Hey guys, welcome Friends today we will talk about PI network
What's so special in Pi??
Why it is going to be a huge success??
This question is definitely running in your mind that what
makes Pi special?? We already have such famous cryptocurrencies for example Bitcoin,
Ethereum, so
where Pi stands??
What is lacking in these famous coins like Bitcoin or
Ethereum that Pi has to come forward. So, guys, this video will be a little
technical So read it carefully.
So, let’s talk about Bitcoin and Ethereum
Their mining is done with the help of consensus algorithm And
the name of that algorithm is Proof of Work And this proof of work algorithm
depends upon large computational powers, More the computational power, higher
will be the mining speed
Now let’s talk about its limitations
Firstly, for such computational powers, we need large hardware’s and software’s So, it is out of the reach of common people to do mining Secondly the transactions speed is slow, If anyone of you does bitcoin transactions then you must know that it takes some time for the transactions approximately half an hour to one hour. And in order to increase transaction speed, we have to give extra fees and the 3rd main problem is a concern to the environment If we look at the data of the last few years, the bitcoin mining results in 3 - 25 megatons of carbon emission which is very harmful to our environment.
Now to fill up these limitations, many new coins arrived. One of them was Ripple and the other was Stellar which is also known as Lumen And one of the co-founders of Ripple has made Stellar. Their main benefit was the difference in consensus algorithm with respect to bitcoin and Ethereum Now let’s talk about the benefits of Ripple and Stellar Algorithm
Firstly, fast transactions
Secondly, low wastage of energy
Their coins or already pre-mined,
that's why less wastage of energy
Now, let's talk about the difference between these two.
the main difference is the target audience. The main focus of
Ripple is on large banks and institutions So that, they can easily do
cross-border payments very fast and with less cost Now the Stellar's main focus
is on giving payment platform to the
developing countries or the under-developed countries so that they can do cross
border transactions easily and effectively
Now let's talk about their limitations due to which Pi have
to come forward.
If you know a little bit about cryptocurrencies then you must
have known that, one of the main motives of cryptocurrency is to be fully
decentralized but there were only a few private nodes in Stellar and Ripple due
to which they are actually centralized networks and not decentralized networks and
their audience is also limited And after this, Pi network came into existence.
It worked on the limitations of both types of cryptocurrencies. As the algorithm
of bitcoin was lacking and the nodes of Stellar and Ripple were private, not
public. means the network was centralized
So, Pi network came up with the algorithm that it has taken
from Stellar named Stellar Consensus Protocol And Secondly, since there was a
limitation of private nodes So, Pi network came up with Public nodes, So that
the network will be fully decentralized And the main audience of Pi network is
everyday people So that everyday people can transact in cryptocurrency easily So,
is that all???????
Wait Wait Wait!!
Do you know, most of the cryptocurrencies have zero intrinsic
value? Their value depends totally upon demand and supply. they don't have
their own value. But Pi network is focusing on building intrinsic value by
backing up it with physical assets and services.
Now the question is,
How Pi network is going to build
intrinsic value
The answer to this is, by making an App Store. Where we can
Buy and Sell commodities or services with Pi. As we all know at this time, Pi
is running in the Testing phase, which means running in Phase 2. where its main focus is
on the deployment of nodes. so that it can become a fully decentralized network
and secondly, building up an App Store. which probably can be done at the end
of this year.
but be aware, Pi is not officially listed yet
It will be on exchange in 3rd phase
and guys, for the time being, click daily on mining and
collect Pi as much as possible. If it got success, it will change our lives. Don't
let this opportunity slip through your hands.
If you haven't joined yet, what are you waiting for man!!
If you want to join then click here PI network coin
Guys If you liked my article then do, subscribe and share
this article as much as possible, it will help me and
Join our group on PI network called fistful of dollar's under the referral ( brandor )
ReplyDeleteThis is the android url Pi Network.
This group is in PI for the long haul and will be trying for a supernode, we are also looking for referrals to help with apps for PI services, games and communications to link all the nodes and members in one happy space. Remember you still have time before phase 3 to be where I am presently over 1000 PI coins.
We will help you succeed, so we all can succeed, as one large network connecting our world.
Thank you
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ReplyDeletehttps://halvmining.com/
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