What Made Pi Network So Popular Worldwide Despite No Mainnet Launch?

Pi Network has an incredible popularity!
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With over 50 million active users, Pi Network is one of the most widely supported cryptocurrency projects in the world. Since its launch in March 2019, the network has seen tremendous growth in its user base.

Surprisingly, this fantastic growth happened even though the crypto project has not yet launched its open mainnet, and there is no clear schedule for it as of now. How is it gaining popularity then? Let’s explore the key reasons behind this exponential growth.

Also read: Step-by-Step Guide To Approve Pi Network KYC

Pi Network’s growth overview

Pi Network debuted on March 14, 2019 (Pi Day) with a vision of making Pi cryptocurrency valuable enough to be used to exchange goods and services globally. Its roadmap includes three phases: 1) beta; 2) testnet; and 3) mainnet.

In the first ‘Beta’ phase, which lasted for one year (until March 14, 2020), the project received impressive crypto community support. It reached an amazing milestone of 3.5 million within a year.

The second ‘Testnet’ phase commenced right after, with the ultimate focus on transitioning to a completely decentralized blockchain and utility creation. This phase included significant developments that led the platform to accumulate over 30 million users.

In December 2021, the project entered the third ‘Mainnet’ phase, which is the most crucial phase that aims to migrate to the mainnet (open network). However, before transitioning to the open mainnet, the Pi Core Team (PCT) decided to stay on a firewalled network (the enclosed mainnet) to give developers and Pioneers (Pi miners) enough time for KYC verification, utility creation, and more.

Currently, the project is in the enclosed mainnet phase and has grown to a network of over 50 million Pioneers.

Pi Network’s popularity is also reflected in its social media accounts, with over 2.5 million followers on X (Twitter) alone.

8 Solid Reasons for Pi Network’s Rapid Growth

1) Mobile mining concept:

Before Pi Network’s debut, there were barely any projects working on a handy and more efficient crypto-mining concept.

Traditional mining mechanisms like those of Bitcoin and Ethereum are highly energy- and resource-consuming. Pi Network entered the market with an attentive technology: mobile mining.

2) Ease of Use:

Mining Pi Coins is so easy that even a non-technical person can mine this digital currency. The user interface and experience of the Pi Network app are also straightforward to navigate, playing a vital role in attracting a mass audience.

A negligible amount of effort is required to mine Pi cryptocurrency, that is, just clicking on a button once every 24 hours.

3) Zero entry barrier:

Because there is no need for equipment such as graphics cards, high-end computers, or energy supplies for mining purposes, no initial cost is required to get Pi into account.

Users just need to install the Pi Network app on their smartphones and get started right away. Unlike Bitcoin, Ethereum, etc., Pi Network is highly beginner-friendly.

4) A chance to learn about cryptocurrency:

The cryptocurrency realm is not that friendly for everybody. It requires some fundamental knowledge of blockchain technology, the financial market, and more. With the rise in crypto interest, many desire to enter the realm and learn about the market; however, an initial cost is usually required to do that.

With Pi Network, they will not have to put in any investment. They can start their crypto journey with this novel crypto without any risk of capital loss. This way, they can make the fundamentals of cryptocurrency and the market strong.

5) Hope for better technology and, hence, revolution:

Prior to Pi Network’s launch, most of the cryptocurrency projects were based on consensus algorithms such as PoH (Proof of History), PoS (Proof of Stake), PoW (Proof of Work), etc., which have their own limitations such as scalability, interoperability, and speed.

Pi Network came up with the Stellar Consensus Protocol (SCP), a consensus algorithm that is designed to be more scalable, secure, and energy-efficient than previous consensus algorithms. This ignited optimism among crypto enthusiasts for a better technology that may bring a revolution in the crypto space.

6) Potential profits as early adopters:

It is no secret that a new cryptocurrency can be traded or exchanged for fiat currencies that have the potential to generate profits once it is listed on crypto exchanges. People rushed to mine more and more Pi coins in the hope that the Pi Network would be listed in the future.

Indeed, the mining mechanism is designed such that the mining rate was higher initially and began decreasing with time. So, early adopters have significantly more Pi coins than others.

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7) Word-of-mouth:

As people got involved in mining, they started sharing their experiences with their friends and families. This positively boosted the project’s growth.

8) Social Media:

As the number of Pioneers grew, so did the number of communities on social media. Frequent conversations and interactions on these platforms aided greatly in the growth of the unique crypto project.

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Sanjiv Jaiswal
Sanjiv Jaiswal

Founder and Chief Editor
Jaiswal is a dedicated explorer of blockchain technology, crypto realm, and financial markets. With a passion for data analysis and a love for simplifying complex topics, he leads the Moneybinds team in delivering valuable and genuine insights.

One comment

  1. Hey dear,
    Your approach toward Pi Network is very comprehensive and appreciable too. Your analysis in all your current and previous posts is commendable. Pi Network community and pioneers are impressed with overall, Pi Network’s innovative approach, accessibility, and strong community make it a game-changer in the crypto space, paving the way for a more inclusive crypto future.

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