Why is the project of Stanford University becoming more and more in China?

The content of this article does not constitute investment advice. BlockBeats reminds everyone to pay attention to risks and operate with caution.

"If people can make money every day, then no one will go to work." This is the evaluation of a pyramid scheme by Yu Jianing, the president of the University of Fire Capital, on the November 18th "Focus Interview" program. Now, there is a link that doesn't need to go. It only needs a blockchain project that moves every day and starts to invade communities.

Open the app at least once a day, click on a specific location, you can chat in the built-in chat area of ​​the app. The number of rewards depends on the number of new people and the number of daily activities. Currently, you can't withdraw cash until the official announcement, and finally complete the KYC-certified users. Can withdraw cash.

This is not an Internet product. This is a blockchain project called "Pi Network."

Pi has been around for a few months and is still absorbing the world's users. This is only 8 months of mining projects. Currently, it has more than 1 million registered users. It has a geographical spread all over the world. A mining boom on Pi has swept the world. "Thousands of miners are like millions of ants. The same." Fans claim to be so.

Beginning in the United States, it broke out in China, and then opposed to foreign communities. Pi's development is completely different from other projects. The block rhythm BlockBeats also found that Pi still has a lot of ambiguity. The code is not open source, the main network is not online, we can not even determine whether Pi is a blockchain project.

What is Pi Network?


This year's White Valentine's Day, the project called Pi Network (hereinafter referred to as Pi) officially launched, the three founders Nicolas Kokkalis, Chengdiao Fan, and Vincent McPhillip have the background of the famous university Stanford University. This project, which aims to achieve a low-entry, low-cost cryptocurrency network that everyone can participate in, has a very low threshold. As long as you have a mobile phone, you can open the mine by downloading the APP. All the π coins are manually excavated by the user.

As a global project, Pi mining is not restricted by the region. The entire mining process does not consume electricity or even need to be turned on. Just click the “Lightning Mark” on the right side of the screen every 24 hours to start your mining. journey of.

The consensus protocol based on the stellar consensus protocol (block block of BeatBeats Note: Stellar's consensus agreement, also used by mobile phone mining, Spacemesh) and the Federal Byzantine Agreement (FBA) (NEO and Ripple's consensus mechanism), features It is more lightweight and has no resource consumption. At present, the mining of Pi does not cause any damage to the mobile phone, and users can participate with confidence.

In order to attract users, Pi is mainly engaged in multiple mining, and the daily mining speed consists of three parts. The first part, called Pioneer, is the base speed, the same for everyone, and the current value is 0.2π/h. The second part is called Contributor. The user needs to unlock after three days of mining. The formula for calculating the speed bonus is: the number of secure connections x the base speed x 20%, and the maximum number of secure connections is 5. The third part, called Ambassador, represents the invitation to reward and is the most important variable in determining the amount of mining. Simply put, the more people you invite, the more active users in the team, the higher the speed you get per day, the more Pi coins you dig.

Final speed = base speed + (secure connection number * base speed * 20%) + [invitation active number * 25% * (base speed + number of secure connections * base speed * 20%)]

Note: The number of secure connections (up to 5), the number of active invitations is an infinite variable

However, the current π tokens obtained from mining are not yet tradeable. Only when the main online line completes the KYC certification can the coins be raised.

The grand view of Pi


On November 15th, Pi's official released a global fan congratulation video on social media, celebrating the number of registered users of Pi over one million.

What is the concept of 1 million users? Financing for one year, global financing of 4.2 billion US dollars, known as blockchain 3.0 EOS, after 10 months of the main online line, that is, April 25, 2019, the account volume reached 1 million , which is the market value of Zeng The top three top projects, from launch to millions of users, took nearly two years.

Pi has just been launched for a few months, and the main network does not.

The data of 1 million users is true, we can't confirm it, but in various communities, Pi does have a wide range of believers. The heads of various community marketing projects such as VDS and VAS have already moved to Pi's battlefield and began to lead their teams to mine. What is most amazing is that people who promote Pi are everywhere. We will find a Pi promoter in almost every community to promote this project that has nothing to do with the community theme. The earliest block rhythm, BlockBeats, introduces the Pi Network article, which is still read by thousands of people every day.

With an inappropriate metaphor, Pi is now a lot of money in the currency circle.

"I dug for six months. At the beginning, there were less than 10 people in the team. I couldn't push them and became a liar." Like other projects, Pi mining is also an early entry, and an early involvement in Pi digging. Mine user Luo Sheng (pseudonym) told the block to block BlockBeats, and now his team has more than 100 people. "Playing and playing and discovering it has become a trend."

According to the official data of Pi, this project did set off a mining whirlwind. The data shows that the Pi project has just started for two months, the number of APP registered users has exceeded 10,000, and it has been downloaded in more than 120 countries; on July 5, the number of registered users of Pi exceeded 100,000. The community is growing faster and faster. On August 2, the number of registered users exceeded 200,000; after two months, the number of users exceeded 500,000; on November 15, the number of users exceeded 1 million, from the United Kingdom, Vietnam, South Korea, the United States, Australia, The "miners" of China, Pakistan and other countries have shown a video of congratulations on social platforms.

Luo Sheng's 100-person team is nothing at all. Someone has sunk his team score on Twitter: more than 1,240 members have already dug more than 200,000 Pi coins. Pi coins are gradually recognized. In order to dig more Pi coins, some people will not hesitate to remind their teammates to open the app every day.

"Recruit mobile phone part-time, work mobile phone mining, click once every 24 hours, wages 200 yuan / month, after the platform identity certification, the currency can be transferred every month." In the Pi WeChat exchange group, someone made such an advertisement.

The diehards began to look for the ground scene for Pi: ​​developing the surrounding (hat, T-shirt, sweater), Pi coin payment, "Pi to do social networking on the mobile payment system, to do on the blockchain Amazon's shopping platform + facebook social platform on the blockchain." A fan introduced the block to BlockBeats, "Pi is an eco-project."

– "There are indications that the probability of Pi failure is almost zero."
– "What are the signs?"

– "As for the signs, I can't finish it for a while. I need to read the information myself and I don't understand."

Projects with such a large amount of traffic will naturally not be let go by the exchanges. Individual small exchanges continue to use routines, and they are the first to launch PI futures, and the price has reached nearly 1 yuan.

It is worth noting that all users must perform KYC certification before the Pi main online line and token exchange, and the π of any account that is not certified will be destroyed, and the fissile income of the inviting account of the destroyed account. It will also be destroyed. Currently in the app, users cannot transfer money or withdraw coins.

Why is it only Pi fire?


Visible to the naked eye, the Pi project has several distinct features:

First of all, Pi's mining threshold is extremely low and has no cost. It only requires a smart phone, no need to install complicated programs or plug-ins, purchase expensive ASIC mining machines, and no need to touch the cryptocurrency knowledge of the key class. Can participate.

Second, in the promotion, the Stanford University development team has been the focus of the Pi community fans. It’s not a grassroots entrepreneur, but a blockchain project made by the high-profile Stanford University’s high-profile students. The sub-words of Pi Powder’s propaganda give more sense of practicality – we are not making money. We really want to change the world and reshape the financial system. We are here to realize the ideal of decentralized cryptocurrency.

What is invisible to the naked eye is the attraction of Pi to people like blind boxes.

The simple way to make money is not that no one has ever played. Looking back at the Internet battlefield at the beginning of the year, three new social platforms warfare WeChat, Luo Yonghao even moved out of the concept of a similar blockchain, launched a chat chat "chasing mine", with little effect, so that Lao Luo had to explore new field.

Luo Yonghao’s own community attributes are beyond doubt. Whether it is the "Royal Powder" attracted by Lao Luo's quotation or the "hammer powder" called by the hammer mobile phone, he will never lack fans. A bird's nest mobile phone conference will sell tickets for 5 million is the best proof. But the chat treasure actually did not even ask the wool party.

Because everyone knows that they can make money from using chat, there are only a handful of things, and the cost is enormous.

In contrast to Pi, uncertainty is the biggest pain point for investors. It is like a hidden treasure in a treasure chest and a blind box in a mobile game. Pi carries the illusion of people, the fantasy of a rich night, the fantasy of the next bitcoin. .

The most attractive things that make speculators crazy are often things that cannot be accurately valued. All economic models are so clear that they are unreasonable. The model is valuable and the imagination is priceless. Pi is precisely a project with a team-to-coin distribution plan, technical code, and ecological development path.

Is Pi a blockchain project?


However, such a hot project has many doubts.

As early as the beginning of 2019, BlockBeats author 0x22 discovered the Pi Network in the 4chan forum. At that time, Pi also borrowed the nameless. Foreign netizens even called it "Ponzi Scheme" or "Pyramid Scheme" (Penzi scheme or pyramid scheme). ).

This kind of argument is not unfounded. After all, before the code open source main online line, Pi is not even a blockchain project. The so-called mining mode is no different from the "sign-in collar". It is not even as good as "ant forest stealing energy". There is a texture.

"There is a bunch of numbers at the moment." Users are well aware.

However, after June-July this year, the plot seems to have reversed. The Pi Network has flowed into the Chinese community and has been “phased” by some cryptocurrency community leaders and even fund leaders. These people played a huge role in the follow-up promotion of Pi. They began to spread Pi's ideas and mining methods to investors in the community. Pi began to spread like a virus in the currency circle.

Miraculously, after the explosion of Pi in China, Pi began to counter the foreign community. The block rhythm BlockBeats reported on the Pi Network in the form of a project introduction in early August, when the public opinion of its foreign official account was almost zero. Now, Pi Network has more than 3,000 fans to pay attention to. The INS account has 24,000 followers. You can find the keyword Pi Network on YouTube and you will find weekly fans from all over the world. this project.

Anyway, we still have to be clear that before Pi Network's code open source and main online line, Pi is even a small game, it does not differ from the small program in your WeChat.

In addition, there are a lot of wool parties now entering the Pi Network. Objectively speaking, these wool parties have promoted the promotion of the project, but after the PI currency future online exchange, these people will definitely be the first time. Disk. The professional wool party never believes in the story, only believes in real money, and whether the Pi can withstand the first wave of "digging and selling" after going online is doubtful.

Pi coins do not follow the multi-layered rebates of traditional MLM projects. On the contrary, Pi's new incentive (the dynamic income in MLM) has a cap of 5 people. When the cap is reached, Laxin only enjoys the user's active reward. (Ambassador). In theory, the wooler can use the mobile phone to register multiple trumpet, give up the right to issue coins after KYC, and only act as ammunition for the large active reward. Pi officials said that this situation will be curbed by the technical means of destroying rewards, but block block rhythm BlockBeats still doubts this.

In the longer term, it is assumed that the Pi Network is officially launched and open sourced. Because of its simplicity, convenience, and decentralization, it is growing and its competitors are Bitcoin. Obviously, the encryption world only needs a hard currency, and now the Pi community fans will only be wishful thinking about Pi.

"Pi is a pyramid scam, which is bigger by motivating people to develop the line." Zou Lan (pseudonym), a currency investor, told the block to block BlockBeats. Obviously he is not optimistic about Pi Network. "A point without open source. Words, who believes that Stanford, after getting into the line, began to make money."

Even so, in addition to the shortcomings of pulling people, not open source, and unclear currency, BlockBeats still interviewed some Pi community supporters and onlookers who are ready to enter the Pi community. We want to know more people. Thoughts.

" Pi is at least stronger than Dfinity. " An investor who did not want to be named, but has a high level of cognition in the industry, told the block to block BlockBeats. This made us very surprised. I know Dfinity is being Known as the number one killer of Ethereum, "Pi still has a community-based concept, and does not play the concept of fancy, as long as it can be delivered on time, there is hope."

However, the Pi community is more irrational. Some people regard Pi as BTC from the bottom of their hearts, while others just use this as a cover to attract more people.

"Think, after going online next year, you can use Pi to go to the supermarket to buy milk." A big Pi coin said in the interview that he is confident in the future of Pi Network. "You reporters will understand the materials after reading them. Pi It is definitely an epoch-making invention of cryptocurrency."

(The block rhythm BlockBeats reminds the public to rationally treat the block according to the document issued by the Banking Regulatory Commission and other five departments in August 2018 on the prevention of illegal fund raising in the name of “virtual currency” and “blockchain”. Chain, don't blindly believe in the promise of smallpox, establish a correct monetary concept and investment philosophy, and effectively raise the awareness of risk; and actively report the illegal criminal clues found to the relevant departments.)