The 3 phases of the Pi Network
Phase 1: Design, Distribution, Trust Graph Bootstrap.
- Pi Server will emulate the behaviour of the decentralized system
- Pi will not be listed on exchanges during this phase and it is not able to buy or sell Pi.
- All the coins of the users will be migrated to the live net once it launches.
Phase 2: Testnet
- The Node software will be deployed on the test net.
- Users will be able to download their own Nodes.
- The network is getting ready towards the Mainnet
Phase 3: Mainnet
- When the community feels the software is ready for the production, and it has been tested on the Test Net, the official mainnet of the Pi Network will be launched.
- The Phase 1 emulator will be shut down, and the system will run on its own.
- The coins will be transferred to the manner, and duplicate/fake accounts will be removed.
As of June 14, 2020 the Pi Network is in Phase 2.
4 facts about the Pi Network
- It uses an incredibly complicated consensus algorithm known as Stellar Consensus Algorithm
- It is created by members of the "Stanford Blockchain collective"
- The main creator teaches a class called "Blockchain App Design" and was likely a student of Stanford Professor David Mazieres, the creator of the Stellar Consensus Protocol.
- You can disable ads on the app by going to your Profile.
Source: SubReddit. @Giant2005 @MaikMerra
Your thoughts on Pi Network?
What are your thoughts on the Pi Network? Do you think it is a scam? I am a very new user of this network, so this is all of what I have researched about it. Feel free to put forward your points about this in the discussions below.
I am no where associated or sponsored by the Pi Network. I am just trying to spread the word and get your perspective on it. Do your research before taking any huge steps.
