Pi Network is the first and only digital currency that can be mined using your smartphone or tablet. Cryptocurrency mining is an extremely energy-intensive process that necessitates a large amount of computer power to solve complex mathematical puzzles. Pi Network instead uses a complex computer program to verify transactions through a series of votes and data exchanges. The Pi Network mobile app allows users to mine the currency "without draining their phone battery." This makes the process accessible to anyone. You can also disable the application and continue to mine coins every 24 hours.
Anthropologist Chengdiao Fan, computer scientists Nicolas Kokkalis and Aurélien Schiltz, and business major Vince McPhilip founded the Pi Network.
Your job is very simple; simply download the Pi Network app and create an account, then press the Start button, and the PI mining process will begin. Check in once every 24 hours and press the lightning button to begin mining. After you've started mining, you can increase your hourly rate by inviting trusted friends and family to join the community. After 3 days of mining, you can increase your earnings by constructing your security circle, which contributes to the network's overall security.
To get access and start the mining process you need to enter an invitation code becace PI NETWORK is by invitation only.
Security circles are groups of 3–5 trusted people formed by each member of Pi. Security circles protect the currency by constructing a global trust graph, which prevents bad actors from carrying out fraudulent transactions.
While cryptocurrencies such as Bitcoin safeguard their ledgers by forcing miners to consume energy (proof of work), Pi secures its ledger by its members vouching for each other as trustworthy. Contributors on Pi vouch for one another by forming security circles of 3–5 members they consider trustworthy. Security circles should be made up of persons you trust not to carry out fraudulent transactions. The network's security rings build a global trust graph that defines who may be trusted to complete transactions on Pi's ledger.