Is Pi a scam? Is Pi a blockchain? Will the Pi succeed? How do you think you should answer if your friend asks you?
Image credit to newstop

 Is Pi a scam? Is Pi a blockchain? Will the Pi succeed? How do you think you should answer if your friend asks you?

1. Is Pi a scam?

Many people think the Pi doesn't need any investment, but it collects user information and uses traffic to earn advertising money and suspects it is a scam.

A. In fact, there are only two places in the Pi's overall motion to call user information. First, when registering as a member, only your phone number and real name are required, and personal information is no longer required. Second, during KYC. The current national authentication method is not authentication and the authentication identification is a passport. The reality is that the Pi founding team is connected with a third-party yoti to verify their identity. Therefore, Pi is not suspected of stealing any user information or data.

B. Also, many people think that the purpose of the Pi project is to earn advertising money with traffic. The Pi runs ads every day right after hitting Lightning, but you can turn off this notification feature, which is completely different from some software that can't be closed at will. So obviously the Pi application is not for advertising purposes. Now, many of my friends voluntarily open the button and use it as a fund to support the entire project.

C. As many said Pi is dangerous, it is completely unclear what Pi is. First, there is no financial loss without investment. Second, there is no multi-level financing model because there is no payment tier. A marketing approach is just a form of teamwork, so there is no risk of other laws.

I will add Q&A in order to clarify everyone about Pi Network

2. Is Pi a blockchain?

Recently, Dr. Nicholas is talking about blockchain and hashes. This shows that the Pi founding team is seriously developing a blockchain for pi. It just hasn't entered the mainnet yet. When it becomes the main network, the Pi network launches blockchain technology and records the ledger of all transactions so that the Pi network runs completely independently.

Pi's method is completely different from existing projects such as the pre-sale of ETH in the form of collecting ICOs. BTC is held by most miners, and Pi has taken a different move. First, it creates a community, improves consensus, then launches a consensus algorithm and encrypts Pi on a blockchain platform. Stellar is the tallest ledger to date and pi will soon complete the main net.

So, in terms of blockchain application properties, BTC is a blockchain 1.0 technology and ETH is a blockchain 2.0, allowing other tokens to create smart contracts and further develop them, but Pi is likely blockchain 3.0. Because the Pi network is more flexible, it will become a super blockchain application in the future with more features, faster, and more secure.

3. Will the Pi succeed?

When reading the Pi Network's FAQ, the founding team said from the very beginning that the project is in the development and testing phase, so improvements and improvements are continuing and errors may occur. In this way, the founding team cannot verify that the project was 100% successful, but it doesn't matter. We can give you some data and facts.

  • Pi active users have exceeded 13 million in the last two years and currently have about 50,000 new users every day.
  • In Google, the world's largest search engine, the popularity of Pi has exceeded 710 million, Bitcoin has exceeded 770 million and Ethereum has exceeded 226 million.
  • Pi's WeChat popularity index surpassed 2.64 million, up 4.36% every day. It is second only to Bitcoin 4.46 million and far higher than Ethereum's 269,000.
  • On Facebook, the world's largest social media, Pi's cryptocurrency love surpassed Ethereum's 162K with 168k.
  • Test Network Synchronization In 1 year, the height of the Pi node test block has exceeded 300,000.

  • Pi can complete the transaction in 3~5 seconds, and Bitcoin takes 3~60 minutes.
  • The scope and acceptance of Pi in global barter are increasing rapidly. To date, there are 32 global barter communities and shopping malls, with more than 3 million pioneers participating and a total barter transaction value of over US$ 800 million...
  • Pi decentralized wallet testing has ended and the official wallet is expected to be released in the first quarter of 2021.
  • Comprehensive KYC is coming soon, the period of intra-country transfer is approaching, and the application ecosystem will bloom everywhere.
  • The DAPP framework has been completed, and numerous applications will provide unlimited power to the Pi ecosystem in the future.
  • The mainnet is on the agenda and will be released later this year!
  • There are 6,500 functional node candidates in the consensus container and 4K of them are supernodes. A total of 100k online node users. And still counting

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