of computer nodes — into platform-level utility. The first major example is the Pi Ad Network.
In this system, advertisers must purchase PI from the open market to pay for ads displayed across various Pi apps. Developers who show these ads earn revenue in PI, creating a circular economy that benefits all participants.
DeFi Applications After Open Network
Once the Open Network phase begins, Pi Blockchain will support typical crypto use cases like decentralized exchanges (DEX), NFTs, automated market makers (AMM), and more. These features will only be possible when external connectivity is enabled.
About the Founders
Pi Network was co-founded by Dr. Chengdiao Fan (Product Lead) and Dr. Nicolas Kokkalis (CTO). Both hold PhDs from Stanford University and aimed to tackle key obstacles to crypto accessibility and adoption. The project launched on March 14, 2019 (Pi Day) and has since grown to include tens of millions of members.
Getting Started with Pi Network
Joining Pi Network is simple and intuitive. Here’s how to begin:
- Download the Pi app from the Apple App Store or Google Play Store and create an account.
- Once registered, tap the "Lightning" button on the right side of the screen daily to prove your presence and start mining.
- After clicking, the system begins mining PI coins automatically. You’ll see your current mining rate, including PI earned per hour.
- Return every 24 hours to tap the Lightning button again to avoid interrupting your mining progress.
Manual clicking helps verify you’re a real person, not a bot.
Converting and Withdrawing PI Coins
After earning PI, the next step is migration to the Mainnet. This process allows you to convert app-based earnings into transferable Mainnet PI coins.
Migrating to Mainnet
To migrate:
- Click the Mainnet option in the Pi app
- Follow system instructions to complete KYC
- Download the Pi Browser app
- Create a Pi Wallet
- Confirm your wallet and set a lock-up commitment if desired
Once completed, your PI can be moved to Mainnet, making it exchangeable with other public blockchain tokens.
Selling Tokens on Exchanges
After PI is listed on supported exchanges, users can trade it publicly. The Pi Network team aims to clean bot accounts before listing to maintain ecosystem integrity. Understanding the selling process in advance can help Pioneers navigate potential price volatility post-listing.
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Community Engagement and Social Presence
Pi Network has grown to over 60 million engaged users worldwide, with more than 200,000 computer nodes on the testnet (to be migrated to Mainnet after Open Network). Collectively, these nodes are estimated to possess over 1 million processors. This massive, decentralized network forms the foundation for Pi’s real-world utility.
Official Channels
Real-time updates and community engagement occur primarily through the official Pi Network Twitter account. The project also uses YouTube for educational and promotional videos, helping users stay informed. These channels are essential for keeping up with the latest developments and learning valuable tips.
Community Involvement
Pi encourages community interaction through interactive Fireside Chats (in-app content updates) and multilingual chat groups. Users contribute to app development through feedback and community initiatives, making their involvement crucial for ongoing growth.
Engaging with the community not only enhances the user experience but also provides valuable insights and support.
Future Developments and Roadmap
Pi Network’s plan is to enter the Open Network phase for Mainnet once predefined conditions are met. While there’s no specific timeline, market speculation points to late 2024 based on current progress. Once Open Network begins, Mainnet PI will be freely exchangeable with tokens from other public blockchains.
Planned Features and Phases
Pi Network’s roadmap consists of three main phases, with Phase III split into two parts: Enclosed Network (current) and Open Network.
- Phase I: Beta
In December 2018, Pi launched its mobile app on major app stores as an alpha prototype. On Pi Day (March 14, 2019), the original whitepaper was published, marking the official launch. - Phase II: Testnet
This began on March 14, 2020, preparing for the transition to a decentralized blockchain. The live Testnet with globally distributed nodes allowed community testing and decentralized utility development using Test Pi. - Phase III: Enclosed Mainnet
Starting in December 2021, the Enclosed Mainnet means the blockchain is live but with a firewall preventing unwanted external connections. Pioneers can use this time to complete KYC, migrate PI to Mainnet, and build apps/utilities. - Phase III: Open Mainnet
This will begin based on ecosystem maturity and KYC progress. The Open Network will remove the firewall, allowing external connectivity to other networks, wallets, and anyone wishing to connect to Pi Mainnet.
Frequently Asked Questions
What is Pi Network?
Pi Network is a mobile mining platform that allows users to earn PI cryptocurrency by engaging with the app daily. It aims to make crypto mining accessible without specialized hardware.
How do I start mining PI?
Download the Pi app, create an account, and tap the Lightning button once every 24 hours. Mining runs automatically in the background after each tap.
Can I withdraw or sell my PI coins?
After migrating to Mainnet and completing KYC, users will be able to transfer PI to external wallets and eventually trade on supported exchanges once listed.
What is the value of PI?
PI currently has no public market value since it’s not yet traded on exchanges. Its value will be determined by supply and demand once Open Network begins.
Is Pi Network safe?
Pi Network uses established consensus protocols and emphasizes security through verified user identities and Security Circles. However, users should always exercise caution and protect their private keys.
What are Pi apps?
Pi apps are third-party applications built on the Pi platform that use PI as a payment method. They include e-commerce, games, utilities, and more, designed to create real-world use cases for the token.