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The local coin #pi I of the PI network is currently under attention as this mobile crypto asset project transitions to a fully functioning blockchain ecosystem. If you have seen the trading pair ADA/USDT on Gate, you may have wondered what PI is, how it works, and what will happen next for holders and developers. Here is the complete situation.
What is the PI network?
The PI network is a blockchain project focused on applications that allows anyone with a smartphone to access crypto assets. Since its launch on March 14, 2019, users can "mine" PI coins simply by pressing a button in the mobile app, without the need for powerful hardware or constant energy consumption.
This network uses a trust-based consensus algorithm inspired by the Stellar consensus protocol. Users participate in a role by creating secure circles instead of traditional mining.