What is security circle in Pi Network and how to build it?
In a simpler term, the blockchain of Pi Network is built on a trust graph. Meaning, no fake account or bad actor must be there. So your duty as a good pioneer is to help them point at 3 -5 people that can be trusted. You really have to be sure that these people are trusted so that our blockchain will not be messed up. This is why it is called the contributor role in pi network. It is your contribution to the network by keeping it free of bots and fake actors.
What does it mean to be trusted?
To be trusted, a pioneer must have just one account and must be in pi network to the end. If a pioneer is caught to have 2 or more accounts, he/she might lose all or might not be given the opportunity to be KYCed. If you use such persons, you will have to pay for it. It is also people who have verified either their mobile number or facebook account.
Benefits of building your security circle in Pi Network
- The first benefit is by protecting the pi network because if our blockchain is completely decentralized, and with trusted people, it will be good for us.
It will help the Pi core team (founders) to easily spot fake accounts. This is because, nobody will be pointing at fake accounts to be trusted.
Pi network rewards you for protecting the blockchain with 3 – 5 trusted people. This could be more.. Meaning you can use hundred people to build your security circle but you are only rewarded for a maximum of 5 people.
You are given a mining speed of 0.04π/hour for one trusted user meaning 0.04 x 5 = 0.20π/hour for the 5 trusted users. This is to say for every 1 hour, you get additional 0.20 pi. Now let’s times it per day. 0.20 x 24 = 4.8 pi.
For building your security circle, you have extra 4.8 pi everyday mine. If you mine a month, you will have 4.8 x 30 = 144 pi every morning. You see? It’s good.
What happens when you don’t use a trusted person?
If the people you used are fake accounts or didn’t pass KYC, all the benefits you got from them would be calculated and deducted from your account. Even though 1 person didn’t make it or the 5 of them. So be careful whom you use. Use serious and trustworthy people.
Importance of people using you to build their security circle
If people use you to build their security circle, you won’t be rewarded. You won’t even know who used you or not. The only thing there is that they are pointing at you to be trusted. They are vouching that you are a trusted person. When the blockchain will be completed and they would want to move us there, they will purge out all the fake accounts which are.
- People who didn’t verify their mobile number or facebook.
- People who people didn’t use to build their security circle.
- People who wouldn’t pass their KYC.
How to build your security circle in Pi Network ?
Security circle can be built in two ways.
1. From already existing users: these are the people in your earning team. The people you invited or people that invited you.
2. From your contact: these are people you know are pioneers, have their contacts, who registered with their phone numbers but are not in your earning team.
Save their numbers and add them through contact. This will benefit people who also registered with their mobile number. This is one major reason I beg my referrals to register with mobile number.
Let’s all keep our Pi secured. Meanwhile, Security circle looks like this. Some circles are big and some are small.