Pi is a new electronic cash or cryptocurrency similar to the cash balance you have in your bank mobile app. Unlike traditional currency, Pi allows participants to transact peer to peer without involving a third-party which translates to lower transaction fees.
Here are some progress of Pi So far;
- Community is now 23+ Million strong.
- Pi Network got a working block chain with one of the fastest transaction speeds out there, which can be tested with Test Pi
- Got a wallet where you can transfer your Pi in phase 3 (Mainnet)
- Loads of apps are being developed in Hackathon which will fuel the growth of Pi ecosystem.
Pi Network members/ participants who understands the scope of this Pi project will be big time supporters. This is an extensive Wiki about Pi Network on Reddit. Take time to read and empower your mind with the right information because we’ve passed the doubting stage long ago.
Bitcoin and Altcoins are volatile currencies whose value is determined through speculative trading on exchange platforms, while Pi Network is building a currency that must be stable enough so as to facilitate daily transactions by everyday people globally.
This can only be done by we Pioneers helping to build a robust economy and utilities where Pi is used for daily transactions and not as speculative asset like Bitcoin and alt coins.
Hence, crypto exchanges listing Pi isn’t so much of a good news at the early stage of Pi network, because Pi needs time to build this robust economy and every Pioneer together with their Pi should be involved.
According to pioneer’ Alexander Pym Allison; “Speculation is one of the major roadblocks to mainstream adoption of Digital (Crypto) Currency as a medium of exchange for Products and Services. Other problems can be mitigated by adjusting the technology.
“The internet is an information protocol while the Blockchain is a protocol for value exchange. Like the Internet, Blockchain technology will disrupt the current backing system and usher in a new era of money.
“We are constantly buying the same amount or measure goods (Products) for more and more Money. Inflation is real and it’s happening at an alarming rate. The future of finance (money) will be decentralized. Join the revolution today, join Pi Network.”
Inflation makes you to buy lesser goods for more money; Deflation makes you buy more goods for lesser money. The Banking Monetary Network offers Inflation; Pi Monetary Network offers Deflation.