What Can Make Pi Network More Valuable Than Bitcoin?

Bitcoin, the first-ever cryptocurrency, does not need much introduction. Being the most valued and recognized digital asset, Bitcoin is considered the most authoritative cryptocurrency today.

Well, there is a rapidly emerging solid contender to this crypto giant, and that is Pi Network. This revolutionary project commenced four years ago, in March 2019, and has already attracted over 50 million active users worldwide.

It is worth comparing these two massively supported cryptocurrencies, and many crypto experts believe that the novel crypto can even beat the crypto giant, which is indeed a reasonable belief.

Let’s explore the qualities that can help Pi Network overtake even Bitcoin in value.

7 Significant Factors that Can Make Pi Network More Valuable than Bitcoin

1) Vision behind the cryptocurrency

While Bitcoin is primarily regarded as a digital asset investment, Pi Network’s mission is to move beyond this “store of value” idea.

Pi Network’s mission is to make the Pi cryptocurrency home currency so that people can use it in their daily lives just like they do with fiat currencies.

Interestingly, many retailers can be found in many countries exchanging Pi coins for real goods and services. It showcases the potential of the Pi Network.

2) Accessibility

The Pi Network is easier to access than Bitcoin. The Pi Network app on a smartphone allows users to mine and access Pi currencies. It is as simple as tapping a button every 24 hours to mine the Pi Network coin.

On the other side, mining Bitcoin requires energy-consuming specialized hardware, etc.

3) Scalability

Scalability is a major issue with Bitcoin, being very slow in transactions and not efficient for regular use.

Based on a new in-development consensus algorithm called Steller Consensus Protocol (SCP), the Pi Network is designed to be more scalable than Bitcoin. SCP makes the Pi Network faster and more efficient than Bitcoin’s Proof-of-Work (PoW) consensus algorithm.

4) Ecosystem development

Building a strong ecosystem of dApps (decentralized applications) and utilities powered by Pi Coin is unarguably the foremost objective of the Pi Network project. The project has been focusing on development, despite the current mainnet noise.

Products such as Pi Chat with the new staked DMs feature, Fireside Forum, WorkforcePool, RadioForUs, etc. are Pi-powered and have contributed to building the real value of Pi coin.

5) Partnerships

Pi Network already has a great reach, and partnering with other organizations and businesses to accept Pi Network as a payment will certainly boost the value of Pi Coin. In fact, the exchange of Pi coins for goods and services has already gained popularity in many countries.

6) Adoption

According to an estimate by BuyBitcoinWorldwide, there are around 106 million people who own and use Bitcoin in 2023.

Pi Network is one of the most rapidly growing crypto initiatives in terms of user base, and if the growth rate continues, it can convincingly overtake Bitcoin’s adoption rate.

Notably, the value of a digital currency is positively correlated with its adoption rate.

7) Increase in awareness

A considerable part of the Pi Network community is not very mature in the cryptocurrency realm.

Spreading awareness and educating non-technical people about the future of Pi Network and cryptocurrency will surely benefit the crypto project’s mass adoption.

Conclusion

Pi Network is still in its development phase and has not gained enough maturity. While it is worth considering the pointers above as the factors for making Pi Network the most valued cryptocurrency, it will take this new crypto a significant amount of time, and that too if it becomes a successful project.

Notably, the value of Pi Network refers to its monetary and utility-based values, and it will be a very long-term game for Pi Network to establish itself as the most authoritative cryptocurrency.

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