PI Mining - Overview

PI MINING

[Extract from the white paper] As the world becomes increasingly digital, cryptocurrency is a next natural step in the evolution of money. Pi is the first digital currency for everyday people, representing a major step forward in the adoption of cryptocurrency worldwide.

Pi Core Team set out to find a way that would allow everyday people to mine (or earn cryptocurrency rewards for validating transactions on a distributed record of transactions). One of the major challenges that arises with maintaining a distributed record of transactions is ensuring that updates to this open record are not fraudulent. 

While Bitcoin’s process for updating its record is proven (burning energy / money to prove trustworthiness), it is not very user (or planet!) friendly. For Pi, we introduced the additional design requirement of employing a consensus algorithm that would also be extremely user friendly and ideally enable mining on personal computers and mobile phones.

There are four roles Pi users can play, as Pi miners. Namely:

Pioneer. A user of the Pi mobile app who is simply confirming that they are not a “robot” on a daily basis. This user validates their presence every time they sign in to the app. They can also open the app to request transactions (e.g. make a payment in Pi to another Pioneer).

Contributor. A user of the Pi mobile app who is contributing by providing a list of pioneers he or she knows and trusts. In aggregate, Pi contributors will build a global trust graph.

Ambassador. A user of the Pi mobile app who is introducing other users into Pi network.

Node. A user who is a pioneer, a contributor using the Pi mobile app, and is also running the Pi node software on their desktop or laptop computer. The Pi node software is the software that runs the core SCP algorithm, taking into account the trust graph information provided by the Contributors.

A user can play more than one of the above roles. All roles are necessary, thus all roles are rewarded with newly minted Pi on a daily basis as long as they participated and contributed during that given day. In the loose definition of a “miner” being a user who receives newly minted currency as a reward for contributions, all four roles are considered to be Pi miners. We define“mining” more broadly than its traditional meaning equated to executing proof of work consensus algorithm as in Bitcoin or Ethereum.


video overview

Want to know how to mine PI register using the first link below. Trust me you're not going to regret it. It's free. No money involved.

Registration Link : https://minepi.com/Hybrid2605
YouTube Channel: https://youtube.com/channel/UCW1J_zAU...
My Website: https://hybridmining.blogspot.com/ Telegram : https://t.me/+uqttyM-urx42Mzg0 Facebook : https://www.facebook.com/groups/24046... Twitter : https://twitter.com/fegberibo?t=ejlTd... WhatsApp group: https://chat.whatsapp.com/B8BhJexIy25...

Comments

Post a Comment

Popular posts from this blog

Satoshi (BTCs) Mining

Image
Choice Comes from TRUST   ️ Bitcoin satoshi (BTCs) is a crypto project designed to solve certain problems which Bitcoin (BTC) couldn’t solve, by ensuring easier and fair distribution of the coin among miners. BTCs is a Coin, not a Token, because it has its own Blockchain (Satoshi Public Chain) - that's why BTCs will serve as fuel (transaction fee) same as Ethereum (ETH). BTCs Mining (Excerpt from the WhitePaper) BTCs is the primary encrypted fuel within the Satoshi public chain to pay transaction fees. The function and value are equivalent to Ethereum's ETH. BTCs is from the technology of the public chain, BTC + Satoshi = BTCs. BTCs community is implementing a culture of consensus, co-creation and sharing. In the future, Satoshi ecological project will offer free BTCs project token airdrops so that BTCs have both the growth value of the Satoshi public chain and the value of ecological prosperity. Satoshi public chain is a future blockchain economy infrastructure, an optimal so...
Read more

Satoshi TestNet

Image
  Satoshi Chain TestNet https://test.btcs.network The Satoshi chain TestNet has been officially launched. We invite exchanges, developers, researchers, and users worldwide to join the trial, get the high performance chain experiences, and explore the infinite possibilities of Satoshi applications together. Test functions include viewing various data on the chain, using the wallet functions, creating contracts, creating tokens, creating dApps. The validator (both Bitcoin hash mapped validators and BTCs staked validators) as well as relayers and user staking functionalities are not available yet. The team will conduct more thorough tests before releasing them to the public. For now, you can visit the blockchain browser (https://test.btcs.network) to view TestNet chain data. In the coming weeks, we will launch the staked validator function, user staking function, test swap, and various documents. About the technical whitepaper, after careful considerations we decided to release it a w...
Read more

OpenEX Project - How To Participate In OpenEX Project on the Satoshi Mining App

Image
 How To Participate In OpenEX Project on the Satoshi Mining App OpenEX is a web3-based decentralized exchange, aiming to combine the advantages of both (central exchanges(CEX) and decentralized exchanges(DEX)) types to provides users with a safer and more efficient trading experience. So today i will guide you on how to participate in the OpenEX Project on the Satoshi Mining App . 1: Click on the satoshi app icon to open the app. 2: Click on the "Project" button below. 3: Click on any surface of the OpenEX. 4: Click on "Participate in airdrop" 5: Click on close. 6: Take note of the "Estimated end time and Estimated allowed coin withdrawals"  because it's important you know this to help you mine OpenEX more before the withdrawal end time. 7: Return to the home screen and don't forget to always claim your mined coin before it gets to 25 blocks. Want to know how to mine OpenEX and still get some free Core , register using the first link below...
Read more