Many crypto enthusiasts have come across the Pi application or articles in the past. This application is making the waves on the internet, with many people joining it? But there are also some pessimists. The reason why some people are pessimistic is, it is not yet listed on any exchange, meaning that it is not tradable. Does it being not tradable mean it is worthless? Think about it and answer it the way you see fit. But read on to know more about Pi Mining.

What is Pi Mining?

This refers to the mining of the Pi coin using a smart phone application. You simply download the application and register, then you start the mining process.

This mining process is different from the faucets you know, where one has to send a command every hour or thirty minutes. Well, that is tiresome. With the Pi application, you just give the command once within 24 hours.
The good news is that your phone continues to mine, even when if it is off. The mining process does not use the computing power of the smart phone nor does it use the battery power.

Furthermore, it does not use internet data.
What does this mean? This means that a person earns cryptocurrencies virtually for free. According to the Pi developers, we are currently in the first phases. Once we get to the next phase the listing of the Pi coin will be considered and actioned.

Tokenomics

There is not much yet known about its token economics. However, it has a maximum supply of 21 million, a similar supply as that of the bitcoin. Maybe we can assume that the PI coin has the potential to fare as much as the bitcoin. We know the bitcoin will be ahead because it has been the leader from the beginning.

But looking, from the economics side, the demand and supply of the coin determines its price. Interestingly, the Pi is focusing on mass adoption of the coin before its launch. This may increase its demand. Currently, the earning power is 2 Pi. Soon it will get down to 1, before 0.5. From there the mining process ends.

Who's the originator of the Pi coin?

First, Pi is a coin because it is on its own blockchain. This coin was developed by graduates of the Stanford University, in conjunction with the Stanford cryptocurrency community. Yes, you have heard me right. Stanford, one of the leading university in science and technology is behind this coin. Some of the inventors are PhD and MBA holders from the university. Can this say much on its efficiency? Your guess is as good as mine. But I am hopeful, this coin will make it big on the crypto stage.

What can someone do now to participate in the Pi community?

In the current state you can do very little. You can only mine the coin as well as inviting your circle of trust. People who invite others earn more than those who do not.

Currently, Pi does not have social platforms. However, there is a chat room you can access using the application. For more information about Pi, read this article: Pi Mining

The instruction for joining are found at this page: Instructions