I am sending you 1?! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/8myPI and use my username (8myPI) as your invitation code.
https://minepi.com/8myPI
The PI coin is entering there Phase 2 of their road map, having starting testing the mainnet privately, They are set to have the first official PI wallet release on the horizon. Currently their testnet wallet will be available on March 31st. This will help test the wallet application for any potential bugs before the official release. So other then a seemingly simple investment of taking couple seconds once a day, to start the application and begin mining from your mobile device. Why should you choose PI ?? Well If you have tried finding any mining apps previous, you know they bomb you with ads or flat out dont work. The Pi application will allow you to turn those annoying ads off if you want, or can support the network by watching them. Have you tried to peek behind the curtains of any other emerging applications, you'll notice most of them hide behind websites and emails. Layers upon layers of cloaking while asking for support. *donations* Whenever a product, company or application doesn't have someone proudly owning it, sends off red flags in my head. While Pi network is founded by 3 highly credited Stanford PHDs. Nicolas Kokkalis Ph.D. ’13, Chengdiao Fan Ph.D. ’14, Vince McPhilip M.B.A. ’18. They have a very elegant written whitepaper and are following current roadmap in place.
To get a better understanding of and simplify the legitimacy of Pi coin and the blockchain infrastructure, i will use a small extract from the Pi whitepaper.
Before jumping to introducing the Pi consensus algorithm, it helps to have a simple explanation on what a consensus algorithm does for a blockchain and the types of consensus algorithms that today’s blockchain protocols generally use, e.g. Bitcoin and SCP. This section is explicitly written in a oversimplified manner for the sake of clarity, and is not complete. For higher accuracy, see the section Adaptations to SCP below and read the stellar consensus protocol paper.
A blockchain is a fault-tolerant distributed system that aims to totally order a list of blocks of transactions. Fault-tolerant distributed systems is an area of computer science that has been studied for many decades. They are called distributed systems because they do not have a centralized server but instead they are composed of a decentralized list of computers (called nodes or peers) that need to come to a consensus as to what is the content and total ordering of blocks. They are also called fault-tolerant because they can tolerate a certain degree of faulty nodes into the system (e.g. up to 33% of nodes can be faulty and the overall system continues to operate normally).
There are two broad categories of consensus algorithms: The ones that elect a node as the leader who produces the next block, and the ones where there is no explicit leader but all nodes come to a consensus of what the next block is after exchanging votes by sending computer messages to each other. (Strictly speaking the last sentence contains multiple inaccuracies, but it helps us explain the broad strokes.)
Bitcoin uses the first type of consensus algorithm: All bitcoin nodes are competing against each other in solving a cryptographic puzzle. Because the solution is found randomly, essentially the node that finds the solution first, by chance, is elected the leader of the round who produces the next block. This algorithm is called “Proof of work” and results in a lot of energy consumption.
A simplified introduction to Stellar Consensus Protocol
Pi uses the other type of consensus algorithms and is based on the Stellar Consensus Protocol (SCP) and an algorithm called Federated Byzantine Agreement (FBA). Such algorithms don’t have energy waste but they require exchanging many network messages in order for the nodes to come to “consensus” on what the next block should be. Each node can independently determine if a transaction is valid or not, e.g. authority of making the transition and double spending, based on the cryptographic signature and the transaction history. However, for a network of computers to agree on which transactions to record in a block and the order of these transactions and blocks, they need to message each other and have multiple rounds of voting to come to consensus. Intuitively, such messages from different computers in the network about which block is the next would look like the following: “I propose we all vote for block A to be next”; “I vote for block A to be the next block”; “I confirm that the majority of the nodes I trust also voted for block A”, from which the consensus algorithm enables this node to conclude that “A is the next block; and there could be no block other than A as the next block”; Even though the above voting steps seem a lot, the internet is adequately fast and these messages are lightweight, thus such consensus algorithms are more lightweight than Bitcoin’s proof of work. One major representative of such algorithms is called Byzantine Fault Tolerance (BFT). Several of the top blockchains today are based on variants of BFT, such as NEO and Ripple.
This in itself speaks volumes when you compare to other likewise applications. BEE for example feels it could be made entirely of hand me downs and a misshapen science clone. Pi has a clear message backed with science, facts and now even history. Due to other previous cryptocurrency success off similar code. The core concept was novel. Bringing cryptocurrency into the hands of the everyday man. Anyone with a mobile phone and internet connection would be able to "mine". As opposed to todays warehouses of supercomputers competing for the next block. The Pi network offers a simple yet effective way of halving the currency just as bitcoin and others have done. This will keep scarcity and ultimately a cap on how many Pi available. I have high hopes for PI and the founders who are dedicated their path without corporate fundings, are striving to help level the playing field for the little guy. Its so simple if you want join... Have you 8myPi today??
This article is for entertainment and informational purposes. This is not financial advice and i am not a financial advisor, invest at your own risk.
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Or start cloud-mining BEE ?? and pi. Link below.
Here is my invitation link for BEE Network. Use the invitation code: mjbtc. Download at https://bee.com/en/download
https://minepi.com/8myPI
Use 8mypi to start cloud mining from your phone.
Leave a comment if you enjoyed the content and would like see more. Any suggestions will surely be covered over time. Suggesting them will just make it happen faster ??
