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The developers of the Pi Network have created a new algorithm to validate the transactions, called the Stellar Consensus Protocol. (SCP) was architected by David Mazieres a professor of Computer Science at Stanford who also serves as a Chief Scientist at the Stellar Development Foundation.So…… All bitcoin nodes are competing against each other in solving a cryptographic puzzle. Because the solution is found randomly, essentially the node that finds the solution first, by chance, is elected the leader of the round who produces the next block. This algorithm is called “Proof of work” and results in a lot of energy consumption. Pi uses the other type of consensus algorithms and is based on the Stellar Consensus Protocol (SCP) and an algorithm called Federated Byzantine Agreement (FBA). Such algorithms don’t have energy waste but they require exchanging many network messages in order for the nodes to come to “consensus” on what the next block should be. Each node can independently determin...

First and foremost, what is PI Networks? PI Networks is a cryptocurrency project launched in March 14, 2019 by four individuals (professor and graduates of Stanford University), Nicolas Kokkalis Ph.D. (Computer Science), Chengdiao Fan Ph.D. (Computer Science), Vince McPhilip M.B.A., and a visiting student researcher Aurélien Schiltz. According to the PI Networks' Core team, they made PI Networks for smart phone users, increasing its accessibility. Well, let's better dig into Pros and Cons of PI Networks first. PROS: It’s free! No upfront costs. Very little risk, if none at all. It’s the possibility of being a pioneer in something potentially much bigger. The app don't even need to always open. Just click Mine button once every 24 hours and that's it. It’s fun! CONS: New, uncertainty if it’ll ever really take off. You’ll get a lot of halfhearted miners who will stay for only a few days or forget to refresh. Frustrating not getting something that you can sell immediately ...

PI Networks is a very promising crypto currency developed by PhD's from Stanford University. Most crypto currency developers develop the crypto currency first, then create a community to utilize their coins. In contrast to this practice, PI Networks is the only crypto currency where the developers focused in building the community first, which at the time of this writing has exceeded 12 million active pioneers. PI Networks started as crypto currency project in March 2019, by the PI Core Team (PC Team) which composed of Professors and Graduates of Stanford University;  anthropologist Chengdiao Fan , computer scientists  Nicolas Kokkalis  and  Aurélien Schiltz , and business major  Vince   McPhilip . PI Networks aim is to make cryptocurrency accessible to all people no matter what their statuses are. It allows mining PI Coins via Mobile Phone. as of the time of this writing, PI Network Main Net has not released yet, but its community has grown to more than ...