

Pi Chain Mall Set to Introduce Platform Fees For Sellers and Improve Ecological Development



The protocol will introduce a poll in the coming weeks to allow users to vote on the platform's fees. The fee would be used to promote ecological growth in its ecosystem while also offering a fee-free experience for buyers.
Improving Ecological Development
Pi Chain Mall (PCM), the largest e-commerce platform providing exchange services for Pioneers on Pi Network, is set to introduce something new into its ecosystem. The top Pi Network platform is set to introduce "Platform Fees" for sellers while providing a fee-free experience for buyers and improving ecological development.
The platform announced the innovative idea on Twitter and confirmed it with BSC News on Monday, May 22. According to the PCM core team member Edwin, the innovation would ensure sellers sell their products at relatively low fees and earn $PI. Further, it would also enhance the protocol's ecological development by incentivizing top players in its ecosystem, including volunteers, moderators, and more. Edwin shed more light on the reason why the service fee was introduced.
"The service fee was introduced because Pi Network's ecological application development requires funds, and many people in our team are volunteers, who serve the Pi community without any fiat/crypto return," Edwin said.
Regular e-commerce platforms, including Amazon and eBay, charge sellers on the platform relatively high fees ranging from 8-45%. But with PCM's initiative, users could sell at cheaper rates. To make this possible, the platform will hold a poll in the coming days for Pioneers to vote for the optimal fee structure on the platform.
"When we met with the pi core team, we asked the PCT for the proportion of transaction service fees we should take. PCT hopes that we can determine the proportion through community surveys, so we will publish this vote in the coming week," Edwin confirmed the poll with BSC News. "We will use the service fee to pay volunteers (including country leaders, designers, moderators, etc.) who have been involved in Pi Chain Mall ecological development for two years. Thanks to all the team members and volunteers who support ecological development. We are proud to have them in the Pi community."
The platform fees will enhance PCM's sustainability and growth. With its introduction, the team can continue to improve its services and provide support to its community, including members involved in its ecological development. Through the poll, users can contribute to the protocol's decision, and the graphic within the tweet provides a clear overview of how e-commerce platforms charge sellers. With the graphic, users would be able to contribute reasonably to shape its future in the e-commerce industry.
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform allowing mobile users to mine Pi coins without draining the battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (Dapps) for millions of users.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News

Explore the comparative analysis between Bitcoin and Pi Network, two prominent networks shaping the future of decentralized finance. Uncover their differences in mining, scalability, market acceptance, and community dynamics.
TL;DR:
- Bitcoin and Pi Network are compared in terms of their foundational principles, mining methods, scalability, market acceptance, and community dynamics.
- Bitcoin operates as a decentralized digital currency, while Pi Network focuses on accessible mining through mobile devices.
- Bitcoin mining relies on computational power for security, while Pi Network utilizes a mobile mining approach with lower energy consumption.
- Bitcoin faces scalability challenges, while Pi Network needs to address scalability as it aims for widespread adoption. Market acceptance and value differ between the two networks.
Cryptocurrencies have opened new avenues for financial transactions, decentralized networks, and innovative technologies. Bitcoin, the first and most well-known digital asset, has paved the way for a digital revolution.
However, newer players like Pi Network are entering the market with unique propositions and aiming to challenge the status quo. This article will conduct a comparative analysis of Pi Network and the Bitcoin network to understand their similarities, differences, and potential implications for the future of Decentralized Finance (DeFi).
Foundational Principles
Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto, was designed to be a decentralized digital currency that operates on a peer-to-peer network. Its foundational principles include security, transparency, and scarcity. Bitcoin's blockchain technology enables secure transactions without intermediaries or central authorities.
Pi Network, on the other hand, was founded by a team of Stanford graduates in 2019. It creates a digital currency, $PI, that can be mined using mobile devices, making it accessible to the masses.
Mining and Network Security
Both Pi Network and Bitcoin utilize mining as a fundamental process, but they employ different approaches. Bitcoin mining involves solving complex mathematical problems through computational power to validate transactions and add new blocks to the blockchain. This process ensures network security and prevents double-spending.
In contrast, Pi Network's mobile mining aims to provide an alternative approach that allows users to mine using their smartphones. It utilizes a consensus algorithm that doesn't require massive computational power or energy consumption. However, it's important to note that Pi Network is still in the enclosed mainnet phase, and the security and decentralization of its network are not as established as Bitcoin's.
Scalability and Transaction Speed
Scalability has been a significant challenge for Bitcoin. The network can handle a limited number of transactions per second, leading to congestion during peak periods and higher transaction fees. Various solutions, such as the Lightning Network, have been proposed to address these scalability issues and enhance transaction speed.
Pi Network, a relatively new project, has not yet faced the same scalability challenges as Bitcoin. However, as Pi Network aims to achieve widespread adoption, it must address scalability concerns to support a growing number of transactions and users when the open mainnet goes live.
Market Acceptance and Value
Bitcoin has gained widespread acceptance and recognition as a digital asset and a medium of exchange. It has attracted institutional investors, retail traders, and merchants worldwide. Bitcoin's value is determined by market demand, and its price has experienced significant volatility over the years.
In comparison, Pi Network’s enclosed mainnet phase means that its native currency has not yet been listed on major exchanges. Its value and market dynamics are not freely tradable or well-established. Pi Network's success in gaining market acceptance and establishing value will depend on user adoption, utility, and listing on reputable exchanges.
Community and Ecosystem
Bitcoin has a robust and active community of developers, enthusiasts, and supporters. Its open-source nature has allowed for the development of various applications, platforms, and services built on top of the Bitcoin network. The Bitcoin community has played a vital role in its growth and adoption.
Pi Network, as a newer project, is also building its community of users and supporters. It has attracted many early adopters enthusiastic about its vision of accessible mining. The Pi Network team actively engages with the community, providing updates and addressing concerns. Building a solid and engaged community will be crucial for Pi Network's success and future development.
Conclusion
The comparative analysis between Pi Network and the Bitcoin network highlights their differences in approach, mining methods, scarcity, scalability, market acceptance, and community dynamics. Bitcoin, as the pioneer in the cryptocurrency space, has established itself as a widely recognized and accepted digital asset. Its decentralized nature, security, and growing ecosystem contribute to its value and market dominance.
Pi Network, on the other hand, is a newer project that aims to bring mining to the masses through mobile devices. It introduces a unique consensus algorithm and focuses on accessibility and user-friendliness. However, Pi Network is still in its early stages, and its network security, scalability, and market acceptance are yet to be fully established.
Both Pi Network and the Bitcoin network contribute to the continuous innovation and evolution of decentralized finance. While Bitcoin remains the leader in market acceptance, value, and ecosystem development, Pi Network's vision of accessible mining and user-friendly approach could have implications for making cryptocurrencies more inclusive and widespread.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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