“PiCoin Is Exploding? The Next Big Crypto Or A Scam”

The current live Pi price is $46.57 USD with a $11,457,387 USD 24-hour trading volume and it keeps increasing steadily every single minute. Is this finally the crypto that will make me a millionaire? I currently hold around 25000 PiCoins and if I sold them at the price they are at right now – I will make around 1 million and 250 000$, not bad, however, it seems like this won’t be the case. Pi increased by 255.58% over the previous day. In case you’re wondering whether that’s the same coin as Pi Network, unfortunately, it’s not. According to Pi Network’s statement on Twitter, this is not a listing of their coin.

“Pi is in Enclosed Mainnet with no external connectivity permitted. Pi Network isn’t affiliated with and hasn’t authorized any exchange listing. Such listings may not operate on real Pi. Participation may result in loss. Trust only official Pi channels.”

Pi Network

And here’s another statement from their Twitter.

So for those of you wondering what’s happening – well, I don’t know either. But that’s not the coin some of us had farmed on our phones by tapping once a day. And unfortunately, we are not getting rich today. However, you never know what will happen with crypto, so keep an eye on the real PiCoin.

What is the real PiCoin?

The Pi cryptocurrency is a type of currency designed to give users all the advantages of bitcoin without any of its drawbacks. The Stellar Consensus Protocol is a proprietary mechanism that is used by the Pi Network, which was introduced in March 2019 and was created by Stanford University researchers Nicolas Kokkalis and Chengdiao Fan (SCP). By validating transactions and blocks, this protocol uses a merit-based system to encourage network participation. It aims to be more efficient, secure, and scalable than current systems like proof of work (PoW) and proof of stake (PoS).

Users can take on one of four different roles in the Pi ecosystem: Pioneers, Contributors, Ambassadors, or Nodes. 

Pioneers are the Pi Network’s miners, and they can earn tokens by daily tapping a button on their phone application. 

Contributors provide a list of trustworthy users to the network in exchange for an incentive.

Ambassadors promote the network by inviting new members using their referral code and thus receiving a bonus.

Nodes are participants who validate transactions and blocks using the Pi node software on their personal computers.

In Conclusion

It is unknown what is the connection between these two coins, but it is crucial for people to exercise caution and only put their trust in authorized channels when it comes to cryptocurrency news. A further point worth mentioning is that the Pi Network has not approved any exchange listings, and taking part in these unapproved listings could cost you money.