#show-card ## Introduction [Pi Network](https://minepi.com/blog/) is a digital currency project aimed at making cryptocurrency mining accessible to everyday users through mobile phones. Founded in 2018 by Stanford graduates, the project seeks to distribute cryptocurrency fairly and build a decentralized marketplace and ecosystem for its users. ## Service Provided [[Pi]] Network provides a mobile-first cryptocurrency mining experience that consumes minimal battery power and processing resources. Unlike traditional cryptocurrencies that require significant computing power to mine, Pi can be mined through a mobile app by tapping a button once every 24 hours. This approach makes cryptocurrency accessible to the general public without specialized equipment or technical knowledge. ## Technical Details The Pi Network operates on a [[Consensus|consensus]] algorithm called the Stellar Consensus Protocol (SCP), which is more energy-efficient than traditional [[Proof of work|Proof of Work]] systems. Pi uses a security circle concept where users build trust networks that contribute to the overall security of the blockchain. ## Team The Pi Network was founded by a team of Stanford graduates: - Dr. Nicolas Kokkalis - Head of Technology - Dr. Chengdiao Fan - Head of Product - Vincent McPhillip - Head of Community ## Roadmap Pi Network follows a three-phase development roadmap: - Phase 1 (Beta): Launched in March 2019, allowing users to mine Pi on mobile devices - Phase 2 (Testnet): Launched in March 2020, testing the Pi blockchain - Phase 3 (Mainnet): Transition to a fully decentralized blockchain with KYC verification requirements and open ecosystem development ## Latest Updates - 2022 Q4: Mainnet launched in closed network mode with KYC verification requirements - 2022 Q2: Introduction of Pi [[Wallet]] and enhanced KYC verification system - 2021 Q4: Preparation for Mainnet launch with mass verification system - 2021 Q3: Expanded ecosystem applications and developer tools - 2021 Q1: Launched Pi Brainstorm community ideation platform - 2020 Q1: Testnet launched, allowing initial blockchain operations - 2019 Q1: Beta version launched, allowing mobile mining ## References - [Pi Network Official Blog](https://minepi.com/blog/) - [The Pi Network & Pi Token (YouTube)](https://youtu.be/wHjuX20y82c?si=VBD0PFi8H2JuFhj0) - [Pi Network Official Website](https://minepi.com)