Pi Coin, whose name we have heard frequently recently, with more than 10 million members, is a crypto currency created by three entrepreneurs studying at Stanford University based on the Stellar platform. Let’s examine this coin (Mainnet), which is not yet available on any stock exchange, and is expected to enter the main block chain so that it can be listed on stock exchanges.
What is Pi Network?
The main purpose of the three entrepreneurs who are the creators of Pi Coin is to make Pi the most used platform in the world and to create an environment where the members of this platform can serve and receive services with digital money. Although Stellar is not a platform that allows mining, it has been made to simulate mining with the updates they make and become a sharing model based on the skills of the people.
Pi Network – Pi Coin Mining Phase
Generally, you need internet and electricity to be able to mine, but when it comes to Pi, you can mine without the need for internet or electricity. If you log in once on the mobile application and start the excavation process, the excavation process will continue.
So how will you do mining Pi Coin? First you need to download the mobile application to your phone and then sign up with your friend’s reference code. After that, it is enough to enter the application with the notification that will be sent to you every 24 hours and click on the lightning icon to start the engraving process.
After you start your excavation process, you can create a security circle with both the person who gave you the reference code and the people you gave your reference code, and thus your digging speed increases by 25%. You can invite as many people as you want to the circle you have created, but you can only benefit from 5 people in your security circle.
How Can I Create My Own Security Circle?
After installing and using the Pi Network application, when you complete your 24-hour excavation 3 times, you will be raised to the contributor level by the system and you will come to the stage where you can create your own security circle.
It is also useful to remember that if you want to earn Pi through your security circle, you should dig at the same time with your reference members. If your references are not excavating during your digging process, you cannot earn Pi.
Creating a Pi Network Wallet
With the recent update, you can create a wallet on Pi Network via Pi Browser, which you can download to your phone. You can send and receive your Pi Coins, which are in the test phase and defined by the system in your wallet, by following the steps specified in the application.