What is Pi? Understanding the Revolutionary Cryptocurrency and Network

Pi Network has emerged as one of the most talked-about projects in the crypto community due to its unique approach to mobile mining. In this guide, we will explain Pi Network's concept, its launch timeline, and many other aspects that are important to know about Pi coin. We will also discuss Pi coin launch details as well as the prospects of the Pi cryptocurrency. We will cover the latest Pi coin news, compare Pi to established cryptocurrencies, and discuss whether Pi could be the next big thing or just a fleeting trend. Moreover, we will answer the frequently asked questions in the vein of 'what is the Pi coin value?' and  'when will Pi coin launch for public trading?'

Disclaimer: SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

Key Takeaways

• Pi Network allows users to mine its native Pi crypto coin on smartphones without heavy computing power, making crypto accessible to almost anyone.

• The project has amassed a huge community (tens of millions of users) since launching in 2019, but the Pi crypto remained untradeable for years, leading to questions like 'when is Pi coin launching on exchanges'.

• Pi’s mainnet launched in two phases – an enclosed network in December 2021 and an open network in early 2025 – finally enabling transfers and external trading of Pi tokens.

• Now that Pi’s open network is live, its future depends on real-world adoption and whether the Pi token can attain lasting value and use cases in the broader crypto ecosystem.

What is Pi (PI)?

What is Pi crypto and how is it a user-friendly currency meant for everyday people? Let's talk about that.

Pi Network (PI) is a decentralized cryptocurrency project that enables users to mine its cryptocurrency called the Pi coin on their mobile phones. Pi aims to make crypto accessible to everyday people by allowing anyone with a smartphone to participate in securing the network and earning rewards. In simple terms, Pi is a digital currency that you can earn by tapping a button in an app, without the need for expensive hardware or electricity-intensive mining.

The Pi Core Team has often explained what is Pi used for – to enable everyday people to use cryptocurrency in daily life via a peer-to-peer economy.

This essentially answers the question 'what is Pi coin', in simple terms.

Pi (PI) Price, Supply and Market Cap

The Pi coin was not publicly tradable until the open mainnet. Price and market cap became estimable only after some exchanges began listing Pi in early 2025. The circulating supply refers to Pi coins migrated to the mainnet and accessible to users; a significant portion of Pi may remain locked or yet to be claimed as more users pass KYC verification. The Pi coin launch date for open network connectivity was in early 2025, which finally allowed Pi’s market value to emerge.

*PI price and supply data as of March 27, 2025 via CoinMarketCap

How Does Pi Work?

Pi Network’s operation is based on a novel trust-based consensus mechanism and community participation. So, how does Pi work?

Pi Network’s operation is based on a novel trust-based consensus mechanism and community participation. Users mine Pi daily by tapping a button in the mobile app, a low-energy process that serves as proof of active participation rather than computational mining. Users can increase earnings through inviting new members as Ambassadors or by forming Security Circles – small groups of trusted users—which enhance trust and mining rates. 

Pi's blockchain employs a consensus model adapted from Stellar (SCP), validating transactions through overlapping networks of user trust, eliminating the need for power-intensive mining. To ensure authenticity, Pi requires users to verify their identities via a Know Your Customer (KYC) process, enforcing a strict one-person-one-account rule before allowing transfers to the mainnet. 

Pi's Blockchain Technology

The Pi Network blockchain securely maintains transactions and balances using a proprietary system inspired by Stellar’s federated consensus, where nodes validate transactions through trusted relationships rather than traditional mining, ensuring quick and low-cost payments ideal for everyday use. 

Security is reinforced by a social trust graph and strict identity verification (KYC), significantly reducing fraud and fake-account risks. After an initial enclosed mainnet phase (2022–2024) dedicated to internal optimization, Pi's blockchain has opened publicly, enabling external interactions and visibility through block explorers. 

What is the Concept of Mobile Mining?

Mobile mining is the process of earning cryptocurrency via a smartphone rather than specialized mining hardware. 

Pi Network implements this by having users confirm daily participation with a simple tap in an app, consuming minimal resources and no significant battery or data usage. 

Unlike traditional mining, Pi emphasizes user engagement over computational work, relying on community trust and daily interactions rather than powerful devices. Some compare Pi's method to a long-term airdrop or loyalty program, rewarding consistent participation without monetary investment. 

What Makes Pi Unique?

Pi Network stands out from other cryptocurrency projects due to its focus on accessibility and community. Key unique features of Pi include the following. 

Limited Supply

Pi Network’s maximum supply is capped at 100 billion coins, with mining rewards decreasing exponentially over time, ensuring long-term scarcity. The Core Team and early contributors will receive 20% of the total Pi coin mainnet supply, and the remaining 80% is for the community. 

Transparency

Pi’s founders are publicly known, regularly engaging with users and clearly outlining project milestones and coin distribution in their whitepaper. Although Pi emphasizes openness about its goals, critics seek greater transparency regarding code and internal operations.

Lower Transaction Fees and Faster Payments

Pi’s consensus method enables near-instant transactions with minimal fees, ideal for daily use and micropayments. Unlike traditional cryptos, Pi avoids resource-intensive mining, ensuring higher transaction throughput and lower operational costs.

Security and Privacy

Pi relies on community-driven security through identity verification (KYC) and trust circles, preventing fraud and malicious activity. Transactions are cryptographically secured and pseudonymous, safeguarding user privacy while maintaining a transparent ledger, with minimal personal data required beyond basic identity verification.

The History of Pi

Pi Network was officially launched on Pi Day, March 14, 2019, by Stanford graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, introducing a mobile app for easy cryptocurrency mining. Initially focused on rapid user growth, Pi quickly attracted hundreds of thousands of users, halving its mining rewards upon reaching milestones of 100,000 and 1 million users. 

By early 2020, the Testnet launched to experiment with blockchain operations, and later that year, Pi expanded its node program to involve community-run software for validating transactions. 

In December 2021, Pi transitioned into an "Enclosed Mainnet" phase, enabling internal Pi transactions and comprehensive identity verification (KYC), though remaining disconnected externally. 

By Pi Day 2022, the community had surpassed 30 million users, prompting further mining rate reductions and launching developer hackathons to encourage ecosystem growth. 

Between 2022 and 2023, Pi focused heavily on user verification and expanding app utilities, preparing the network for broader adoption. 

Finally, on February 19, 2025, Pi achieved its major milestone—launching the Open Mainnet and opening Pi coin trading to external markets, marking its transition from an experimental project to a publicly tradable cryptocurrency.

The open launch meant that finally the question 'where is Pi coin listed?' could be answered: Pi started appearing on cryptocurrency exchanges. 

The Major Stakeholders of Pi

When discussing who owns Pi, it’s important to distinguish between the inventors (creators) and the stakeholders who hold or control significant amounts of Pi. Pi Network is not owned by any single entity; it’s a decentralized cryptocurrency at heart. 

Here are the major stakeholders:

• Pi Core Team

The founding team led by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, responsible for Pi’s development and strategic direction. They hold 20% of Pi’s total supply, aligning their incentives with network success.

• Pi Community (Pioneers)

Millions of global users mining Pi via smartphones, collectively owning 80% of the coin supply. Their active participation and trust underpin the network’s value and security.

• Node Operators

Technical community members who run Pi nodes, validating transactions and enhancing network stability. They contribute significantly to future decentralization and governance.

• Businesses & Ecosystem Partners

Companies and developers integrating Pi into services and applications. By accepting Pi for products or creating apps within the Pi Browser, they strengthen Pi’s real-world utility.

How is Pi (PI) Different to Other Cryptocurrencies?

Below we compare Pi to some of these prominent cryptos:

Pi vs Bitcoin

Bitcoin (BTC) is the original cryptocurrency, often called digital gold. Pi, on the other hand, is a newcomer focused on accessibility.

• Bitcoin uses energy-intensive Proof of Work mining, while Pi relies on a trust-based, eco-friendly consensus model involving social connections and simple mobile participation.

• Bitcoin’s supply is scarce, limited to 21 million coins, whereas Pi has a significantly larger, fixed supply (100 billion), intentionally allowing widespread distribution but reducing individual scarcity.

• Bitcoin enjoys broad adoption as payment, robust global infrastructure, and serves as a trusted store of value; Pi is just starting to build adoption and real-world utility.

• Philosophically, Bitcoin emphasizes decentralization, trustlessness, and organic growth, whereas Pi seeks rapid community-building and inclusivity, initially requiring centralized oversight and user identity verification.

Pi vs Ethereum

Ethereum (ETH) is the largest programmable blockchain, known for its smart contracts and decentralized applications. Pi Network is not directly comparable yet, as it currently doesn’t have smart contracts, but we can highlight contrasts:

• Ethereum functions as a decentralized computing platform powering complex applications, while Pi primarily aims to be an easily obtainable, user-friendly cryptocurrency for everyday exchanges.

• Ethereum uses Proof of Stake, requiring validators to stake ETH, whereas Pi relies on social trust and identity verification (KYC), without staking or high resource usage.

• Ethereum faces high transaction fees and congestion due to heavy usage and complex computations, while Pi aims for consistently low fees and fast transactions suited for routine payments.

• Ethereum boasts a large, active developer community building diverse applications; Pi’s community has mainly focused on social participation and mining, with developer engagement still emerging.

Pi vs Dogecoin

Dogecoin (DOGE) started as a meme cryptocurrency but grew to have a large community and real market value. Comparing Pi to Dogecoin:

• Dogecoin began as a playful, meme-inspired Bitcoin fork gaining fame through internet culture, whereas Pi launched with a serious goal of financial inclusion and community-building via mobile apps.

• Dogecoin has an uncapped, steadily inflating supply, while Pi’s supply is large but fixed at 100 billion, gradually becoming scarcer as issuance slows.

• Dogecoin uses older, basic Proof-of-Work technology with minimal recent updates, while Pi introduces innovative mobile mining and SCP-based consensus designed for scalability and accessibility.

• Dogecoin is an established cryptocurrency with market presence driven mostly by speculation and community hype; Pi, newly tradable as of early 2025, aims to achieve widespread real-world utility beyond speculative value.

Advantages of Pi

Pi Network offers several potential advantages that distinguish it from other crypto projects:

• Easy Accessibility

Pi can be mined quickly by anyone with a smartphone, requiring no upfront investment or technical skills.

• No Financial Risk to Start

Mining Pi involves no monetary cost, only a minimal daily time investment and sharing basic identity data for KYC.

• Large Engaged Community

Pi rapidly built an active global community of over 30 million users, creating a powerful foundation for potential widespread adoption.

• Low Environmental Impact

Pi’s mining is eco-friendly, requiring negligible energy compared to traditional Proof-of-Work cryptocurrencies.

• Gradual Decentralization Plan

Initially guided by a central team for effective growth and stability, Pi aims to gradually shift governance to the broader community.

• Built-in Use Cases (in development)

Pi has begun integrating real-world utility through apps and marketplaces, laying foundations for future everyday transactions.

Understand the Risks of Pi

Like any cryptocurrency, Pi comes with its share of risks and challenges. Here are some of the notable risks associated with Pi:

• Uncertain Value and Launch Risks

Pi’s open-market value is uncertain due to its large free distribution and high initial supply, potentially disappointing early users and exposing it to market volatility.

• Centralization and Trust Concerns

Pi remains largely under core team control, raising concerns about transparency, decentralization, and whether user balances and promises will be fully honored.

• Data and Privacy Risks

Mandatory identity verification (KYC) and phone-based registration pose privacy and data security risks, as the personal data of millions could become vulnerable to misuse or breaches.

• Regulatory Uncertainty

Pi’s unconventional distribution method could trigger scrutiny from regulators worldwide, risking legal issues if considered non-compliant or classified unfavorably.

• Overhyped Expectations

High user expectations may lead to disappointment if Pi’s value remains low or its adoption slows, potentially causing negative community sentiment and attrition.

• Technical and Security Challenges

Pi’s blockchain must reliably handle high transaction volumes; any significant technical failure or weaknesses in its trust-based consensus model could undermine network stability and user confidence.

How Is the Pi Coin Secured?

Pi Network secures its blockchain through a unique combination of technology and social trust mechanisms. Transactions are validated using a Stellar-inspired consensus algorithm that relies on overlapping circles of trusted users, making manipulation extremely difficult. 

Each user is limited to a single account enforced by mandatory identity verification (KYC), significantly reducing risks like fake account (Sybil) attacks. Transactions are protected through standard cryptographic methods, ensuring only wallet owners with the correct passphrase can authorize actions. 

The decentralized network of community-run nodes further enhances security and transparency, and while the Pi app manages authentication, user funds remain securely held on the blockchain. Pi’s transactions maintain user privacy through pseudonymity, with personal identities separated from on-chain records and managed privately within the KYC system.

Buying Pi (PI)

Here’s what to know about how to buy Pi:

• Exchange Listings

Since Pi’s 2025 mainnet launch, some exchanges began officially listing Pi; always confirm authenticity to avoid placeholder tokens.

• SimpleSwap Platform

Instant services like SimpleSwap now support Pi cryptocurrency, allowing easy crypto exchanges without complex processes.

• Peer-to-Peer (P2P)

Pi can also be traded directly between users for goods, services, or cash, preferably using trusted escrow or Pi’s own marketplaces.

• Availability and Listing Status

As of early 2025, Pi isn’t on all major exchanges yet, but growing community support may expand listings; verify via official channels.

• No ICO or Presale

Pi had no ICO or presale, meaning all authentic Pi initially came only through mining; beware of unofficial early-sale claims.

• Compliance and Restrictions

Only KYC-verified users can sell Pi, influencing early market liquidity; buyers should confirm local crypto regulations and availability.

How to Mine Pi (PI)

Mining Pi is unlike mining traditional cryptocurrencies. It’s designed to be simple and accessible to everyone. If you’re interested in joining the network and earning Pi coins yourself, here’s how it works.:

To start mining Pi, download the official Pi Network app (by SocialChain) on your smartphone and create an account using your phone number or Facebook. 

Enter a referral code to activate your account, complete your profile accurately, and verify your identity later through KYC. Tap the mining button once every 24 hours to continue earning Pi; the process runs passively without draining resources.

Optionally, increase your mining rate by building a trusted security circle or inviting friends. 

Finally, create a secure Pi Wallet through the Pi Browser to hold and eventually transfer your Pi coins to the blockchain.

Future of Pi

As Pi Network transitions to its open mainnet, its future hinges on market acceptance, real-world utility, and community engagement. Pi's success will initially depend on exchange listings, price stability, and broader market adoption.

Building a robust ecosystem of practical apps—including marketplaces, games, social platforms, and integration with other blockchains—will be essential for long-term value. 

Gradual decentralization through community governance mechanisms, like DAOs and expanded node operations, will further strengthen trust and reduce central control. Retaining and expanding user engagement through incentives, education, and active use cases will determine Pi’s sustained relevance. 

However, challenges like regulatory uncertainty, increasing competition, inflation concerns from its large coin supply, and the need for scalable technology remain significant hurdles potentially impacting Pi future. 

In an optimal scenario, by around 2027, Pi could become a widely adopted digital currency used globally for everyday transactions, serving as a gateway to broader cryptocurrency adoption.

As adoption grows, how to use Pi methods could expand from small community transactions to mainstream commerce.

The Bottom Line

Pi Network is an innovative cryptocurrency experiment aiming to build a decentralized digital currency by first attracting a massive user base via mobile phones. 

Tens of millions have already joined, drawn by the ability to mine Pi without financial risk, but its future depends on translating this community into real-world adoption and value. 

Pi seeks to become an accessible currency for everyday peer-to-peer transactions, potentially democratizing crypto use among those who wouldn't otherwise participate. 

Yet its success hinges on achieving genuine decentralization, practical use cases, and overcoming trust-related uncertainties. For participants and observers alike, Pi offers a unique blend of social networking, finance, and technology, evolving from an ambitious idea into a functioning network. 

Although, whether Pi ultimately fulfills its promises or fades as hype remains an open question.

FAQ

Is Pi Cryptocurrency Legitimate or a Scam?

Pi Network is a legitimate cryptocurrency project with millions of users, requiring no financial investment—only user time—but faces skepticism due to its prolonged development without immediate utility. While not an outright scam, its long-term success remains uncertain, making it a high-risk, experimental venture.

How to Cash Out Pi Coin?

To cash out Pi, you can transfer it to exchanges that support Pi trading and sell it for fiat or other cryptocurrencies, or use instant exchange services like SimpleSwap for indirect conversions. Alternatively, Pi can be sold peer-to-peer directly to buyers, but always use trusted platforms or escrow to ensure safety.

Is Pi on its Own Network?

Yes, Pi operates on its own independent blockchain network, distinct from Ethereum or other chains, with its unique consensus model. Officially live since December 2021, the Pi blockchain now fully processes and records Pi transactions on its own infrastructure, separate from unofficial tokens on other blockchains.

What Can Pi Coins be Used For in the Future?

Pi aims to become a widely-used cryptocurrency for everyday payments, such as buying goods, making micropayments, or sending international transfers efficiently. It also plans to fuel a growing ecosystem of decentralized apps—including games, social media tipping, marketplaces, and possibly DeFi services—making Pi a versatile token for various real-world uses.