The Pi Coin is the native token for the Pi Network, a fast-growing platform that simplifies how people mine cryptocurrencies. Unlike other popular cryptocurrencies like Ethereum and Bitcoin, the Pi token is not listed in any exchanges, which makes it impossible for people to trade it. So, in this Pi price prediction, we will look at what the coin is and whether it makes sense to invest in it.
What is the Pi Network?
The introduction of Bitcoin led to a substantial growth of the blockchain industry. Today, there are over 18,000 cryptocurrencies and the number is growing at a fast rate. Some of the most popular coins today are Bitcoin, Ripple, and Ethereum.
Bitcoin, as a proof-of-work network, introduced a way of generating new coins that is known as mining. It works by use of computers, which work to solve complex mathematical calculations. As a result, the process requires fast computers that have the latest chips and Graphical Processing Units (GPUs). This makes it impossible for an average person to mine Bitcoin, which has a supply cap of 21 million coins.
Pi Network hopes to change this by making it possible for anyone with a smartphone to mine the coin. All one needs to do is download and install the app and login every day to earn a reward. As a result, many people have said that Pi seems like a scam since it does not solve any problem. This is unlike Brave, which rewards users with the Basic Attention Token (BAT) for using its browser.
The developers claim that they will monetize the ecosystem using advertising. However, this will be a difficult process to crack considering that there is no real product it is offering. Further, it is unlikely that any advertisers will sign up and spend money for people clicking their adverts. This situation is vastly different from how other digital marketing companies like Google and Facebook work.
Pi Coin price prediction
It is hard to come up with a Pi price prediction. For one, the coin is not available in any exchange, making it impossible to analyze. The developers have claimed that they will list the coin someday in both centralized and decentralized platforms like Coinbase and UniSwap. If this happens, there is a likelihood that its price will crash as the current holders rush for their exit. Another reason to be wary about the Pi Network is its claim that it has over 200 employees on its LinkedIn page. The total headcount has even grown by 20% in the past six months. However, a closer look at the most people listed shows that they don’t work at the company at all.