The Pi Network is positioned as a Layer 1 public chain native token for "massive users × real payments and application ecology."

Therefore, the white paper has mentioned that it does not aim to speculate on coins, as it does not want Pi coins to be controlled by capitalists and whales, leading to price manipulation like most mainstream cryptocurrencies today: Bitcoin and Ethereum. This statement has been taken out of context and exaggerated by some novices, resulting in the fallacy of surpassing Bitcoin.

Also, although the foundation of the Pi blockchain is POS, it is not traditional POS. It is an improved version of the consensus model rewritten for large-scale real human networks after absorbing the idea of POS: "Stellar Consensus Protocol (SCP)." Therefore, in Pi Node, you will not see the term "stake," because if it were a pure POS mechanism, it would require staking like Ethereum currently does to have a voice and control over the network, which would lead to concentration of power in "capital" and control by capitalists (therefore, Pi only has a lock-up mechanism and no staking).

The core of Pi's SCP is not the amount of stake, but rather the model of changing "money" to "people," which led to the introduction of the "security circle" mechanism, real-name verification KYC, and the trust graph among nodes, linking the credibility between people (account & account) into a close relationship to jointly maintain the security and integrity of the Pi blockchain.

Because of this, Pi is difficult to be accepted by capitalists, operators, and traders, which is why the current price is weak.

This is a "global social experiment" launched by Stanford University.

By, Pi Chinese Community

Tan General tan729

#PiNetwork #PiCoreTeam