Why mine cryptocurrency Pi
The idea of mining the so-called cryptocurrency coins Pi using mobile phones, which everyone carries with them and spends even a few hours a day on them. It was created by experts at Stanford University who are behind the creation of this project. The vision of cryptocurrency Pi (yes π, or Ludolf’s number) is a fairer approach to obtaining cryptocurrencies, which will be able to reach a much wider range of users. At the same time, mining will not put any particular burden on the environment. This is the case with the mining of well-established virtual currencies using powerful computer sets, specialized mining RIGs or mining farms.
Pi is based on Blockchain technology, a special type of distributed decentralized database storing an ever-expanding number of records. Many other cryptocurrencies (Bitcoin, etc.) are based on the same technology.
As the creators themselves present, this currency should not be subject to an enormous accumulation of coins by a narrow group of miners. They want to achieve this by saying that everyone who wants to benefit can have only one application on one phone. In addition, the community grows with the recommendations of active users.
The advantage is also that the application does not particularly strain the battery and the need for mobile data is minimal.
At present (March 2021), the Pi wallet is being tested and is expected to be listed on the stock exchange, and thus a possible appreciation of the mined „coins“ is planned for the turn of the years 21/22. The community is growing fast. It now has more than 13M users. And it follows that the sooner you start mining, the more you will be able to obtain a currency that has a certain potential for appreciation. Despite the fact that it basically costs nothing, only a few seconds of time a day, but more on that below.
So what is it necessary and how to start with a mobile application?
As already mentioned, all you need is a smartphone, the Pi Network application installed either from the link here or from Google Play or from the App Store.
You can use the word „mikulaszby“ in the Inviation code field when registering. In that case, you and the author of this article, who has invited you to join the community, will receive one share each.
And after successful registration, mining will start immediately. The next step should be to verify your mobile number in your profile settings. It would be unpleasant to lose the yield after some time due to an unverified number.
And it is, now just to benefit
Now all you have to do is open the application after every mining cycle, ie every 24 hours, and press the lightning icon so that mining does not stop, that’s all. In addition, after completing three cycles, you can add friends by linking phone numbers. This will both slightly increase your hourly mining output.
There is also a chat where you can communicate with other miners and share experiences. Recently, new FB groups have also been formed, which are more dedicated to this cryptocurrency.
So why not give it a try.