PiBridge – The First Cross-chain Bridge Connecting Pi

GA, USA, September 03, 2022 (GLOBE NEWSWIRE) – Madiad LLC.

What is the Pi network?

Developed in 2018 by a team of Stanford University graduates, the Pi network was invented with the goal of making it easier for the public to access cryptocurrency. Pi crypto is introduced as easily mineable on any desktop or mobile device without the need to equip powerful computers and mass power consumption. Network participants can play a variety of roles, including running a node on their computers, referring new members, or mining Pi coins on their phones.

According to the Pi core team (PCT), during the beta phase of the project, the application works by simulating the mining process that will run correctly when the Pi goes mainnet. Users take part in block validation and receive Pi coin rewards.

The Pi network is considered to be the most accessible cryptocurrency.

The potential of the Pi network

The Pi network has reportedly gone viral globally thanks to its community of around 35 million active users in 2022 who are mining Pi via their mobile phones. The application is available on both Android and iOS and is accessible to everyone with a smartphone thanks to its easy use. So far, the network has garnered a large number of social media followers and continues to grow exponentially day by day.

For a long time, as users have not been able to move their Pi and actually use the coins, the Pi network is often seen as a scam. However, with the PCT’s recent updates on system development, the project is proving otherwise. The launch of its core network allows everyone to spend their own Pi coins, and there are rumors that several markets will soon be accepting payments in Pi.

Another aspect that cannot be ignored is the strong trust of users in the PCT. The Pi network is considered to be the largest cryptocurrency community with ongoing discussions across all social media channels and groups. Any new Pi network progress is updated regularly. All in all, the PCT’s commitment to maintaining the interests of the holders is undeniable, which further strengthens their credibility.

The unfinished of Pi

Pi’s open network was not launched. This also means that the Pi is just a closed network (closed network) and cannot communicate with other blockchains. All users can do at the present time is transfer Pi between accounts and within the chain.

Furthermore, after 3 years of launch, Pi crypto has not yet been listed on any cryptocurrency exchange. Although the Pi coin is expected to reach at least a few dozen dollars soon, users still cannot enjoy the value of the time and effort spent on mining.

Furthermore, Pi has not been able to reach other blockchains with very few platforms built on it. A hackathon was held in 2021 to allow developers to build platforms on the Pi network, and several projects have been named as winners, including mainly e-commerce platforms, games and services. The Pi blockchain still lacks a platform that actually takes advantage of the currency aspect of the Pi coin.

A new generation of Pi platforms

A team of developers in New Zealand recently introduced a brand new concept to the Pi community. This concept, however, is common in the cryptocurrency market: the Blockchain bridge. Their project called PiBridge aims to build a gateway between the Pi network and others, starting with one of the most popular: Binance Smart Chain.

PiBridge will support the Pi community to connect with other blockchains.

According to the development team, Pibridge is a reliable gateway that clears the barrier between the Pi network and other blockchains, making Pi accessible and accessible to the public, and offering a new, permissionless and transparent financial tool to Pi users. Pi Bridge allows data to flow and Pi owners to travel freely between networks. This is also a pre-open way for Pi owners to leverage the value of the asset.

The most significant benefit of the project is greater interoperability and scalability. Users benefit from blockchain bridges thanks to the ability to take advantage of multiple features of different platforms such as agriculture and staking, trading with other cryptocurrencies, lending, fundraising, e-commerce, etc., avoiding scammers and faster transactions. Some other successful examples of blockchain bridges that have brought great benefits are Celer cBridge, Cross-Chain Bridge, Umbria Narni Bridge, etc.

PiBridge is rumored to be unveiled to the public this September and garnered a lot of attention just days after the news leaked. The development team includes experts in the fields of blockchain and Fintech. However, they have not yet advertised their identities to protect personal information.

So far, PiBridge is the pioneer in expanding the value of Pi to a wider world. This appears to be the most anticipated project in the Pi community in the final months of 2022 and will be a significant project to support Pi users and address some current Pi network limitations.

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