How far has bitcoin come in a decade and how Pi Network looks in comparison?

The project’s mission is bold — to build the world’s most inclusive peer-to-peer marketplace, fueled by Pi, the world’s most widely used cryptocurrency. And create a smart contract protocol that is secured and operated by everyday people, not a concentration of whale miners like Bitcoin.
Pi Network is built upon the shortcomings of Bitcoin:
- Technical knowledge requirements
- Hardware requirements
- Initial capital investment required to mine Bitcoin
Though Bitcoin is a revolutionary invention, it failed to reach the masses on planet Earth, even after 10 years, with the status of its creator, Satoshi Nakamoto’s presence unknown. The entire cryptocurrency spare consists of 40–45 million users in total, however, out of the mentioned number, Bitcoin users are estimated at 5.8 million, PayPal boasts 235 million active users, Mastercard has 35.7 million American users and another 604 million active international users, and Visa accounts for a whopping 336 million American users and another 736 million users globally.
Research produced by University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using Bitcoin.
Bitcoin, in essence, is to be re-imagined, re-branded and its properties need to be changed as there was 10 years for Bitcoin to reach much more users than the numbers in its current state.

This is what Pi Network has done.
Pi Network solves the above mentioned 3 key challenges categorized as accessibility.
- Smartphone application — 17 mb — simplified down for the everyday end-user
- Serves as a wallet, which allows sending/receiving Pi Coins
- Tech allows you to mine on your phone without draining your battery
- Fair distribution allows every user to earn Pi Coins every day, based on the level of their contributions
- Eco-friendly and doesn’t use proof-of-work algorithm, instead created its own consensus algorithm that would also be extremely user-friendly and ideally enable mining on mobiles, firstly, with nodes,secondary.
- Clever reward system, giving a 25% increase of base earning rate to both inviter and invitee, whenever mining simultaneously.
- Fair earning opportunity relying on social contacts instead of multilevel or pyramid
- 1 person : 1 account : 1 device with anti-bot measures and verification
- The chat allows users to stay engaged more and network with its community
Pi Network governance:
Until the network hits a critical mass of five million members, Pi will operate under a provisional governance model. This model will most closely resemble “off-chain” governance models currently employed by protocols like Bitcoin and Ethereum, with Pi’s Core Team playing an important role in guiding the development of the protocol.
Upon hitting five million members, a provisional committee will be formed based on previous contributions to the Pi Network. This committee will be responsible for soliciting and proposing suggestions from and to the wider community. It will also organize a series of on- and offline conversations where Pi’s members will be able to weigh on Pi’s long-term constitution.
Where is Pi Network today and how to get involved?
Pi Network has reached a whopping 1 million users and there is no sign of slowing down. The sheer audience is much greater than Bitcoins due to the reward scheme implemented and the minimal technical knowledge required to start earning Pi. The coin has had its 3rd halving, meaning the first million people had a couple of months of head start to collect the coins, however, the next 99 million users will be able to earn Pi Coins based on their contributions to the network.
The best thing about Pi that the more you put in, the more you get out of it when it get’s listed on exchanges. How much, solely depends on every user and each gets the same bonus.
The project is invite-only, feel free to use Kozii in order to join the project and download the mobile app. Or click here.
There is a private discord group for my team, which is posted in my earning team chat, in the app.
Kozii
Originally published at https://www.publish0x.com.
