Pi Network：它能與比特幣競爭或擊敗嗎？

Pi Network 由前史丹佛大學開發人員於 2018 年推出，迅速流行起來，吸引了超過 5,000 萬用戶

Pi Network, a mobile-first cryptocurrency project, has quickly amassed over 50 million users since its launch in 2018. The initiative aims to make cryptocurrency more accessible and practical than Bitcoin.

Pi Network 是一個以行動為優先的加密貨幣項目，自 2018 年推出以來已迅速累積了超過 5,000 萬用戶。

In contrast to Bitcoin, which necessitates specialized mining equipment and substantial energy consumption, Pi Network enables users to mine coins using their smartphones with minimal resource utilization.

與需要專門的採礦設備和大量能源消耗的比特幣相比，Pi Network 使用戶能夠使用智慧型手機以最少的資源利用率來開採硬幣。

One key advantage of Pi Network is its ease of use. Users can simply tap a button on their mobile devices once every 24 hours to mine Pi coins. This stands in stark contrast to Bitcoin mining, which requires specialized equipment and incurs hefty electricity costs.

Pi Network 的一大關鍵優勢是其易用性。用戶只需每 24 小時點擊一次行動裝置上的按鈕即可開採 Pi 幣。這與比特幣挖礦形成鮮明對比，比特幣挖礦需要專門的設備並產生高昂的電力成本。

The network has experienced exponential growth in its user base, reaching over 60 million miners (referred to as pioneers) as of late 2024. This large community is essential for establishing a robust ecosystem around the currency.

該網路的用戶群經歷了指數級增長，截至 2024 年末已覆蓋超過 6000 萬礦工（稱為先鋒）。

The developers have announced that over 27,000 businesses are ready to accept Pi coins once they become tradable. This focus on real-world use cases could set Pi apart from Bitcoin, which has largely been used as an investment asset rather than a functional currency.

開發人員宣布，一旦 Pi 幣可交易，超過 27,000 家企業已準備好接受 Pi 幣。這種對現實世界用例的關注可能會讓 Pi 與比特幣區分開來，比特幣主要被用作投資資產而不是功能貨幣。

The mining process in Pi Network employs a unique mechanism derived from the Stellar Consensus Protocol (SCP). This enables users to earn rewards for their participation while contributing to maintaining network security through a decentralized approach.

Pi Network 中的挖礦過程採用源自恆星共識協議（SCP）的獨特機制。這使得用戶能夠透過參與獲得獎勵，同時透過去中心化的方式為維護網路安全做出貢獻。

The main challenge for the project has been transitioning from its current state to a public mainnet where tokens can be traded freely. As of January 2025, the developers have extended the Know Your Customer (KYC) verification period to facilitate this transition for millions of users.

該項目的主要挑戰是從當前狀態過渡到可以自由交易代幣的公共主網。自 2025 年 1 月起，開發人員延長了「了解你的客戶」(KYC) 驗證期，以促進數百萬用戶的這項過渡。

Despite its promising features, several challenges could hinder the success of Pi Coin:

儘管 Pi 幣具有令人鼓舞的功能，但一些挑戰可能會阻礙它的成功：

For any cryptocurrency to succeed, it must gain acceptance among users and merchants alike. While there are businesses ready to accept Pi coins, actual adoption will depend on how well the coin performs post-launch and whether it can maintain value. So, market acceptance is an issue.

任何加密貨幣要成功，就必須獲得用戶和商家的認可。雖然有些企業準備接受 Pi 幣，但實際採用將取決於該幣發布後的表現以及是否能夠保值。所以，市場接受度是一個問題。

There is a risk that many pioneers may sell their coins immediately after they become tradable, similar to trends observed with other cryptocurrencies like Hamster Kombat and Catizen. If this occurs en masse, it could lead to price volatility and diminish confidence in the coin’s long-term value. So, speculation risk is another issue.

許多先驅者可能會在其代幣可交易後立即出售，這與 Hamster Kombat 和 Catizen 等其他加密貨幣觀察到的趨勢類似。如果這種情況大量發生，可能會導致價格波動並削弱人們對代幣長期價值的信心。因此，投機風險是另一個問題。

Cryptocurrencies operate in an uncertain regulatory landscape that varies significantly across countries. Any adverse regulations could impact the usability and acceptance of Pi Coin. So, regulatory environment is yet another issue.

加密貨幣在不確定的監管環境中運作，各國之間的監管環境差異很大。任何不利的法規都可能影響 Pi 幣的可用性和接受度。因此，監管環境是另一個問題。

Competing against established cryptocurrencies like Bitcoin poses another challenge for Pi Network. Bitcoin has built up significant brand recognition and trust over time; thus, convincing users to switch or adopt another coin will require substantial effort. Competition with established coins is therefore another issue.

與比特幣等成熟的加密貨幣競爭給 Pi Network 帶來了另一個挑戰。隨著時間的推移，比特幣已經建立了顯著的品牌認知和信任；因此，說服用戶轉換或採用另一種貨幣將需要付出巨大的努力。因此，與現有硬幣的競爭是另一個問題。

As of now, the value of Pi remains undetermined since it is not yet listed on any exchanges or actively traded in financial markets. Until there is clarity on its market value post-launch, potential investors may remain skeptical about its viability compared to established cryptocurrencies.

截至目前，Pi 的價值仍未確定，因為它尚未在任何交易所上市或在金融市場上活躍交易。在其發布後的市場價值明確之前，潛在投資者可能仍對其與成熟加密貨幣相比的可行性持懷疑態度。

So, while Pi Network presents an innovative approach aimed at democratizing cryptocurrency access through smartphone mining and commerce integration, its success will ultimately depend on overcoming significant challenges related to market acceptance, speculative behavior among users, regulatory hurdles, competition with established cryptocurrencies like Bitcoin, and establishing a clear value proposition once trading begins.

因此，雖然Pi Network 提出了一種創新方法，旨在透過智慧型手機挖礦和商業整合實現加密貨幣存取民主化，但其成功最終將取決於克服與市場接受度、用戶投機行為、監管障礙、與與比特幣等成熟加密貨幣的競爭相關的重大挑戰，交易開始後建立清晰的價值主張。