Blockchain News

Pi Network Co-Founder: For Crypto Success, Move Away From Currency

A lot of blockchain activity revolves around crypto price speculation, but Pi Network wants to change the narrative with problem-solving utilities.

Pi Network Will Be Utility-Driven

Pi Network Co-Founder Chengdiao Fan believes that most crypto ecosystems are not sustainable in the long term because the utility of their tokens centers mostly around what their users can earn from them, rather than services that address practical problems.

In a September video, Fan said Pi follows a different development ethos:

"Pi is quite different from other projects. For the majority of projects, their goal is to get listed on exchanges. But at Pi, we believe that the key to real success in the crypto world and Web3 lies in moving away from currency speculation to the point where crypto networks provide real services that answer a user's question, 'What need do I get fulfilled from using this crypto network?'" Fan said.

The focus of Pi, a mobile blockchain mining project, is to build real-world utilities to make blockchain and Web 3 accessible using strategies to promote community growth, decentralization, and utility building.

Pi Network entered its enclosed mainnet phase in December 2021 and is expected to conclude soon. During the enclosed phase, the team has been tuning the network and test-running apps.

What is Pi Network:

Pi Network is a mobile blockchain mining project on a mission to give everyone access to the cryptocurrency revolution. The project was founded by a team from Stanford University who designed a mobile-friendly blockchain mining algorithm.

Pi Network has evolved over the years, organized hackathons, built a couple of working Pi blockchain apps, and is now in the final stages of transition to public mainnet.

Where to find Pi Network:

Website | Twitter | LinkedIn | Facebook | Instagram

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