Mar 14, 2025
Pi Cryptocurrency White Paper
The white paper discusses Pi, a new digital currency aiming to be accessible to everyday people. It addresses the limitations of traditional financial systems, such as unfair value capture by intermediaries, high fees, censorship, and lack of privacy. Bitcoin emerged as a solution by enabling peer-to-peer transactions without intermediaries, but its mining process has become centralized, requiring significant computing power and energy.
Pi aims to overcome these limitations by enabling mining on mobile phones through a user-friendly consensus algorithm called Stellar Consensus Protocol (SCP). SCP relies on a network of trusted nodes to validate transactions, ensuring security without excessive energy consumption. Pi introduces roles for users, such as Pioneers, Contributors, Ambassadors, and Nodes, all of which are rewarded with Pi for their contributions.
The whitepaper also outlines Pi's economic model, which includes rewards for mining, referrals, and developers. It emphasizes the importance of early members and their contributions, with rewards decreasing as the network grows. Pi aims to empower individuals to capture the value they create online, challenging the dominance of large corporations.
Feb 26, 2025
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