For years now, Pi Coin has remained one of the most widely used cryptocurrency projects yet to launch. However, the Pi coin still enjoys a huge userbase, boasting over 33 million so-called pioneers who use the Pi network for mining.
Today, the lingering questions such as when the crypto will be launched and whether it is a scam still continue to linger. Late last year, there were reports that the project would be getting out of its third phase and launch by the second half of 2022. However, recent reports indicate no progress in the development of the project. There has also not been a date set for when the project will be launched.
However, people who call the project a scam have not been able to prove how the creators benefit from the project. This is because, unlike the common scam projects, Pi coin does not ask users to invest their money. The only thing they need to invest is their time and computer power in the form of their mobile phones. Although the platform has come under scrutiny for using its 33 million users’ data for marketing, nothing has so far proven the project to be a scam.
Since the project is yet to launch, we can only speculate about its future. Today, the Pi coin remains one of the largest cryptocurrencies in its userbase. Its main goal is to make cryptocurrencies decentralised again. In the past few years, the original goal of cryptocurrencies such as Bitcoin to be for every day’s person. However, today such cryptocurrencies have become speculative assets.
On the other hand, Pi coin allows users to mine using their mobile phones. This is because it uses an algorithm based on the Stellar Consensus Protocol(SCP). The technology has allowed the cryptocurrency to continue with its upward trajectory. If launched this year, I expect its userbase to continue rising. As a result, I also expect prices to start trading upwards.
This post was last modified on May 16, 2022, 15:46 BST 15:46