Interested in mining crypto currency on your phone?
If so you are reading the right post.
Pi Network can be mined on your cellphone, its free and does not drain your battery. You can start today with their free, energy-light mobile app. Please use this link Start Mining Now to sign up and we will both mine at a faster rate (referral code is: alex132alex).
Pi is the first digital currency for everyday people, representing a major step forward in the adoption of cryptocurrency worldwide.
What is PI ?
PI Network is a revolutionary SocialChain App by the team of Stanford PhD's giving the economic and social power of blockchain technology and the cryptocurrencies into the hands of everyday people by redefining wealth. PI's vision is to build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency.
As in the earlier days of Bitcoin, it was really easy to mine it. Though you could have earned 50 BTC only by running the mining software on your personal computer. It didn't remain for so long until one after the other the mining companies began spreading around the world. It turned into such a frenzy that these companies started developing specialised chips (ASIC) to mine this digital currency.
This approach gave the power to the companies like Bitmain etc. For a better understanding what it caused is that back in 2019 more than %80 of the Bitcoins are owned by only the %1 of the network! It was against the purpose of this technology and created a very huge handicap for solo miners, not even mentioning everyday people. Most can only buy it... a fraction of it, to be honest!
Have a phone? You got PI!
Bitcoin uses the first type of consensus algorithm:
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.
On Stellar Consensus Protocol and Federated Byzantine Agreement things work a bit different.
Each node can independently determine if a transaction is valid or not. For a network of computers to agree on which transactions to record in a block and the order of these transactions and blocks, they need to message each other and have multiple rounds of voting to come to consensus. SCP nodes secure the shared record by vouching for other nodes in the network as trustworthy. Each node in the network builds a quorum slice, consisting of other nodes in the network that they deem to be trustworthy
Quorums are formed based on its members quorum slices, and a validator will only accept new transactions if and only if a proportion of nodes in their quorums will also accept the transaction. As validators across the network construct their quorums, these quorums help nodes to reach consensus about transactions with guarantee on security.
PI consensus algorithm builds atop SCP and offers these adaptations:
**☼ Pioneer **
Pioneer is the user of Pi mobile who confirms that they're not a robot by starting a mining session. Pioneers can make p2p transaction on platform.
☼ Contributor
Contributor is a pioneer who contributes to system by providing a list of trustworthy piooners to build a global trust graph
☼ Ambassador
Ambassador is a user of the App who brings other users into Pi Network
☼ Node
Node is a user who is a pioneer, a contributor and running the PI Node sofware on their computer.
You can join PI Network now and start mining on your mobile to end the dominance of "so-called" Decentralized Bitcoin
Click HERE To join the PI NETWORK and start mining now.
alex132alex is your invitation code!