Latest news with #NicolasKokkalis
Geek Vibes Nation
09-07-2025
- Business
- Geek Vibes Nation
How Pi Network Is Changing The Crypto Game
Source: In the ever-evolving world of cryptocurrency, we've seen heavy hitters like Bitcoin and Ethereum lead the charg However, a new player has entered the arena that is turning heads—Pi Network. Designed to make cryptocurrency mining accessible for everyone, even those without high-powered computers, Pi Network is disrupting the crypto landscape with its mobile-first approach. As the Pi Network price chart continues to develop, many are curious about the potential impact of Pi Network on the broader cryptocurrency market. But what does Pi Network mean for the future of cryptocurrency and how could it influence the tech and gaming worlds? Let's dive in. What is Pi Network? Pi Network hit the scene in 2019, created by a group of Stanford Ph.D. grads who wanted to demystify crypto. The app gives users a chance to mine a decentralized coin without the costly hardware and energy bills that scare many newcomers. Instead of solving power-hungry puzzles, people simply tap a button on their phone each day and earn tokens, making the whole process far less intimidating. The Pi Network team includes Dr. Nicolas Kokkalis, Dr. Chengdiao Fan and Vincent McPhillip, who each handle different parts of the project. Dr. Kokkalis, a computer scientist, acts as the main tech engineer; Dr. Fan, an anthropologist, looks at how people use the app; and Mr. McPhillip keeps an eye on business deals and big-picture plans. Pi Network Price Chart: A Growing Community Because Pi Network is still building its software, the price chart people watch shows early numbers only. Right now, tokens cannot be bought on big exchanges because the currency lives on the 'Testnet,' a testing ground where new features are tested. Even so, the Pi app has drawn more than 35 million users around the world and the community keeps growing. During these first months, the price of Pi coins has jumped up and down, which is normal for fresh cryptocurrencies. Many thinkers in the space say that once the project switches to the mainnet and listings appear, new supply and real demand will set the value, for better or worse. If enough people use the platform and partners come on board, the coins could be worth far more than they are today. Pi Network's Unique Mining Approach One of the coolest things about Pi Network is the way it lets people mine coins. With big-name coins like Bitcoin, mining eats up tons of power and needs pricey hardware and that worries many folks because of its carbon footprint. Pi flips the script by letting people mine straight from their phones, using almost no energy and the tiny load it does create barely bumps the battery or slows down apps. The tech behind this is a twist on the Stellar Consensus Protocol called Proof of Agreement, or PoA. PoA is meant to grow with the network, spread power around and use almost no extra juice, so it feels at home on a smartphone. The Social Network Aspect of Pi Network Pi Network is more than a simple crypto wallet; it has a social layer baked in. Inside the app, users can set up their own 'nodes,' invite friends and watch the circle grow. As the community expands and users help keep things secure, everyone picks up small rewards for their time and effort. The friendly, social feel built into Pi Network gives everyone a place to belong. Because users can invite friends, spread the word and build groups, the community side keeps growing. Many believe that as this community expands, demand for Pi tokens will rise, pushing up their value in the long run. Pi Network's Roadmap and Future Prospects Right now Pi Network sits in the 'Testnet' stage, yet its goals are anything but small. Developers intend to move to 'Mainnet' soon and when that day arrives, Pi tokens will trade freely on big crypto exchanges. Hitting Mainnet could turn Pi into a household name in digital money, especially if the user count keeps climbing and the wider market takes notice. The roadmap also boasts building a dApp marketplace, hooking into decentralized finance (DeFi) projects and rolling out secure wallets. Pulling off these steps could boost Pi's value, widen adoption and carve out a firm spot for the coin in the crowded blockchain arena. Potential Risks and Challenges Pi Network has stirred up a lot of buzz, but every new project comes with its share of headaches. Right now, Pi coins are more of a bet than an actual currency because the network is still in beta. That means no one really knows if the token will hold real value and the team has yet to show that it can grow and handle millions of users like Bitcoin or Ethereum do. Regulators around the world are also keeping a close eye on apps that promise easy profits and Pi's mobile mining and social-coin idea could end up on that radar, too. How the team responds to audits, privacy rules, or even local laws will play a major role in whether Pi gets to stay in the game or not. Looking Ahead: Pi Network's Potential On the brighter side, Pi Network lowers the entry bar to crypto mining; anyone with a smartphone can participate, no fancy rig or huge power bill needed. Its light-touch, phone-only process is also kinder to the environment than old-school tokens that burn megawatts. Still, the project must shift to Mainnet, win users' trust with useful apps and wallets and dodge or shape new regulations if it really wants to evolve from a hopeful experiment to an everyday currency. With the Pi Network price chart moving up and down, both investors and curious fans are trying to figure out if Pi Network can really deliver on its promises and become a big name in crypto. The project's fresh approach, along with millions of active users, hints that Pi Network might shape the future of digital money in a meaningful way.
Yahoo
01-06-2025
- Business
- Yahoo
Pi Network wants to make crypto as simple as cash and 60 million people are already in
Pi Network wants to make crypto as simple as cash and 60 million people are already in originally appeared on TheStreet. Imagine a currency that works like cash but is digital, fast, and something your friends are already using. That's the pitch behind Pi Network, a crypto platform with over 60 million users that's trying to solve the biggest issue in crypto: usability. Nicolas Kokkalis, the project's founder and Head of Technology, says it all started with frustration. 'We started Pi six or seven years ago with a strong belief that cryptocurrencies are the next step in currencies,' Nicolas said. But in 2018, using crypto felt like solving a puzzle. Wallets were hard to set up, user interfaces were clunky, and for most people, it wasn't worth the effort. 'We embarked to fix this,' Nicolas explained. 'We realized user interface wasn't enough—we had to build our own cryptocurrency from scratch and let people mine it from the start.' That effort became Pi Network, a mobile-first crypto platform where users mine coins by checking into an app daily—no expensive rigs or technical knowledge required. 'It's a social network with a cryptocurrency at its core,' he said. Unlike many blockchain projects that focus on speculation or trading, Pi's focus is on making crypto useful in everyday life. Think paying for coffee, sending money to friends, or interacting with NFT and DeFi apps—all within a simple interface. 'Because of the large number of users, it makes sense to create apps that everyday people can understand,' Nicolas noted. Instead of chasing the latest token fad, Pi aims to feel more like a mobile banking app—with crypto under the hood. Pi's real hook might be how familiar it feels. Millions of users already own Pi, and the network grows mostly through word-of-mouth—not hype or massive ad spend. 'It's simple because there's a large number of people who already own and mine Pi,' Nicolas said. 'If your friend says, 'I'm using this app, here's an invite, I'll help you set it up,' that reduces the barrier to entry,' he added. For traditional investors wary of crypto's anonymity and lack of compliance, Pi offers a rare differentiator: 'Every address, every wallet, is identity-verified,' Nicolas emphasized. That level of KYC (Know Your Customer) across the board is practically unheard of in crypto—and it may be why institutional investors are finally taking a second look. 'The user profile is very diverse,' Nicolas said. From crypto veterans to newcomers who've never used a wallet, Pi's community is varied—and massive. Developers are also starting to build apps on Pi to reach that audience. 'It includes the average individual who's heard of crypto but never knew how to set it up.' This diversity and accessibility give Pi the kind of scale most crypto projects only dream of—especially as other blockchains struggle with user growth. Pi Network isn't just building a platform—it's also investing in its ecosystem. Through Pi Network Ventures, the team is backing startups building on the Pi blockchain, with a $100 million fund. 'We identify and invest in high-potential startups,' Nicolas said. 'They get capital, but also potential access to millions of users.' For founders, the appeal is clear: launch your product into an existing, engaged audience. And for Pi, it means strengthening the network with more real-world use cases. 'Because they're not only getting funding, they get access to a market of millions,' Nicolas added. Pi isn't trying to be the next flashy DeFi token or meme coin. It's trying to be usable, stable, and familiar—especially for people outside the typical crypto circles. With 60 million users and a growing developer ecosystem, Pi is clearly hitting a nerve. Whether or not it becomes the go-to digital money remains to be seen—but its focus on accessibility, identity, and real-world usage makes it one of the more grounded projects in crypto right now. As Nicolas put it: 'They're never going to go back to credit cards or old cash.' Pi Network wants to make crypto as simple as cash and 60 million people are already in first appeared on TheStreet on May 31, 2025 This story was originally reported by TheStreet on May 31, 2025, where it first appeared. Sign in to access your portfolio
Business Mayor
15-05-2025
- Business
- Business Mayor
Pi Network goes open-source next week, but there's still one catch
Pi Network shuts down its central node and preps open-source code, citing decentralization goals. Big announcements teased could redefine Pi's future — or deepen the decentralization debate. Just as the crypto crowd descends on Toronto for Consensus 2025, Pi Network [PI] has decided to steal a bit of the spotlight, shutting down its central node and open-sourcing its code in one bold move. Add to this an announcement wrapped in mystery, and we've got all the ingredients for a stunner. But is this a real step toward decentralization, or just a well-timed flex? Either way, the Pi community has reason to stay tuned – because the next chapter might just be the most telling yet. A central node no more Pi Network's core team has officially shut down its central node. The announcement was paired with a network diagram that visually confirmed the node's removal. Source: X The shift is in line with Pi's mission to evolve into a decentralized blockchain, secured by its proprietary improved proof of stake (IPoS) mechanism. With the source code soon to be released, the Pi community awaits developments that bring in a new era of transparency. But while enthusiasts celebrate, critics remain unconvinced. The network's referral-based mining model and notably opaque governance still raise eyebrows. Notably, the core team's continued control over supernode selection — and its reported hold on 82.8 billion PI — have fueled ongoing concerns about the project's decentralization claims. All eyes on Consensus The timing couldn't be better. Just as the crypto world swarms to Consensus 2025, Pi Network is hyping the community up with a series of not-so-subtle teasers. First up: a major announcement slated for the 14th of May. Source: X Then? Promises of something 'GREAT/GOOD' on the 15th, capped off by a speech from Pi co-founder Dr. Nicolas Kokkalis on the 16th. Source: X This is a three-day show that has the world talking — and the stakes have never been higher. Read More XRP: Bulls and bears locked in struggle – What of prices? The decentralization debate Even with the central node gone and open-source code on the horizon, Pi Network hasn't fully shaken off the criticism. Its mainnet remains closed, coin transfers are still off-limits, and basic access features like 'lightning' often require VPNs in some regions. For a project that champions decentralization, these roadblocks feel at odds with the message. The upcoming announcements may bring about a change, but until the network becomes truly open and borderless, nothing's for certain.
Express Tribune
24-02-2025
- Business
- Express Tribune
Pi Coin rebounds 80% after 60% drop amid global adoption surge
Listen to article Pi Coin, the cryptocurrency launched by Pi Network, has surged 80% to $1.29 following a dramatic 60% drop after its mainnet launch. The token, which saw a peak of $1.97 on its first trading day, plunged to a low of $0.737 before rebounding in recent sessions. The sharp fluctuation in Pi Coin's price has raised concerns among investors about its long-term stability. However, data from CoinMarketCap shows strong buying interest, with Pi Coin recently hitting a high of $1.52 and support levels around $1.10. Experts suggest that if the token maintains its position above the $1.10 mark, it could see further gains, while a drop below this level may result in a retest of the $0.94–$1.00 range. Photo: Pi Network (Pi Coin) price chart/TradingView Growing User Base and Global Expansion Despite the volatility, Pi Network continues to expand its user base. The platform, launched in 2019 by Stanford Nicolas Kokkalis and Chengdiao Fan, has over 60 million members. Pi Network's mobile-first mining mechanism allows users to earn Pi Coins by simply tapping a button on their mobile devices every 24 hours. The network has gained significant momentum, especially in India, where it has surpassed 100 million downloads on the Google Play Store. Pi Coin has been listed on several major exchanges, including OKX, Bitget, Bitrue, HTX, and BitMart, further increasing its accessibility to international markets. To further boost adoption, Bitget has launched a $60,000 Pi Coin airdrop, running until March 3, while BitMart is offering a $3,000 USDT reward for 300 lucky users. Challenges and criticism Pi Coin's launch was met with skepticism from some quarters. Bybit CEO Ben Zhou referred to Pi Network as a scam, citing concerns that the project targeted elderly investors. Pi Network has vehemently denied these allegations, emphasizing its six-year development process. Another factor contributing to the token's initial decline was a wave of sell-offs from early adopters, a trend common in new cryptocurrency launches. The broader downturn in the crypto market, with Bitcoin and major altcoins in a decline, also contributed to Pi Coin's early struggles. Outlook for Pi Coin While Pi Coin has made a significant recovery, its future remains uncertain. Technical analysts believe that if the token can stay above the $1.10 support level, it may see further upside. However, ongoing skepticism and the volatility of the crypto market could lead to more fluctuations in its price. As Pi Network continues to develop its ecosystem, the coming weeks will be critical in determining whether this recovery is the beginning of a long-term uptrend or simply a short-term bounce.
