An announcement by ALOSA π (@maxwell_alosa) regarding Pi Network has ignited significant discussion in the cryptocurrency community, revealing that the project's value system does not rely on traditional mining rewards but instead on user contributions. According to ALOSA, Pi Network generates value through measurable participation from app developers, node operators, and validators, rather than speculation, shifting the focus from a token economy to a functioning, participatory economy.
Pi Network's approach emphasizes community involvement over energy-intensive proof-of-work mining, with activities like transaction validation, app development, and node operation forming an expanding trust network. ALOSA stressed that Pi is not merely a reward mechanism but a chain of economic legitimacy. Data from a live mining session illustrated this model: a miner earned 0.0267 π per hour, based on a base rate of 0.0027 π/hour, with boosters increasing production by 663.69%, rewards boosting it 1.47 times, and the Security Circle enhancing earnings by 100% through trusted users. Additional incentives included a 463.69% Lockup Reward for long-term holders and a 0.47 Utility Usage Bonus for frequent app users, highlighting that Pi rewards active participation, not passive ownership.
Analysts note that Pi's model aligns with the ISO 20022 international standard for secure financial data transfer, and the project features a robust identity verification process covering over 240 countries and 1,000 document types, bolstering its legitimacy claims. Supporters believe that once Pi's Mainnet becomes available on public exchanges, it could integrate with mainstream financial networks. Meanwhile, developers continue to build decentralized applications (dApps) on the platform, utilizing Pi as both a currency and utility tool.
Founded in 2019 by Stanford PhDs Nicolas Kokkalis and Chengdiao Fan, Pi Network aims to create an accessible cryptocurrency mined via mobile phones. Today, it boasts over 40 million users, with more than 10 million completing KYC verification. Users mine Pi by daily app engagement and trust circle formation, with the system tracking contributions and distributing rewards in real-time, fostering a digital economy based on cooperation and transparency. If successful, this model could redefine how wealth is quantified in Web3 ecosystems.
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