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JUST IN: Pi Network and Bitcoin, the World's Promising Alternative Payment System - hokanews

 

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JUST IN: Pi Network and Bitcoin, the World's Promising Alternative Payment System - hokanews


hokanews.com - Pi Network is a digital currency project currently under development. The main goal of the Pi Network is to create a digital currency that is accessible to everyone without the need for in-depth technical knowledge or expensive hardware. This project was founded by a group of individuals who believe in the potential of blockchain technology in changing the way we transact and interact with the financial system.


One of the unique aspects of the Pi Network is its approach to mining which is different from Bitcoin and some other digital currencies. Pi Network takes a more environmentally friendly approach and allows users to earn Pi Coins simply by using a mobile application and contribute to the network through validating daily transactions. This concept is known as "Mining through Trust" (Trust Mining).


In the context of the Pi Network, "Mining through Trust" means that users will earn Pi Coins by validating transactions and actively participating in the network. This validation process involves the user opening their Pi Network app every 24 hours and clicking the "START" button to start a validation session. In a validation session, users will participate in the network by contributing security and trust.


This contribution does not involve the user using expensive computing power or hardware. Instead, the contribution focuses more on the user's active presence in the network and helps verify transactions made by other users. In this way, the Pi Network seeks to build a community that is engaged and actively participates in building and strengthening their network.


Apart from that, the Pi Network also offers a referral system that allows users to invite other people to join this project. By inviting others and forming a network, users can increase their mining speed and get more Pi Coins in return.


One of the main uniqueness of the Pi Network is its mining approach which is different from other digital currencies such as Bitcoin. Pi Network uses the concept of "Mining through Trust" which does not require the use of high computing power or special hardware. This makes it more environmentally friendly and accessible to users with ordinary mobile devices.


The Pi Network is designed to be accessible through mobile applications, both on the iOS and Android platforms. Users only need to download the application and register to start participating in the network. This approach facilitates mass participation and increases accessibility for individuals who do not have access to specialized hardware or deep technical knowledge.


Pi Network users are asked to open the app every 24 hours and start a validation session by clicking the "START" button. In this validation session, users will participate in verifying transactions made by other users. This contribution ensures network security and builds trust in the system.


The Pi Network encourages community growth and participation through a referral system. Each user has a referral code which they can share with others. When someone joins using the referral code, both the inviting user and the new user will get a reward in the form of Pi Coin. This approach expands the user's network and increases mining speed.


The Pi Network is currently still in development and not yet available on public trading exchanges. This project is in the beta testing phase, where users can try and provide feedback to help the development of the platform. This stage provides an opportunity for users to participate in the development of the project directly.


These uniqueness make Pi Network stand out among other digital currency projects. With an eco-friendly mining approach, accessibility through mobile apps, daily transaction validation, community focus, and open development stages, Pi Network strives to build an accessible, participatory, and reliable platform for users around the world.


Regarding the Pi Network and Bitcoin, the World's Promising Alternative Payment System, this was uploaded by the Twitter account @ndike_o until this article was written by the hokanews team, posts uploaded by the Twitter account @ndike_o are as follows:


Few years from now, #Pi and #BTC  will become world alternative payment system #PiNetworkLive #PiNetwork 

Like❤=$Pi

RetweetšŸ¦=BTC


Twitter image source

Bitcoin is the first digital currency that was introduced in 2009 by a person (or group of people) going by the pseudonym Satoshi Nakamoto. Bitcoin is considered a pioneer in the world of digital currency and a milestone in the development of blockchain technology.


Bitcoin uses blockchain technology as the basis for its system. Blockchain is a decentralized ledger that records all transactions that occur on the network. In this case, every Bitcoin transaction made is verified and recorded in a secure and irreversible block chain.


One of the uniqueness of Bitcoin is its decentralized nature. This means that no single entity such as a bank or government controls or regulates Bitcoin. Bitcoin transactions are carried out directly between senders and receivers without intermediaries, allowing Bitcoin owners to have complete control over their digital assets.


Bitcoin uses strong cryptography to protect transaction security. Every transaction is encrypted and verified by a peer-to-peer network of miners. This process ensures that Bitcoin transactions are legitimate and cannot be manipulated.


Bitcoins have a limited amount of supply. A maximum amount of 21 million Bitcoins will be in circulation. Given these limitations, Bitcoin is considered an asset that can be prepared for the future and can avoid inflation caused by over-printing of currency.


Bitcoin transactions can be carried out quickly and at relatively low fees compared to traditional payment methods such as international bank transfers. Bitcoin allows instant delivery of value anywhere in the world without geographic limitations.


Since its launch, Bitcoin has gained significant acceptance in various sectors. Many businesses are starting to accept Bitcoin as a form of payment, and several countries recognize and regulate the use of Bitcoin. Apart from that, Bitcoin is also used as an investment and speculation tool in financial markets.


Alternative payment systems have the potential to provide greater global accessibility for individuals who are not covered by traditional payment systems. By using digital technology and connected infrastructure, individuals around the world can easily carry out financial transactions, even without having a bank account.


Alternative payment systems can offer faster transaction speeds compared to traditional methods. Technologies such as blockchain enable the transfer of digital assets in seconds or minutes, without the need for complex processing through intermediary institutions.


In many cases, alternative payment systems can offer lower transaction fees than traditional systems. By eliminating intermediaries such as banks or other financial institutions, additional costs that are usually associated with money transfers can be reduced or even eliminated.


Several alternative payment systems are based on decentralized technologies such as blockchain, which allow transactions to be carried out directly between the sender and recipient without the need for trust in a third party. This can increase transaction security and protect users from potential fraud or manipulation.


One of the main potentials of alternative payment systems is to increase financial inclusion for individuals who have not been served by traditional systems. With easier access and lower costs, individuals who do not have access to a bank account or financial infrastructure can become part of the digital economy and benefit from a wider range of financial services.


Alternative payment systems, such as the Pi Network and Bitcoin, have the potential to change the way we transact and interact with global finance. The uniqueness of each of these systems, such as an environmentally friendly mining approach and accessibility through mobile applications (Pi Network), and decentralization and transaction speed (Bitcoin), highlight the opportunities and challenges faced in the development of alternative payment systems.


The challenges that need to be addressed include mass adoption, appropriate regulation, data security and interoperability between platforms. Mass adoption requires efforts to gain the trust and widespread acceptance of society. Clear and adequate regulations need to be developed to provide legal certainty and protection for users. Data and transaction security is the main focus in building user trust. Interoperability between platforms is important for alternative payment systems to interact with traditional financial infrastructure.


Alternative payment systems also offer significant opportunities. Financial inclusion can be increased by providing easier access and lower costs to those who have not been served by traditional systems. Cost efficiency, financial innovation and ease of use are some of the other opportunities offered by alternative payment systems. Reducing transaction costs, driving innovation in the financial industry, and providing a more flexible user experience are goals that can be achieved by adopting alternative payment systems.


In facing this challenge, collaboration between industry, regulators and other stakeholders is very important. By building awareness, strengthening security and creating an enabling environment for innovation and adoption, we can deliver successful, inclusive and innovative alternative payment systems of the future.


Don't give up, believe me the future of the pi network is very bright, success won't be built in one night, warm greetings from us, the hokanews team, to all the pioneers around the world.

What is Pi Network?

Pi Network is a new cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining device battery. The Pi blockchain secures economic transactions through a mobile meritocracy system and a complete Web3 experience where community developers can build decentralized applications (dApps) for millions of users.

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Thanks to all the pioneers, warm greetings from the hokanews team.  Information from the pi network community for all pioneers