PI NETWORK TEAM, PI NETWORK MINING AND LUNCH DATE
The first digital currency you can mine on your phone.
It is secure immutable non counterfeitable digital money.
Works on your mobile phone and does not drain your battery.
Pi network team
The project was founded by three individual two of them PHD Dr Nicholas and Dr changdiao
Pi network mining
4 levels of mining -
1 . Pioneer - This is who sign into the mobile app on daily basic,
2 . Contributor - This is the people who using Pi network.
3 . Ambassador - this is the people who I invited.
4 . Node - Run the Pi mining software on computer to help secure the blockchain based on security connections from contributors.
- Reward for mining paid out daily.
- All minus receive a payment for contributing.
- Free transactions when network congestion is low.
Pi network economics
Total supply = M+R+D
M =TOTAL MINING REWARD.
R= TOTAL REFERRAL REWARD.
D = TOTAL DEVELOPERS REWARD.
M = A FIXED SUPPLY OF PI FOR EACH PERSON THAT JOINS THE NETWORK AFTER THE FIRST HUNDRED MILLION.
R= a fixed supply that serves as a referral bonus for both referer and referee can be mined by both parties over their lifetime.
D= my minted along side of each coin minted for mining and referals.
F = Pi s mining and rewards decrease as a function of the number of the network.
Ledger and shared trust graph .
Rating system for notes, based on behaviour and community recruitment.
Scare social media
No need to booststrap
5 million member
Similar of chain governance to BTC?
Committee formed based on network contributions.
Committee responsible for soliciting and contributing to the network.
Phase 1 - design, development and trust graph booststrap.
Phase 2 - test net.
Phase 3 - main net.
Social media and team performance.