Pi Network has continued seeing remarkable growth as the number of users and miners has jumped. The network’s number of users has jumped to over 33 million while its app growth has held steady. In this Pi Coin price prediction, we will explain what the network is and whether it is a good investment.
What is Pi Network and its ecosystem?
Pi Network is one of the fastest-growing blockchain networks in the world. It is a blockchain platform that seeks to become a mainstream player in the industry. It is achieving that by making it possible for people to mine cryptocurrencies using their browsers.
Pi Network’s ecosystem has been growing rapidly in the past few months. It has over 33 million pioneers from around the world. Also, the developers have launched products like the Brainstorm App, Pi Wallet, Pi Browser, and the Pi Blockexplorer. Its Twitter network has over 2 million followers. Pi Browser’s mobile app has over 10 million downloads.
Further, early this year, the developers announced the implementation of new mining rewards and mass identity verification (KYC). The KYC solution uses a decentralized approach that combines automation and human verification.
Another update to its white paper was about the network’s halving event. The network adopted a mining mechanism where the mining rate halves every time the network size increases by 10 times. As such, the next halving is expected to happen when the number of network’s pioneers rises to 100 million.
The developers also launched a new mainnet formula that is aimed at leading to more decentralization, utility, stability, amd longevity. This formula will provide more incentives for the diverse contributions of pioneers to support the mainnet goals while retaining incentives to grow the network.
Pi Coin price prediction
At this stage, it is not possible to do a real Pi Coin price forecast since the coin has not been pushed to exchanges. It is unclear when this launch will happen since Pi Network was launched a few years ago.
Still, judging by the performance of the recent coins like SWEAT Economy, GMT, and Aptos, there is a likelihood that Pi Network will drop after launch. SWEAT has crashed by over 88% despite the fact that it has millions of users globally.