Pi coin, or PI, is the first digital cryptocurrency that runs on the Pi network, and as with other cryptos such as bitcoin or Ethereum, it was designed to undergo regular “halving” to protect its scarcity. Halving is when the number of coins a miner receives for processing new transactions is reduced by half
According to developers of this pi crypto, this is a new cryptocurrency which can be mined from your hand phone. They have an app called pi network mining app.
If you compare it’s coin to BTC, just as bitcoin was launched in 2008 and was valued at low. But you can see now this bitcoin is valued at $44000 US dollars.
The PI Coin is still in its formative level. It currently gives you a great and rare opportunity to mine pi. With around 30 million active users or community, it’s getting closer to a 100 million target after which the pi KYC will soon be active. Hopefully when it’s listed in the market it may become one of the most valuable crypto. But for now do all you can to earn PI network mining daily. If you now want to start mining or want to Create a pi account Please follow the step by step direction How do you mine the pi?
What is the maximum supply of Pi coin?
The maximum supply of Pi has been confirmed at 100 billion Pi. In the meantime, the total supply of Pi network coins has not been announced exactly, but on December 29, 2021, as it launched the “enclosed mainnet”, a draft of a new mainnet whitepaper was released by the pi developers, which confirmed the total supply of Pids.
Details About the supply of the total quantity of Pi Coins.
- The Pi core team designs the total supply of Pi network Coins to be 100 billion.
- Of the 100 billion pi network Coins designed, 20% of the rights are exercised as a stake in the pi core team.
( In other hand, 20 billion pi will be owned by the pi core team, and the total amount excluding it will be 80 billion pi. )
- The Pi Core Team “expresses” the total mining volume from launch to just before this mainnet at about 30 billion Pi coins.
( It is not clearly discussed in the white paper whether the figure of 30 billion pi was announced as an exact result, or whether even the pi core team estimated it as an approximation. But at least it seems certain that the amount released so far is close to 30 billion pi. )
- The Pi Core Team “predicts” that of the 30 billion pi mined so far, about approx 10 billion pi will be burned.
( Reasons for incineration may include rejection of KYC certification or voluntary abandonment, or detection of fraudulent acts due to fake accounts or other issues. Since it is only possible to predict how much will be incinerated, the pi core team would have had no choice but to announce an estimate for this part. In this case, the net mining pi network coins amount so far can be expected to be about 20 billion. )
- The pi Core Team will provide 15 billion pi coins out of the total supply of pi in a way other than mobile devices mining.
( This amount will be paid of various prizes, rewards, and salaries that may exist in the future, such as compensation for the operation of Pi “nodes” that can be run on the current PC and difference competitions and events such as hackathons. )