{"id":33732,"date":"2026-10-15T12:25:46","date_gmt":"2026-10-15T12:25:46","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=33732"},"modified":"2026-10-15T12:27:04","modified_gmt":"2026-10-15T12:27:04","slug":"pi-network-what-it-is-how-it-works-and-what-is-behind-it","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it","title":{"rendered":"Pi Network: what it is, how it works and what is behind it"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#what_pi_network_is\" >What Pi Network is<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#origin_and_founding_team\" >Origin and founding team<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#how_pis_mobile_%c2%abmining%c2%bb_model_works\" >How Pi&#8217;s mobile \u00abmining\u00bb model works<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#why_it_is_not_mining_like_bitcoin\" >Why it is not mining like Bitcoin<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#consensus_mechanism_and_security_circles\" >Consensus Mechanism and Security Circles<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#the_referral_system_and_the_mining_rate\" >The referral system and the mining rate<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#kyc_and_mainnet_real_state_of_the_network\" >KYC and Mainnet: real state of the network<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#the_kyc_process_in_pi\" >The KYC process in Pi<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#current_state_of_the_mainnet\" >Current state of the Mainnet<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#the_main_doubts_and_risks_around_pi_network\" >The main doubts and risks around Pi Network<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#tokenomics_and_distribution_concentration_of_supply\" >Tokenomics and distribution: concentration of supply<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#security_and_third-party_scams_the_danger_of_an_informal_market\" >Security and third-party scams: the danger of an informal market<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#keys_to_evaluate_a_crypto_project_before_participating\" >Keys to evaluate a crypto project before participating<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/pi-network-what-it-is-how-it-works-and-what-is-behind-it\/#frequently_asked_questions_about_pi_network\" >Frequently asked questions about Pi Network<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 8<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Mining cryptocurrencies is usually associated with noisy servers, high energy consumption and unreachable hardware. Faced with this reality, <a href=\"https:\/\/minepi.com\/\">Pi Network<\/a> was born with a different proposal: <strong>accumulating cryptocurrencies from the mobile phone without draining the battery nor requiring technical knowledge<\/strong>.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-33733 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/1-1.jpg\" alt=\"\" width=\"612\" height=\"344\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/1-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/1-1-300x169.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<p>In this way, by simply downloading an app and pressing a button a day, millions of users have accessed the crypto world under a <strong>mobile-first and accessible<\/strong> approach.<\/p>\n<p>However, its rapid growth brought with it strong debates. Indeed, aspects such as the use of a referral system, delays in the open network, data collection (<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-kyc-in-cryptocurrencies-and-how-it-works\">KYC<\/a>) and limitations for trading the token generate doubts about its <strong>long-term viability<\/strong>.<\/p>\n<ul>\n<li>Launch year 2019<\/li>\n<li>Founders Dr. Nicolas Kokkalis and Dr. Chengdiao Fan<\/li>\n<li>Token symbol PI<\/li>\n<li>Architecture Blockchain Layer 1<\/li>\n<li>Community +50 million registered users (\u00abPioneers\u00bb)<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"what_pi_network_is\"><\/span><strong>What Pi Network is<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In concrete terms, Pi Network is a <strong>layer 1 (Layer 1) blockchain platform<\/strong> designed to facilitate the mass adoption of digital assets. Unlike traditional cryptocurrencies based on Proof-of-Work (<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-proof-of-work-the-bitcoin-consensus-protocol\">Proof-of-Work or PoW<\/a>), such as Bitcoin or Litecoin, Pi replaces the consumption of computing power with a <strong>model of social and participatory validation<\/strong>.<\/p>\n<p>For its part, the core of its ecosystem is the Pi coin (PI), the native token created to function as a <strong>medium of exchange in a peer-to-peer network (<a href=\"https:\/\/en.wikipedia.org\/wiki\/Peer-to-peer\">peer-to-peer<\/a>)<\/strong>. The long-term goal of the project is for PI to serve as a usable currency in a decentralized market of goods and services within its own application, instead of being a mere speculative asset.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"origin_and_founding_team\"><\/span><strong>Origin and founding team<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>As for its origins, the project was officially launched on <strong>March 14, 2019 (coinciding with Pi Day)<\/strong> by a team linked to Stanford University. Its fundamental purpose was to <strong>eliminate the technical and economic barriers of traditional mining<\/strong> through the work of its leaders:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-33734 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/2-1.jpg\" alt=\"\" width=\"612\" height=\"459\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/2-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/2-1-300x225.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<ul>\n<li><strong>Dr. Nicolas Kokkalis (Technology Leader)<\/strong>: Doctor in Computer Engineering from Stanford and specialist in distributed systems and human-computer interaction (HCI). He was a pioneer in teaching blockchain application development at said university.<\/li>\n<li><strong>Dr. Chengdiao Fan (Product Leader)<\/strong>: Doctor in Computational Anthropology from Stanford, focused on the study of human behavior, social computing and how to use technology to mobilize communities on a global scale.<\/li>\n<li><strong>Vincent McPhillip (Cofounder and former director)<\/strong>: He had a key role in the initial stage of the project and in community leadership. His later departure from the team generated various speculations in the sector, although the details of his departure have not been officially addressed in depth.<\/li>\n<\/ul>\n<p>Together, the active founders conceived <a href=\"https:\/\/www.youtube.com\/watch?v=MsOaC61cR3U&amp;t=1s\">Pi Network<\/a> as a <strong>direct response to the centralization of the crypto sector<\/strong>, where traditional mining has remained reserved for large computing farms, thus distancing the average user from participation in distributed networks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"how_pis_mobile_%c2%abmining%c2%bb_model_works\"><\/span><strong>How Pi&#8217;s mobile \u00abmining\u00bb model works<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"why_it_is_not_mining_like_bitcoin\"><\/span><strong>Why it is not mining like Bitcoin<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>To understand this concept, it is necessary to remember that when we think of traditional <a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-cryptocurrency-mining-complete-guide\">crypto mining<\/a>, the mind evokes networks based on <strong>Proof-of-Work (Proof-of-Work or PoW)<\/strong>, such as Bitcoin. In this type of network, thousands of computers compete solving complex mathematical puzzles, which requires <strong>specialized high-cost hardware and massive electricity consumption<\/strong>.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-33735 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/3-1.jpg\" alt=\"\" width=\"612\" height=\"408\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/3-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/3-1-300x200.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<p>In contrast, in Pi Network the term \u00abmining\u00bb is used <strong>figuratively and intuitively for the user<\/strong>. This is because the mobile application <strong>does not put your phone&#8217;s processor (CPU or GPU) to work nor does it solve heavy cryptographic calculations<\/strong>; therefore, it does not consume battery or slow down the device. Therefore, instead of providing raw computing power, the user \u00abmines\u00bb by <strong>demonstrating their active presence and boosting the network of human trust<\/strong> through the application.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"consensus_mechanism_and_security_circles\"><\/span><strong>Consensus Mechanism and Security Circles<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In order to validate transactions without resorting to the energy consumption of PoW, Pi Network uses an adaptation of the <strong>Stellar Consensus Protocol (SCP)<\/strong>, an algorithm belonging to the family of the <strong>Federated Byzantine Agreements (Federated Byzantine Agreement or FBA)<\/strong>.<\/p>\n<p>In this sense, the secret of this system lies in <strong>replacing computational effort with interconnected trust relationships<\/strong>:<\/p>\n<ol>\n<li>Confianza local: Each participant creates a <strong>Security Circle<\/strong>, selecting between 3 and 5 people of their complete trust within the application.<\/li>\n<li>Superposici\u00f3n de c\u00edrculos: Imagine a school project where students divide into small work groups. If the members of each team trust each other and several groups share members in common, the entire class can reach an agreement without the need for a central supervisor.<\/li>\n<li>Consenso global: By overlapping thousands of Security Circles throughout the world, the network builds a <strong>global trust graph<\/strong>. This map allows the nodes of the blockchain to verify who is a legitimate user and which transactions are valid without consuming electricity.<\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"the_referral_system_and_the_mining_rate\"><\/span><strong>The referral system and the mining rate<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is worth noting that the speed at which a user accumulates PI tokens is not fixed, it depends directly on their <strong>level of participation and their contribution to the network<\/strong>. To coordinate this effort, Pi Network classifies its participants into <strong>four complementary roles<\/strong> (which the same user can exercise simultaneously):<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-33736 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/4-1.jpg\" alt=\"\" width=\"612\" height=\"344\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/4-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/4-1-300x169.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<ul>\n<li><strong>Pioneer<\/strong>: It is the basic role. The user confirms their activity daily by pressing a button in the app, demonstrating that they are a real person and not a bot.<\/li>\n<li><strong>Contributor<\/strong>: Increases their mining rate by building their Security Circle with trusted contacts, reinforcing the security of the network.<\/li>\n<li><strong>Ambassador<\/strong>: Exponentially increases their speed of obtaining tokens by inviting new users through their referral code. Each active member who joins through their link adds a bonus to their hourly mining rate.<\/li>\n<li><strong>Node<\/strong>: For users with technical knowledge who run Pi software on a desktop computer. These nodes use the trust graph generated by phones to validate blocks of transactions on the blockchain.<\/li>\n<\/ul>\n<p>Consequently, by integrating the contact network directly into the token reward, Pi combined <strong>organic growth through referrals with the very security architecture of its protocol<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"kyc_and_mainnet_real_state_of_the_network\"><\/span><strong>KYC and Mainnet: real state of the network<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"the_kyc_process_in_pi\"><\/span><strong>The KYC process in Pi<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Within this framework, the <strong>Know Your Customer (KYC) or identity verification<\/strong> is a <strong>mandatory and unavoidable step<\/strong> in Pi Network. To move the tokens mined in the app to the blockchain, users must provide official documents (ID, passport or license) and a photographic proof (liveness test).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-33737 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/5-1.jpg\" alt=\"\" width=\"612\" height=\"386\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/5-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/5-1-300x189.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<p>On the one hand, the official objective is to <strong>guarantee the \u00abone user, one account\u00bb rule and avoid the use of bots<\/strong>. However, on the other hand, the process raises concerns about privacy due to factors such as:<\/p>\n<ul>\n<li><strong>Community validation<\/strong>: Parts of the process depend on other users who act as validators, which generates doubts about the management of sensitive information.<\/li>\n<li><strong>Strict deadlines<\/strong>: If verification and migration are not completed within the dates set by the project, the user runs the risk of losing the accumulated tokens.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"current_state_of_the_mainnet\"><\/span><strong>Current state of the Mainnet<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>For its part, after years in beta phases and in a closed network (Enclosed Mainnet), the project advanced toward its <strong>Open Mainnet (Open Mainnet)<\/strong>, eliminating the internal firewall to allow connectivity with external exchanges and free transaction of the token.<\/p>\n<ul>\n<li><strong>Total supply<\/strong>: Limited to 100 billion PI coins (80% destined for community rewards and ecosystem liquidity, 20% reserved for the founding team).<\/li>\n<li><strong>Quotation and ecosystem<\/strong>: The opening of the network allowed the arrival of PI to exchanges and the development of real utilities through the Pi Browser (dApps, games and peer-to-peer payments).<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"the_main_doubts_and_risks_around_pi_network\"><\/span><strong>The main doubts and risks around Pi Network<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"tokenomics_and_distribution_concentration_of_supply\"><\/span><strong>Tokenomics and distribution: concentration of supply<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite promoting itself as a democratic project, Pi Network&#8217;s economic model generates <strong>structural doubts about the control of its supply<\/strong> due to several factors:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-33738 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/6-1.jpg\" alt=\"\" width=\"612\" height=\"344\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/6-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/6-1-300x169.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<ul>\n<li><strong>20% reserved for the team<\/strong>: Of the maximum limit of 100 billion PI tokens, 20 billion belong directly to the developer team. This reserve gives the founding team a <strong>disproportionate weight in governance and a determining power over the market if they decide liquidity<\/strong>.<\/li>\n<li><strong>Selling pressure from unlocks<\/strong>: As millions of users complete the KYC process and migrate their tokens to the Mainnet, a massive flow of supply accumulated over years is released, which generates <strong>high volatility and risk of accelerated depreciation in the quotation<\/strong>.<\/li>\n<li><strong>Control of initial liquidity<\/strong>: During the previous phase and the transition, the scarcity of real liquidity in regulated markets strongly conditions the value of the token against speculative demand.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"security_and_third-party_scams_the_danger_of_an_informal_market\"><\/span><strong>Security and third-party scams: the danger of an informal market<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Additionally, the enormous user base and the long period of commercial restriction fostered a <strong>fertile environment for fraud and external cybercrime<\/strong>:<\/p>\n<ul>\n<li><strong>Black market and fake buyers<\/strong>: Informal platforms and groups emerged that promise to \u00abbuy\u00bb or \u00abexchange\u00bb PI tokens for fiat money or stablecoins before official trading. These operations without guarantees usually end in the <strong>total loss of the transferred coins<\/strong>.<\/li>\n<li><strong>Fake applications and websites (Phishing)<\/strong>: Hackers and malicious actors cloned the official site and created pirate apps to <strong>steal the private keys of the wallets or capture users&#8217; personal data<\/strong>.<\/li>\n<li><strong>Identity impersonation on networks<\/strong>: Unofficial profiles on social networks promise to \u00abspeed up KYC\u00bb or carry out exclusive airdrops in exchange for prior payments or installation of malicious software.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-33739 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/7-1.jpg\" alt=\"\" width=\"612\" height=\"387\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/7-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/7-1-300x190.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"keys_to_evaluate_a_crypto_project_before_participating\"><\/span><strong>Keys to evaluate a crypto project before participating<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For all of the above, to determine the <strong>viability and transparency of any initiative in the crypto ecosystem<\/strong>, use this quick evaluation checklist:<\/p>\n<table style=\"height: 153px;\" width=\"1140\">\n<thead>\n<tr>\n<td>\n<p style=\"text-align: center;\"><strong>Key question<\/strong><\/p>\n<\/td>\n<td style=\"text-align: center;\"><strong>What you should verify<\/strong><\/td>\n<td>\n<p style=\"text-align: center;\"><strong>Alert indicator (Risk)<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1. Who controls the team and the code?<\/td>\n<td>Identity of the founders and whether the source code is public and audited.<\/td>\n<td>Anonymous team, without external audits or with a closed code repository.<\/td>\n<\/tr>\n<tr>\n<td>2. Is there a clear and technical whitepaper?<\/td>\n<td>Document that details the technical architecture, the roadmap and the solution proposed by the project.<\/td>\n<td>Vague proposal, focused on marketing or with promises of profitability without technical support.<\/td>\n<\/tr>\n<tr>\n<td>3. How is the distribution and liquidity?<\/td>\n<td>Percentage reserved for the team, unlock calendar and presence on exchanges with real volume.<\/td>\n<td>Excessive concentration of tokens in few wallets or impossibility of trading freely.<\/td>\n<\/tr>\n<tr>\n<td>4. What value or utility does the token provide?<\/td>\n<td>Real use cases within the ecosystem beyond speculation.<\/td>\n<td>The token only serves to attract new users without a clear economic utility.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"frequently_asked_questions_about_pi_network\"><\/span><strong>Frequently asked questions about Pi Network<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Is Pi Network a scam?<\/strong> No. It is a free and legitimate project, although it generates doubts due to its slow development and referral system.<\/li>\n<li><strong>Does mining Pi use battery or data?<\/strong> No. It does not consume processor or data, it only requires pressing a button a day in the app.<\/li>\n<li><strong>When does Pi come to market?<\/strong> It is already listed. Its Open Mainnet launched on February 20, 2025 on several exchanges.<\/li>\n<li><strong>What happens if I don&#8217;t do KYC?<\/strong> You lose your tokens. Verification is mandatory to transfer your coins to the main network.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-33740 size-full\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/8-1.jpg\" alt=\"\" width=\"612\" height=\"459\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/8-1.jpg 612w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/10\/8-1-300x225.jpg 300w\" sizes=\"(max-width: 612px) 100vw, 612px\" \/><\/p>\n<p>Pi Network stands out for its <strong>mobile, ecological and accessible mining<\/strong>, but it faces challenges in <strong>privacy (KYC), token distribution and real utility in its Open Mainnet<\/strong>.<\/p>\n<p>Therefore, beyond enthusiasm or skepticism, the key is to <strong>investigate objectively<\/strong>: analyze the <strong>transparency, the tokenomics and the real value<\/strong> of any crypto project before sharing data or dedicating resources.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 8<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Mining cryptocurrencies is usually associated with noisy servers, high energy consumption and unreachable hardware. Faced with this reality, Pi Network was born with a different proposal: accumulating cryptocurrencies from the mobile phone without draining the battery nor requiring technical knowledge. In this way, by simply downloading an app and pressing a button a day, millions [&hellip;]<\/p>\n","protected":false},"author":43,"featured_media":33721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[185],"tags":[],"class_list":["post-33732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-en"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/33732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=33732"}],"version-history":[{"count":3,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/33732\/revisions"}],"predecessor-version":[{"id":34066,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/33732\/revisions\/34066"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/33721"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=33732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=33732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=33732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}