Mining Pi (Pi Network)
Mohammed Akrami Imtiaz Ahmed
Social Media Content Creator (Facebook:@minewithpi Instagram:@miningcryptoz, Twitter:@miningcryptoz Accountant/Operation In-Charge/Commercial Executive
Pi Network is a digital currency project that aims to keep cryptocurrency mining accessible as the centralisation of first generation currencies like?bitcoin has put them beyond the reach of everyday users.
The Pi Network, developed by a team of Stanford graduates (Dr. Nicolas Kokkalis — Head of Technology
Dr. Chengdiao Fan — Head of Product
Vincent?McPhillip — Head of Community) , enables users to mine coins using its mobile phone app, validating transactions on a distributed record.
Unlike nodes on networks such as Bitcoin that use proof-of-work (PoW) protocols, Pi nodes use an algorithm based on the Stellar Consensus Protocol (SCP). Pi Nodes validate transactions on a distributed ledger and reach a consensus on the order of new transactions that the ledger records.