Pi Network Promises to Be the Biggest Disruptor in the Cryptocurrency Industry

Launched in 2018, Pi Network has become one of the most popular projects in the crypto industry as it attracted over 50 million users.

Launched in 2018, Pi Network is promising to be the biggest disruptor in the cryptocurrency industry. The crypto project has attracted over 50 million users, and it aims to be a better coin than Bitcoin.

Here’s a look at Pi Network and its goal to be the best cryptocurrency in the world.

Pi Network aims to be better than Bitcoin

Launched by two former Stanford University developers, Pi Network aims to be the best cryptocurrency in the world. It aims to achieve this goal by being a more accessible and usable coin than Bitcoin, which was launched to disrupt the financial industry.

Pi Network hopes to solve some of Bitcoin's key issues. First, anyone can mine Pi on their smartphone, unlike Bitcoin, which requires highly expensive computers that most people can't afford.

Second, the developers hope the coin will be widely used in commerce. In a recent statement, they identified over 27,000 businesses prepared to accept its coin when it eventually launches.

By achieving the commerce angle, Pi Network will be different than Bitcoin, which has become an investment asset. In this case, Bitcoin’s role as a better currency than the US dollar has largely failed.

Pi Network’s developers have succeeded in making the coin popular. It has over 50 million miners, who are known as pioneers, and over 100 million people have downloaded its browser. Its other projects like the Fireside Forum are used widely in the crypto industry.

However, the biggest challenge pioneers have faced is not being able to convert their Pi coins into fiat currencies for many years. The developers argued that the network needed to be ready for this transition. They aim to avoid the mistakes that other tap-to-earn coins, such as Hamster Kombat and Catizen, have made.

Will Pi Coin succeed?

Pi Network’s developers have announced that they will launch the Open Mainnet in the first quarter of this year. That means the network will move from the enclosed mainnet into the public mainnet, where pioneers can sell their tokens.

The mainnet launch will happen when more pioneers complete their Know Your Customer (KYC) verification and move their tokens to the mainnet. The first grace period of the KYC ended on November 31st and was then extended to December 31st.

This grace period was then extended to January 31st as many pioneers had completed their KYC migration but were yet to move their coins to the mainnet. As such, the developers noted that the extension would help at least 2 million pioneers complete their migration.

So, the question is whether Pi Network will succeed where Bitcoin failed. The biggest challenge, in my view, is where most of the Pi pioneers decide to sell their coins shortly after the airdrop as we have seen with the likes of Hamster Kombat and Catizen.

If this happens, then Pi Coin will turn into one of the many cryptocurrency projects that exist today.