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pi network

Pi Network is a cryptocurrency project launched in 2019 by a team of Stanford graduates, including Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. It aims to make cryptocurrency mining accessible to everyone by allowing users to “mine” Pi coins using a mobile app, without the need for expensive hardware or high energy consumption. Unlike traditional cryptocurrencies like Bitcoin, which rely on energy-intensive proof-of-work, Pi Network uses a consensus mechanism based on the Stellar Consensus Protocol and a “trust graph” built from users’ social connections. The project has been in development for years, transitioning to an “enclosed mainnet” in December 2021 and fully launching its open mainnet on February 20, 2025. It boasts over 60 million registered users globally, with the goal of creating a decentralized, user-friendly digital currency for everyday transactions.